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RISK MANAGEMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Notes and other explanatory information [abstract]  
Schedule of main metrics established by prudential regulation
   
Calculation basis - Basel Ratio R$ thousands
Basel III
On December 31, 2024 On December 31, 2023
Prudential Conglomerate
Regulatory capital - values    
Common equity 106,012,668 110,689,318
Level I 124,632,919 125,412,066
Reference Equity - RE 149,109,173 149,969,145
Risk-weighted assets (RWA) - amounts    
Total RWA 1,008,667,813 947,737,574
Regulatory capital as a proportion of RWA    
Index of Common equity - ICP 10.5% 11.7%
Tier I Capital 12.4% 13.2%
Basel Ratio 14.8% 15.8%
Additional Common Equity (ACP) as a proportion of RWA    
Additional Common Equity Conservation - ACPConservation 2.50% 2.50%
Additional Contracyclic Common Equity - ACPContracyclic 0.00% 0.00%
Calculation basis - Basel Ratio R$ thousands
Basel III
On December 31, 2024 On December 31, 2023
Prudential Conglomerate
Additional Systemic Importance of Common Equity - Systemic ACPS 1.00% 1.00%
Total ACP (1) 3.50% 3.50%
Excess Margin of Common Equity 2.51% 3.68%
Leverage Ratio (AR)    
Total exposure 1,860,789,433 1,714,042,678
AR 6.7% 7.3%
Short Term Liquidity Indicator (LCR)    
Total High Quality Liquid Assets (HQLA) 184,606,844 248,691,252
Total net cash outflow 130,795,356 129,797,562
LCR 141.1% 191.6%
Long Term Liquidity Indicator (NSFR)    
Available stable funding (ASF) 991,711,546 934,324,784
Stable resources required (RSF) 818,326,687 737,181,037
NSFR 121.2% 126.7%
(1) Failure to comply with ACP (public civil action) rules would result in restrictions on the payment of dividends and interest on equity, net surplus, share buyback, reduction of capital stock, and variable compensation to its managers.
Schedule of credit risk exposure
       
  R$ thousands
On December 31, 2024 On December 31, 2023
Gross value Expected credit loss Gross value Expected credit loss
Financial assets        
Cash and balances with banks (Note 5) 146,614,670 -   151,053,972 -  
Financial assets at fair value through profit or loss (Note 6) 371,883,348 -   387,598,377 -  
Debt instruments at fair value through other comprehensive income (Note 8) (1) 156,292,584 (14,306) 212,849,606 (136,884)
Loans and advances to financial institutions (Note 10) 196,421,127 (187,829) 205,103,649 (990)
Loans and advances to customers (Note 11) 720,239,586 (47,857,481) 629,686,699 (50,184,880)
Securities at amortized cost (Note 9) 273,148,967 (6,157,000) 180,352,343 (5,145,266)
Other assets (Note 16) 81,195,242 -   56,958,860 -  
Other financial instruments with credit risk exposure        
Loan Commitments (Note 11 and 24) 342,660,453 (2,447,791) 299,728,458 (2,274,316)
Financial guarantees (Note 11 and 24) 119,229,609 (1,257,645) 105,816,558 (1,202,614)
Total risk exposure 2,407,685,586 (57,922,052) 2,229,148,522 (58,944,950)
(1) Financial assets measured at fair value through other comprehensive income are not reduced by the allowance for losses.
Schedule of concentration of credit risk in loans and advances
   
  R$ thousands
On December 31, 2024 On December 31, 2023
Largest borrower 0.7% 1.1%
10 largest borrowers 4.4% 5.0%
20 largest borrowers 7.0% 7.7%
50 largest borrowers 10.9% 11.4%
100 largest borrowers 14.0% 14.4%
Schedule of the credit risk concentration analysis
       
  R$ thousands
On December 31, 2024 % On December 31, 2023 %
Public sector 6,853,540 1.0 5,756,517 0.9
Private sector 713,386,046 99.0 623,930,182 99.1
Total 720,239,586 100.0 629,686,699 100.0
Companies 316,936,343 44.0 269,421,350 42.8
Real estate and construction activities 23,610,490 3.3 21,251,317 3.4
Retail 37,709,778 5.2 37,908,281 6.0
Services 79,995,896 11.1 59,998,219 9.5
Transportation and concession 28,680,534 4.0 28,194,418 4.5
Automotive 7,553,422 1.0 6,735,346 1.1
Food products 13,677,857 1.9 11,341,529 1.8
Wholesale 20,378,978 2.8 16,342,183 2.6
Production and distribution of electricity 8,633,777 1.2 8,063,510 1.3
Oil, derivatives and aggregate activities 6,918,329 1.0 5,035,237 0.8
Other industries 89,777,282 12.5 74,551,310 11.8
Individuals 403,303,243 56.0 360,265,349 57.2
Schedule of fair value of guarantees of loans and advances to customers
       
  R$ thousands
On December 31, 2024 On December 31, 2023
Book value (1) Fair Value of Guarantees Book value (1) Fair Value of Guarantees
Companies 316,936,343 177,693,556 269,421,350 141,547,243
Stage 1 284,237,991 167,357,458 230,134,580 131,107,974
Stage 2 6,946,383 5,014,721 12,538,317 4,806,138
Stage 3 25,751,969 5,321,377 26,748,453 5,633,131
         
Individuals 403,303,243 278,052,177 360,265,349 239,695,044
Stage 1 347,118,719 248,932,254 298,686,536 210,647,223
Stage 2 21,911,700 18,284,746 22,711,786 19,838,577
Stage 3 34,272,824 10,835,177 38,867,027 9,209,244
Total 720,239,586 455,745,733 629,686,699 381,242,287
(1) Of the total balance of loan operations, R$429,358,197 thousand (December 31, 2023 – R$389,063,079 thousand) refers to operations without guarantees.
Schedule of financial exposure trading portfolio
       
Risk factors R$ thousands
On December 31, 2024 On December 31, 2023
Assets Liabilities Assets Liabilities
Fixed rates 124,477,896 10,549,194 74,840,828 56,337,018
IGP-M (General Index of market pricing) / IPCA (Consumer price index) 2,438,885 2,010,863 14,938,784 10,822,907
Exchange coupon 668,191 -   1,195,092 963,862
Foreign Currency 14,134,242 13,689,527 6,263,810 6,391,302
Equities 10,344,471 9,979,524 7,549,052 5,926,077
Sovereign/Eurobonds and Treasuries 21,988,976 19,627,310 8,664,699 7,497,824
Other 2,839,750 235,287 1,735,873 400,706
Total 176,892,411 56,091,705 115,188,138 88,339,696

 
Schedule of trading portfolio net of tax effects
   
Risk factors R$ thousands
On December 31, 2024 On December 31, 2023
Fixed rates 1,395 3,010
IGPM/IPCA 5,403 7,671
Exchange coupon 181 311
Foreign Currency 4,580 2,507
Sovereign/Eurobonds and Treasuries 2,829 2,003
Equities 4,112 3,283
Other 7,155 2,340
Correlation/diversification effect (9,480) (13,657)
VaR at the end of the year 16,175 7,468
     
Average VaR in the year 19,908 14,916
Minimum VaR in the year 7,723 4,982
Maximum VaR in the year 44,197 45,150
Schedule of VaR internal model based on regulatory portfolio
       
Risk factors R$ thousands
On December 31, 2024 On December 31, 2023
VaR Stressed VaR Stressed
Interest rate 20,444 23,846 22,441 79,660
Exchange rate 24,497 21,405 12,780 7,654
Commodity price (Commodities) 995 2,247 1,188 1,385
Equities 23,212 30,064 6,334 4,904
Correlation/diversification effect (19,896) (28,643) 12,569 (8,333)
VaR at the end of the year 49,252 48,919 55,312 85,270
          
Average VaR in the year 67,082 98,963 66,143 121,567
Minimum VaR in the year 32,264 33,126 26,739 54,047
Maximum VaR in the year 124,674 272,495 156,329 287,868
Schedule of possible loss of the trading book in a stress scenario
   
  R$ thousands
On December 31, 2024 On December 31, 2023
At the end of the year 124,714 148,016
Average in the year 238,134 191,400
Minimum in the year 98,257 94,289
Maximum in the year 473,851 318,578
Schedule of sensitivity analysis based on trading portfolio
             
    R$ thousands
    Trading Portfolio (1)
    On December 31, 2024 On December 31, 2023
    Scenarios Scenarios
    1 2 3 1 2 3
Interest rate in Reais (2) Exposure subject to variations in fixed interest rates and interest rate coupons (69) (24,757) (50,192) (25) (14,760) (27,497)
Price indexes Exposure subject to variations in price index coupon rates (110) (9,118) (16,071) (3,861) (130,968) (266,123)
Exchange coupon Exposure subject to variations in foreign currency coupon rates (5) (670) (1,330) (18) (2,783) (5,489)
Foreign currency Exposure subject to exchange rate variations (2,401) (60,037) (120,073) 1,507 37,669 75,338
Equities Exposure subject to variation in stock prices (1,971) (49,268) (98,536) 1,188 29,696 59,392
Sovereign/Eurobonds and Treasuries Exposure subject to variations in the interest rate of securities traded on the international market (26) (6,451) (13,634) 128 8,831 15,365
Other Exposure not classified in other definitions (61) (1,515) (3,029) (94) (2,341) (4,683)
Total excluding correlation of risk factors (4,643) (151,816) (302,865) (1,175) (74,656) (153,697)
(1) Values net of taxes; and
(2) As a reference for the shocks applied to the 1-year vertex, the values ​​were approximately 372 bps and 722 bps (scenarios 2 and 3 respectively) on December 31, 2024 (on December 31, 2023 - the values ​​were approximately 245 bps and 480 bps in scenarios 2 and 3 respectively).
Schedule of sensitivity analysis based on trading and banking portfolios
             
  R$ thousands
Trading and Banking Portfolios (1)
On December 31, 2024 On December 31, 2023
Scenarios Scenarios
1 2 3 1 2 3
Interest rate in Reais (2) Exposure subject to variations in fixed interest rates and interest rate coupons (10,217) (4,085,285) (7,975,990) (2,113) (845,801) (1,949,962)
Price indexes Exposure subject to variations in price index coupon rates (12,890) (2,209,541) (3,908,207) (20,461) (2,347,022) (4,307,241)
Exchange coupon Exposure subject to variations in foreign currency coupon rates (1,834) (262,983) (507,774) (985) (112,436) (216,387)
Foreign currency Exposure subject to exchange rate variations (5,335) (133,384) (266,768) (2,212) (55,293) (110,585)
Equities Exposure subject to variation in stock prices (32,045) (801,129) (1,602,258) (43,432) (1,085,794) (2,171,588)
Sovereign/Eurobonds and Treasuries Exposure subject to variations in the interest rate of securities traded on the international market 2,296 272,371 525,099 (1,172) (117,366) (229,078)
Other Exposure not classified in other definitions (45) (1,115) (2,230) (41) (1,016) (2,031)
Total excluding correlation of risk factors (60,070) (7,221,066) (13,738,128) (70,416) (4,564,728) (8,986,872)
(1) Values net of taxes; and
(2) As a reference for the shocks applied to the 1-year vertex, the values ​​were approximately 372 bps and 726 bps (scenarios 2 and 3 respectively) on December 31, 2024 (on December 31, 2023 - the values ​​were approximately 269 bps and 548 bps in scenarios 2 and 3 respectively).
Schedule of undiscounted cash flows of financial liabilities
                 
  R$ thousands    
Up to 1 month From 1 to 3 months From 3 months to 1 year From 1 to 5 years More than 5 years Total on December 31, 2024 Total on December 31, 2023    
   
Deposits from banks 274,059,402 22,271,753 31,701,223 21,241,778 4,668,656 353,942,812 320,410,105    
Deposits from customers 184,837,848 26,857,814 126,101,388 278,857,091 654,308 617,308,449 632,337,290    
Securities issued 12,251,131 16,384,554 87,267,005 129,547,726 8,685,869 254,136,285 237,331,491    
  R$ thousands    
Up to 1 month From 1 to 3 months From 3 months to 1 year From 1 to 5 years More than 5 years Total on December 31, 2024 Total on December 31, 2023    
   
Subordinated debts 1,060,496 56,223 11,534,718 5,334,537 88,174,917 106,160,891 84,376,010    
Insurance contracts liabilities 704,460,151 11,863,822 8,062,275 28,494,532 99,472,391 852,353,171 704,038,858    
Other financial liabilities (1) 55,467,694 30,321,306 7,868,921 5,665,985 1,762,105 101,086,011 82,619,532    
Total liabilities on December 31, 2024 1,232,136,722 107,755,472 272,535,530 469,141,649 203,418,246 2,284,987,619      
Total liabilities on December 31, 2023 1,011,337,350 97,354,025 184,649,748 547,162,896 220,609,267   2,061,113,286    
(1) Includes credit card transactions, foreign exchange transactions, negotiation and intermediation of securities, leases and capitalization bonds.
Schedule of derivative financial liabilities
                 
  R$ thousands    
Up to 1 month From 1 to 3 months From 3 months to 1 year From 1 to 5 years More than 5 years Total on December 31, 2024 Total on December 31, 2023    
   
Differential of swaps payable 267,039 242,327 364,726 2,772,920 12,186,142 15,833,154 3,101,273    
Non-deliverable forwards 1,366,512 345,147 1,026,248 277,615 -   3,015,522 3,987,714    
 Purchased 232,414 8,670 12,368 1,757 -   255,209 1,109,371    
Sold 1,134,098 336,477 1,013,880 275,858 -   2,760,313 2,878,343    
Premiums of options 643,110 59,827 225,039 725,126 3,552 1,656,654 2,236,620    
Other 974,804 338,934 957,565 232,697 -   2,504,000 1,413,851    
Total of derivative liabilities on December 31, 2024 3,251,465 986,235 2,573,578 4,008,358 12,189,694 23,009,330      
Total of derivative liabilities on December 31, 2023 5,506,835 862,607 1,745,089 1,434,610 1,190,317   10,739,458    
Schedule of financial assets and liabilities
                   
  R$ thousands    
Current Non-current Total on December 31, 2024 Total on December 31, 2023    
1 to 30 days 31 to 180 days 181 to 360 days 1 to 5 years More than 5 years No stated maturity    
   
Assets                    
Cash and balances with banks 146,614,670 -   -   -   -   -   146,614,670 151,053,972    
Financial assets at fair value through profit or loss 354,133,871 2,649,353 1,620,041 7,732,404 5,747,679 -   371,883,348 387,598,377    
Debt instruments at fair value through other comprehensive income 35,826,103 17,697,059 7,431,699 37,659,332 57,678,391 -   156,292,584 212,849,606    
Loans and advances to customers, net of impairment 103,734,116 144,751,405 95,308,987 245,881,589 82,706,008 -   672,382,105 579,501,819    
Loans and advances to financial institutions, net of impairment 178,508,047 10,711,208 2,390,034 4,624,009 -   -   196,233,298 205,102,659    
Securities, net of provision for expected losses 26,624,590 17,296,633 16,122,409 148,260,712 58,687,623 -   266,991,967 175,207,077    
Other financial assets (1) 65,193,895 4,498,966 1,691,252 7,551,498 2,259,631 -   81,195,242 56,958,860    
Total financial assets on December 31, 2024 910,635,292 197,604,624 124,564,422 451,709,544 207,079,332 -   1,891,593,214      
Total financial assets on December 31, 2023 829,873,144 177,115,114 119,754,483 446,666,021 194,863,608 -     1,768,272,370    
                     
Liabilities                    
Deposits from financial institutions 288,327,975 34,522,663 18,795,160 19,429,536 742,976 -   361,818,310 323,422,783    
Deposits from customers (2) 213,815,777 54,767,505 92,123,905 283,423,348 207,928 -   644,338,463 621,934,680    
Securities issued 13,379,511 46,150,077 76,015,135 114,001,784 8,430,837 -   257,977,344 244,966,258    
Subordinated debts 1,052,551 388,396 10,316,004 3,953,583 23,128,142 18,620,251 57,458,927 50,337,854    
Other financial liabilities (3) 55,467,694 30,321,306 7,868,921 5,665,985 1,762,105 -   101,086,011 82,619,532    
Financial liabilities at fair value through profit or loss 1,893,402 2,752,811 1,626,958 6,510,353 3,457,087 -   16,240,611 15,542,220    
Other financial instruments with credit risk exposure             -        
Loan Commitments -   -   -   2,447,791 -   -   2,447,791 2,274,316    
Financial guarantees 142,661 -   -   1,114,984 -   -   1,257,645 1,202,614    
Liabilities of insurance contracts (2) 311,308,769 11,677,891 7,699,325 22,976,197 25,130,638 -   378,792,820 344,792,222    
Total financial liabilities on December 31, 2024 885,388,340 180,580,649 214,445,408 459,523,561 62,859,713 18,620,251 1,821,417,922      
Total financial liabilities on December 31, 2023 549,101,588 133,303,860 154,358,801 625,925,479 209,680,003 14,722,748   1,687,092,479    
(1) Includes, primarily, foreign exchange operations, debtors for guarantee deposits and trading and intermediation of values;
(2) Demand and savings deposits and insurance contract liabilities, represented by “VGBL” and “PGBL” products, are classified within a period of 1 to 30 days, without considering the historical average turnover; and
(3) Primarily includes credit card operations, foreign exchange operations, trading and intermediation of securities, financial leasing and capitalization plans.
Schedule of current and non-current assets and liabilities
       
  R$ thousands
Current Non-current Total on December 31, 2024 Total on December 31, 2023
Assets        
Total financial assets 1,232,804,338 658,788,876 1,891,593,214 1,768,272,370
Non-current assets held for sale 3,494,950 -   3,494,950 1,328,530
Investments in associated companies -   11,029,012 11,029,012 9,616,840
Property and equipment -   10,220,444 10,220,444 11,118,009
Intangible assets and goodwill -   23,749,208 23,749,208 22,107,146
Current income and other tax assets 4,409,951 7,354,225 11,764,176 12,964,018
Deferred income tax assets 38,356,264 63,452,279 101,808,543 92,518,924
Other assets 13,008,520 2,816,295 15,824,815 9,597,412
Total non-financial assets 59,269,685 118,621,463 177,891,148 159,250,879
Total assets on December 31, 2024 1,292,074,023 777,410,339 2,069,484,362 1,927,523,249
Total assets on December 31, 2023 1,153,654,161 773,869,088   1,927,523,249
         
Liabilities        
Total financial liabilities 1,280,414,397 541,003,525 1,821,417,922 1,687,092,479
Other provisions 4,013,979 16,019,795 20,033,774 22,337,844
Current income tax liabilities 2,043,616 -   2,043,616 1,546,656
Deferred income tax liabilities -   1,664,666 1,664,666 1,607,527
Other liabilities 53,062,657 2,319,235 55,381,892 47,924,619
Total non-financial liabilities 59,120,252 20,003,696 79,123,948 73,416,646
Total shareholders’ equity -   168,942,492 168,942,492 167,014,124
Total shareholders’ equity and liabilities on December 31, 2024 1,339,534,649 729,949,713 2,069,484,362 1,927,523,249
Total shareholders’ equity and liabilities on December 31, 2023 1,137,312,761 790,210,488   1,927,523,249
Schedule of financial assets and liabilities measured at fair value
       
  R$ thousands
On December 31, 2024
Level 1 Level 2 Level 3 Fair Value
Financial assets at fair value through profit or loss 308,064,812 41,731,862 2,251,689 352,048,363
Brazilian government bonds 263,224,363 -   -   263,224,363
Corporate debt and marketable equity securities 30,626,530 8,759,461 2,251,689 41,637,680
Bank debt securities 4,010,896 32,972,401 -   36,983,297
Mutual funds 9,368,468 -   -   9,368,468
Foreign government securities 468,521 -   -   468,521
Brazilian government bonds issued abroad 366,034 -   -   366,034
Derivatives (2,537,088) 6,551,467 (420,005) 3,594,374
Derivative financial instruments (assets) 3,199,679 16,497,753 137,553 19,834,985
Derivative financial instruments (liabilities) (5,736,767) (9,946,286) (557,558) (16,240,611)
Debt instruments at fair value through other comprehensive income 152,116,761 3,061,706 1,114,117 156,292,584
Brazilian government bonds 123,817,265 -   11,750 123,829,015
Corporate debt securities 1,467,682 182,142 -   1,649,824
Bank debt securities 1,115,295 2,879,564 17,438 4,012,297
Brazilian government bonds issued abroad 8,960,333 -   -   8,960,333
Foreign government securities 8,324,658 -   -   8,324,658
Mutual funds 4,951,794 -   -   4,951,794
Marketable equity securities and other stocks 3,479,734 -   1,084,929 4,564,663
Total 457,644,485 51,345,035 2,945,801 511,935,321

 

         
  R$ thousands
On December 31, 2023
Level 1 Level 2 Level 3 Fair Value
Financial assets at fair value through profit or loss 315,355,048 56,028,649 801,331 372,185,028
Brazilian government bonds 277,460,786 5,125,479 1 282,586,266
Corporate debt and marketable equity securities 25,063,901 10,392,525 801,330 36,257,756
Bank debt securities 3,334,171 40,510,645 -   43,844,816
Mutual funds 9,323,075 -   -   9,323,075
Foreign government securities 118,948 -   -   118,948
Brazilian government bonds issued abroad 54,167 -   -   54,167
Derivatives (1,840,440) 2,087,979 (376,410) (128,871)
Derivative financial instruments (assets) 3,939,198 11,321,165 152,986 15,413,349
Derivative financial instruments (liabilities) (5,779,638) (9,233,186) (529,396) (15,542,220)
Debt instruments at fair value through other comprehensive income 206,067,520 5,218,058 1,564,028 212,849,606
Brazilian government bonds 183,192,342 -   16,606 183,208,948
Corporate debt securities 1,138,187 231,779 -   1,369,966
Bank debt securities 1,087,286 4,986,279 307,793 6,381,358
Brazilian government bonds issued abroad 6,670,043 -   -   6,670,043
Foreign government securities 7,404,755 -   -   7,404,755
Mutual funds 2,282,963 -   -   2,282,963
Marketable equity securities and other stocks 4,291,944 -   1,239,629 5,531,573
Total 519,582,128 63,334,686 1,988,949 584,905,763
Schedule of derivative financial instruments measured at fair value
             
  R$ thousands    
Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income Assets Derivative Liabilities Derivatives Total    
   
On December 31, 2022 700,473 1,419,682 109,856 (644,689) 1,585,322    
Included in profit or loss 117,985 26,923 -   -   144,908    
Included in other comprehensive income -   197,493 -   -   197,493    
Acquisitions 36,456 -   43,130 -   79,586    
Write-offs (53,583) (80,070) -   115,293 (18,360)    
Transfers (to)/from other levels (1) -   -   -   -   -      
On December 31, 2023 801,331 1,564,028 152,986 (529,396) 1,988,949    
Included in profit or loss (196,056) (138,588) -   -   (334,644)    
Included in other comprehensive income -   -   -   -   -      
Acquisitions 1,690,098 9,342 -   (28,162) 1,671,278    
Write-offs (43,684) (56,600) (15,433) -   (115,717)    
Transfer between categories -   (248,782) -   -   (248,782)    
Transfers (to)/from other levels (1) -   (15,283) -   -   (15,283)    
On December 31, 2024 2,251,689 1,114,117 137,553 (557,558) 2,945,801    
(1) These securities were reclassified between levels 2 and 3, as there was an increase in credit risk and the spread curve has unobservable parameters. When there is a reduction in this credit risk, the securities are transferred from level 3 to level 2.
Schedule of consolidated statement of income for Level 3 assets and liabilities
         
  R$ thousands    
Financial assets at fair value through profit or loss Financial assets at fair value through other comprehensive income Total    
   
Interest and similar income 12,312 26,923 39,235    
Net trading gains/(losses) realized and unrealized 105,673 197,493 303,166    
Total on December 31, 2023 117,985 224,416 342,401    
           
Interest and similar income 37,698 30,616 68,314    
Net trading gains/(losses) realized and unrealized (233,754) (169,204) (402,958)    
Total on December 31, 2024 (196,056) (138,588) (334,644)    
Schedule of sensitivity analysis for financial assets
           
  R$ thousands
On December 31, 2024
Impact on income (1) Impact on shareholders’ equity (1)
1 2 3 1 2 3
Interest rate in Reais -   -   -   (1) (326) (624)
Price indexes -   -   -   -   -   -  
Exchange coupon -   -   -   (1) (189) (371)
Foreign currency -   -   -   94 2,354 4,708
Equities 4,632 115,811 231,622 10,672 266,793 533,585

 

 

  R$ thousands
On December 31, 2023
Impact on income (1) Impact on shareholders’ equity (1)
1 2 3 1 2 3
Interest rate in Reais -   -   -   (3) (622) (1,181)
Price indexes -   -   -   (106) (13,739) (25,648)
Exchange coupon -   -   -   (2) (308) (603)
Foreign currency -   -   -   106 2,656 5,312
Equities 3,966 99,152 198,303 6,695 167,386 334,772
(1) Values net of taxes.
Schedule of financial instruments not measured at fair value
         
  R$ thousands
On December 31, 2024
Fair Value Book value
Level 1 Level 2 Level 3 Total
Financial assets (1)          
Loans and advances          
·  Financial Institutions -   196,235,524 -   196,235,524 196,233,298
·  Customers -   -   727,760,109 727,760,109 720,239,586
Securities at amortized cost 151,449,296 98,794,868 10,067,466 260,311,630 273,148,967
           
Financial liabilities          
Deposits from banks -   -   374,212,384 374,212,384 361,818,310
Deposits from customers -   -   644,856,874 644,856,874 644,338,463
Securities issued -   -   259,054,688 259,054,688 257,977,344
Subordinated debt -   -   58,990,729 58,990,729 57,458,927

 

           
  R$ thousands
On December 31, 2023
Fair Value Book value
Level 1 Level 2 Level 3 Total
Financial assets (1)          
Loans and advances          
·  Financial Institutions -   205,228,671 -   205,228,671 205,102,659
·  Customers -   -   625,991,386 625,991,386 629,686,699
Securities at amortized cost 64,639,588 104,956,610 8,999,978 178,596,176 180,352,343
           
Financial liabilities          
Deposits from banks -   -   332,089,303 332,089,303 323,422,783
Deposits from customers -   -   599,473,510 599,473,510 621,934,680
Securities issued -   -   226,021,936 226,021,936 244,966,258
Subordinated debt -   -   52,423,119 52,423,119 50,337,854
(1) The amounts of loans and advances are presented net of the allowance for impairment losses.
Schedule of risk concentration
           
Insurance liabilities R$ thousands
On December 31
2024 2023
Gross Reinsurance Net of tax Gross Reinsurance Net of tax
Life 23,171,925 36,481 23,135,444 22,346,065 24,661 22,321,404
Pension plans 335,365,123 -   335,365,123 304,335,063 -   304,335,063
Non-Life 3,603,721 49,327 3,554,394 3,201,521 10,221 3,191,300
Health (Health and Dental) 16,651,962 -   16,651,962 14,909,509 -   14,909,509
Schedule of sensitivity test substantially for pension portfolio
       
On December 31, 2024 - R$ thousand
Interest Rate - Variation of +5% (*) Results in the insurance liabilities (**)
Pension Plans (266,988)
(*)

To better reflect the interest rate risk, the projected profitability of balances was sensitized and the bottom-up rate, used to discount flows, was not sensitized.

 

On December 31, 2024 - R$ thousand
Conversion into Income - variation of + 5% Results in the insurance liabilities (**)
Pension Plans (51,127)
       
       
On December 31, 2024 - R$ thousand
Longevity (Improvement) - Variation of +0,2% Results in the insurance liabilities (**)
Pension Plans (185,666)
(**)  Reinsurance is not subject to the application of the shock, as it is a non-proportional and immaterial contract.
Schedule of sensitivity variation in the loss ratio
       
Sensitivity - Variation of 1% R$ thousands
Gross of reinsurance Net of reinsurance
On December 31, 2024 On December 31, 2023 On December 31, 2024 On December 31, 2023
Non-Life (56,151) (54,511) (55,887) (54,324)
Life (38,389) (34,000) (38,185) (33,811)
Health (Health and Dental) (226,001) (200,709) (226,001) (200,709)