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INVESTMENTS IN ASSOCIATES AND JOINT VENTURES (Tables) | 12 Months Ended
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Dec. 31, 2024
Investments In Associates And Joint Ventures |
Schedule of breakdown of investments in associates and joint ventures |
Schedule of breakdown of investments in associates and joint ventures |  |  |  |  |  |  |  |  |  |
Companies | R$ thousands
On December 31, 2024 | Year ended on December 31, 2024
Equity interest | Shareholding interest with voting rights | Investment carrying amount | Associates and joint ventures current assets | Associates and joint ventures non - current assets | Associates and joint ventures current liabilities | Associates and joint ventures non - current liabilities | Share of profit (loss) of associates and jointly controlled entities (1) | Revenue (2) | Associates and joint ventures net income (loss) for the year
Haitong Banco de Investimento do Brasil S.A. | 20.00% | 20.00% | 98,243 | 5,099,950 | 1,945,607 | 4,559,541 | 1,994,799 | (4,715) | 668,016 | (23,575)
Tecnologia Bancária S.A. (3) | 24.55% | 24.32% | 241,277 | 854,080 | 2,354,233 | 774,316 | 1,471,727 | 3,710 | 2,783,255 | 15,255
Swiss Re Corporate Solutions Brasil (3) | 40.00% | 40.00% | 552,687 | 2,667,390 | 2,356,236 | 3,026,387 | 854,949 | 37,633 | 2,252,238 | 94,083
Gestora de Inteligência de Crédito S.A. (3) | 16.82% | 16.00% | 56,297 | 191,422 | 1,052,123 | 282,554 | 627,924 | (4,776) | 325,181 | (29,850)
Others (4) (5) |  |  | 7,817,497 |  |  |  |  | 715,342 |  |
Total investments in associates |  |  | 8,766,001 |  |  |  |  | 747,194 |  |
Elo Participações Ltda. (6) | 50.01% | 50.01% | 2,263,011 | 963,331 | 4,746,612 | 965,266 | 91,253 | 784,391 | 1,813,170 | 1,566,669
Total investments in joint ventures |  |  | 2,263,011 |  |  |  |  | 784,391 |  |
Total on December 31, 2024 |  |  | 11,029,012 |  |  |  |  | 1,531,585 |  |
(1) |  | The adjustments resulting from the evaluation consider the results determined, periodically, by the companies and include equity variations of the investees not resulting from results, as well as adjustments due to the equalization of accounting practices, when applicable;
(2) |  | Revenue from financial intermediation or revenue from the provision of services;
(3) |  | Companies with equity accounting using statement of financial position with a reporting date delay of up to 60 days. In the year ended December 31, 2024, the Group received dividends of R$2,204 thousand from Empresa Tecnologia Bancária S.A.;
(4) |  | In August 2024, the auction of the unified tender offering for the acquisition of common shares issued by Cielo S.A. was held to convert its registration as a publicly-held company from category “A” to “B” with the Brazilian securities and Exchange Comission (CVM) and exit from the New segment Market of B3 S.A., with this, the Group's total equity interest in Cielo S.A. increased to 50.72%, with 30.61% direct participation and 20.11% indirect participation, through the companies of the Elopar Group (as of December 31, 2023, total equity interest was 31.41%, with direct participation being 30.06%). The Group received from Cielo S.A, interest on equity of R$151,453 thousand, in the year ended December 31, 2024. More information in Note 42;
(5) |  | Primarily includes investment in publicly held companies and Cielo S.A.; and
(6) |  | Brazilian company, provider of services related to credit and debit cards and other means of payment. The Group received dividends of R$64,922 thousand in the year ended December 31, 2024 from Empresa Elo Participações Ltda.
Companies | R$ thousands
On December 31, 2023 | Year ended on December 31, 2023
Equity interest | Shareholding interest with voting rights | Investment book value | Associates and joint ventures current assets | Associates and joint ventures non - current assets | Associates and joint ventures current liabilities | Associates and joint ventures non - current liabilities | Share of profit (loss) of associates and jointly controlled entities (1) | Revenue (2) | Associates and joint ventures net income /(loss) for the year
Haitong Banco de Investimento do Brasil S.A. | 20.00% | 20.00% | 105,766 | 4,294,581 | 2,198,375 | 4,276,354 | 1,689,663 | (5,296) | 331,786 | (27,237)
Tecnologia Bancária S.A. (3) | 24.55% | 24.32% | 237,568 | 964,701 | 2,300,906 | 1,182,701 | 1,106,646 | 3,149 | 2,875,219 | 12,828
Swiss Re Corporate Solutions Brasil (3) | 40.00% | 40.00% | 549,669 | 3,156,150 | 1,721,943 | 3,387,628 | 361,839 | 62,163 | 1,843,974 | 155,409
Gestora de Inteligência de Crédito S.A. (3) (4) | 16.82% | 16.00% | 61,073 | 153,360 | 1,092,648 | 269,606 | 613,865 | (7,066) | 284,062 | (38,572)
Other (5) |  |  | 7,234,917 |  |  |  |  | 1,160,949 |  |
Total investments in associates |  |  | 8,188,993 |  |  |  |  | 1,213,899 |  |
Elo Participações Ltda. (6) | 50.01% | 50.01% | 1,427,847 | 1,023,779 | 2,627,543 | 563,008 | 103,084 | 887,782 | (77,119) | 1,757,753
Total investments in joint ventures |  |  | 1,427,847 |  |  |  |  | 887,782 |  |
Total on December 31, 2023 |  |  | 9,616,840 |  |  |  |  |  |  |
Total on December 31, 2023 |  |  |  |  |  |  |  | 2,101,681 |  |
(1) |  | The adjustments resulting from the evaluation consider the results determined, periodically, by the companies and include equity variations of the investees not resulting from results, as well as adjustments due to the equalization of accounting practices, when applicable;
(2) |  | Revenue from financial intermediation or revenue from the provision of services;
(3) |  | Companies with equity accounting using statements of financial position with a reporting date delay of up to 60 days;
(4) |  | Dilution of participation due to the entry of a new shareholder with the issuance of new shares;
(5) |  | It primarily includes investments in public companies Cielo S.A. and Fleury S.A. The Group received R$249,649 thousand in interest on equity in the year ended December 31, 2023, referring to Empresa Cielo S.A.; and
(6) |  | Brazilian company, provider of services related to credit and debit cards and other means of payment. Up to December 31, 2023, the Group received R$722,650 thousand in dividends from this investment.
Schedule of changes in associates and joint ventures |
Schedule of changes in associates and joint ventures |  |
| R$ thousands
2024 | 2023
Initial balances | 9,616,840 | 8,970,513
Acquisitions | 1,432,959 | 14,333
Share of profit of associate and joint ventures | 1,531,585 | 2,101,681
Dividends/Interest on equity | (1,695,067) | (936,478)
Other | 142,695 | (533,209)
Balance on December 31 | 11,029,012 | 9,616,840

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