BDMG – The Development Bank of Minas Gerais

BDMG – The Development
Bank of Minas Gerais
Presentation of Results - 2013
Mission
To be an innovative bank, partner of customers in financial solutions
for business enterprises, committed to the generation of opportunities
and the sustainable development of Minas Gerais.
Vision
To be crucial to the development of Minas Gerais.
Values
•
Commitment to customer’s success and satisfaction.
•
Excellence in management and innovative approach.
•
Appreciation and integration of people.
•
Commitment to quality of life and sustainability.
•
Ethics and transparency.
•
Results orientation.
•
Commitment to shareholders.
Disclaimer
This material is a presentation of general information of the Development Bank of
Minas Gerais. These are summarized information without intending to be complete,
and should not be construed as a recommendation.
This presentation is strictly confidential and may not be disclosed to any other
person . No declaration or any warranty are given to the accuracy, adequacy or
completeness of any information presented. This presentation was prepared
exclusively for information purposes and should not be construed as a solicitation,
offer or invitation to buy or sell any securities and should not be treated as
investment advice. This presentation should not be used as the basis for any
agreement.
This presentation contains forward-looking statements, which are only estimates
and are not guarantees of future performance. Investors should be aware that such
forward-looking statements are and will be, as the case may be, subject to many
risks, uncertainties and factors relating to the operations of BDMG that can cause
their actual results to differ materially from forward-looking information contained in
this presentation. Although BDMG believes that the estimates and considerations
reflected in the forward-looking information in this presentation are reasonably
based on currently information available to BDMG’s management, BDMG can not
guarantee future results or events. BDMG won´t update any of the information
contained herein, including, but not limited, to forward-looking information, and
information contained in this presentation are subject to change without notice to
recipients of this presentation. Still, past performance is not indicative of BDMG of
future results.
The State of Minas Gerais
01
BDMG Summary
02
Corporate Governance
03
Operational Performance
04
General Performance| Micro ad Small| Medium and Big Enterprises| Setor Público | Innovation
Economic and Financial Performance
05
Credit Portfolio and other assets| Funding e capitalization | Results
Culture and Citizenship
06
Attachments
07
Financial Statements| Corporate Structure| Composition of the Executive Management| Corporate
Governance and Internal Policies| Partners and Correspondent Banking| Curriculum Vitae
4
The State of Minas Gerais
01
Context
BRAZIL
MINAS GERAIS
587,000
853
20
5.4
Km2
Number of municipalities
Population
MILLION
Metropolitan
area
MILLION
Source: SEDE-MG.
5
The State of Minas Gerais
01
Economy
rd
3
largest economy in
Brazil
GDP: US$ 230* BILLION | 9,3% of Brazil’s GDP in 2011
61%
Services
GDP growth | yearly average of 3.6% (2013-2010)
30%
Industry
Exports | US$ 33.4 BILLION in 2013 (13,7% Brazil)
9% Agriculture
*Average 2011 Exchange rate: US$1 = R$1,67
6
The State of Minas Gerais
1st
Industry
01
iron ore producer in Brazil
53% national production (2013)
2nd automotive hub of Brazil
25% of national vehicle production (2012) and expanding the truck industry
Largest
Cement producer | 22% of national production in 2012
Steel producer | 32% of crude steel production in 2012
Helicopters | The only helicopter manufacturer plant in South America
7
The State of Minas Gerais
Agribusiness
01
COFFEE
56% of Brazilian production | 27.6 thousands coffee sacks in 2013
MILK and dairy products
1st milk and cheese producer | 8.9 billion liters in 2012
ETHANOL & SUGAR
3rd producer of ethanol | 2.0 billion liters in 2011/2012 crop
2nd sugar producer | 3.2 billion tons (9% of national production)
BEEF
2rd largest cattle herd in Brazil | US$ 370 million in beef exports in 2012
8
BDMG Summary
01
• The Development Bank of Minas Gerais (“BDMG”) is a financial institution founded in 1962 and controlled by the state
of Minas Gerais, focused on promoting the economic and social development of the State;
• It’s actions are distributed throughout the territory of the State, and serves a variety of sectors of the economy,
including industry, agriculture, agribusiness, trade and services. Besides these sectors, BDMG finances infrastructure
projects and urbanization in municipalities of Minas Gerais;
• Operates with its own resources and as a financial agent of BNDES, BNB and Caixa Econômica Federal, as well as
being the financial agent of the state development funds.
• The Bank has its strategy focused in support of micro, small and medium business enterprises, investments in
municipal infrastructure and promoting innovation.
A reference for creating financial solutions for companies and
covering market gaps.
Multiply the micro,
small and mediumsize customer base.
Be a partner of the
State and the
municipalities,
supporting the
implementation of
public projects and
policies.
Support the
companies that
want to grow with
innovation and
sustainability.
Source: BDMG
9
BDMG Summary
01
• BDMG has a portfolio of more than fifteen thousand customers in all regions of Minas Gerais. From small
entrepreneurs to big companies, from rural farmers to municipalities, there are numerous cases of successful
partnerships between entrepreneurs in the state and the Bank that finances their projects.
• BDMG has financing contracts with customers located in 734 municipalities of Minas Gerais, which represent 84% of
all municipalities in the state.
Source: BDMG
10
BDMG Summary in 2013
671
contracts
PAVING AND
SANITATION
WORKS
422
Projects BDMG supports
01
BDMG has 671 active contracts with 422 municipalities of Minas
Gerais, the funds were released for paving and drainage works,
purchase of machinery and equipment and sanitation works.
municipalities
financing
200
BDMG is financing the acquisition of about 200 buses in the
Metropolitan BH. Most of the R$ 83 million financing will benefit the
Bus Rapid Transit Project of which R$ 31 million was released in 2013.
buses
TRANSPORT
BUSES
construction
37
MUNICIPAL
SCHOOLS
municipal
schools
BDMG supports the construction of 37 municipal schools through
the Public-Private Partnership (PPP) between the Municipality of Belo
Horizonte (PBH) and Inova BH, a Special Purpose Entity (SPE) leaded
by Odebrecht, which received R$ 96 million in funding from BDMG in
2013 .
Source: BDMG
11
BDMG Summary in 2013
released
R$18
METROPOLITAN
HOSPITAL
million
released
R$10
million
Projects BDMG supports
01
BDMG will finance R$ 90 million for the construction of the New
Metropolitan Hospital. In 2013, R$ 18 million was disbursed for the
project, refocusing the emergency medical care in the Metropolitan
Area and offering services of all the medical complexities to the public
in the Southern Belo Horizonte.
Fashion Mall, a green field investment of R$100 million for a
wholesale shopping complex, is under construction with the support
from BDMG. In 2013, R$ 10 million has been released for this project.
FASHION
CITY
released
R$50
million
TRANSMISSION
LINES
R$ 50 million was released in 2013 to a holding company that controls
a Special Purpose Entity (SPE) in charge of the project to construct
and operate
power transmission lines between Ibiraci and Ouro
Preto. The concession has an estimated investment of R$ 367 million
and will reinforce the energy system of the central area of Minas
Gerais.
Source: BDMG
12
BDMG Summary
Environmental Responsibility
01
• BDMG has international partnerships to finance projects of great social and
environmental impact, as established with the French Agency for Development (AFD),
to help finance municipal infrastructure projects for climate issues and the
universalization of basic services.
•
The Bank grants priority to enterprises with environmental focus through the Office of
Innovation – a specific unit for guidance on sustainability and for financial instruments
to projects with environmental benefits and innovation.
•
In 2013, BDMG supported innovative projects in 25 companies, disbursing R$ 10.6
million through the Pro-innovation and Proptec*, a product under the partnership
between BDMG and the Foundation for Research Support of the State of Minas Gerais
- FAPEMIG. Total balance of disbursement reached R$ 47 million in 2013.
INNOVATION
•
A partnership with FINEP was also established in 2013, allowing BDMG to operate
under the Inovacred, a federal program fostering innovation.
•
Venture capital: BDMG has a minority stake at privately managed equity funds:
Horizonti Fund, Brazil Sustainability Fund Brazil IT and Criatec.
Source: BDMG
(*) Proptec - Enterprise and Technology Parks Support Program
13
BDMG Summary
01
Ownership Structure
CODEMIG
Highways Department
of Minas Gerais
STATE OF MINAS GERAIS
(Development Company
of Minas Gerais)
89.8406%
0.0001%
10.1593%
The Development Bank of
Minas Gerais
100.0%
BDMGTEC Shareholdings
BDMGTEC Shareholdings
SIX Semiconductors S.A*
Entity
Ratings
State of MG
BDMG
BIOMM S.A**
Standard & Poor’s
Moody’s
Global
National
Global
National
BBB-
AAA.br
Baa3
-
BBB-
AAA.br
Baa3
Aa1.br
(*)The BDMGTEC will take 7.2% of the shares, after the total investment of R$ 48 million, of which R$ 16 million has been transferred to SIX.
( **)The participation of BDMGTEC will be 8.13% of the share capital, with an input of R$ 28. million.
14
BDMG Summary
Equity Interest
•
02
Six Semiconductors S.A.: The Argentinian group Corporación América acquired the
entire shareholding from EBX Group in the company SIX Semiconductors. The
shareholding corresponds to 33.02% of the voting capital, whose factory is at a late
stage of construction in the Metropolitan Region of Belo Horizonte. The ram up of
operations is scheduled for 2015. SIX Semiconductors is a partnership between private
groups, BNDESPar, BDMGTEC and IBM. BDMGTEC participates with 7.2% of the share
capital, having disbursed R$ 16 million of a planned total of R$ 48.3 million.
•
BIOMM S.A.: The project is a biopharmaceutical plant for the production of insulin, with
total investments of R$ 330 million, scheduled for completion on the 1st semester 2016.
BDMG and Fapemig will participate with R$ 56 million in the form of funding, and
BDMGTEC subscribed 8.13% of the share capital, with an input of R$ 28.9 million.
Source: Financial Statements December / 2013
15
Governance and Organizational Structure
02
The Executive Board’s members must be approved by the Central Bank of Brazil.
At least 2 of the 6 members of the Executive Board must be career employees of the Bank. ¹
Lending operations of up to 20% equity do not require resolution of the Board. ² The maximum heave
approval of loans is the Executive Board³.
Credit Committee approves up to 1% equity operations unanimously or by committees of areas
where operations are up to 0.2% equity.
Management positions at all levels are unique to career employees.
Source: BDMG
1According to the bylaws of BDMG, Art. 13, §1º |2 Art.15, section II, paragraph "e" | ³Credit Policy BDMG
16
Operational Performance
03
Total Disbursement
Number of Total Customers
Values in R$ Millions
19%
16,604
46%
2,090
13,936
12,611
2010
12,905
2011
2012
2013
1,393
1,366
2010
2011
1,432
2012
2013
Source: BDMG
17
Operational Performance
03
Micro and Small Enterprises
Number of New Customers
Disbursement
Values in R$ Millions
5,441
5,392
611
29%
26%
519
4,179
408
2,818
2010
2011
303
2012
2013
2010
2011
2012
2013
Source: BDMG
18
Medium /Large Companies
and Municipalities
Operational Performance
Number of New Customers
03
Disbursement
Values in R$ Millions
230
1,044
209
208
661
108
584
115
93
431
441
74
64
57
45
44
207
203
38
149
196
222
219
86
2010
Large Company
2011
2012
Medium Company
2013
Municipalities
2010
Large Company
2011
2012
Medium Company
2013
Municipalities
Source: BDMG
19
Economic and Financial Performance
Credit Portfolio and Assets
Total Assets *
Equity Evolution *
Values in R$ Millions
04
1,714
Values in R$ Millions
4,901
1,313
34%
30%
1,123
3,651
1,023
2,862
2,346
2010
2011
2012
2013
2010
2011
2012
2013
Revenues Evolution
Credit Portfolio
Values in R$ Millions
Values in R$ Millions
466
4,148
410
44%
2,873
338
341
2010
2011
13%
2,130
1,518
2010
2011
2012
2013
2012
Source: Financial Statements December2013
(*)Due to changes in accounting practices adopted by the Bank in recognition of employee benefits, as amended by CPC 33 (R1)
effective from January 1, 2013, the corresponding values for 2012, presented for comparative purposes, were adjusted and are being
restated.
2013
20
Economic and Financial Performance
Credit Portfolio
Credit Portfolio by Type of Funds
04
Active Portfolio Guarantee*
4,148
Values in R$ Millions
6%
2,873
52%
2,130
Mortgage
50%
40%
1,518
Pledge
59%
85%
Trust Property
48%
69%
Other
50%
25%
41%
31%
2010
2011
2012
Official Int. Tranfers
2013
Own Resources
* BDMG has 156% of its Portfolio Credit covered by guarantees
Portfolio Concentration
100%
100%
49%
50%
25%
21%
19%
1,029.6
66%
65%
48%
1.484
100%
100%
70%
69%
Maturity of de
Credit
Portfolio
Carteira
Crédito
50%
682.9
25%
261.6
14.8
2010
10 biggest
674.7
2011
50 biggest
2012
100 biggest
2013
TOTAL
1
Overdue Maturing in Maturing in Maturing in Maturing in Maturing in Maturing in
from 15 3 months
3 - 12
1 - 3 years 3 - 5 years
5 - 15
> 15 years
days
months
years
Source: Financial Statements December / 2013
21
Economic and Financial Performance
Credit Portfolio by Economic Sector
04
Credit Portfolio
Credit Portfolio by Enterprise Size*
4,148
4,148
1%
13%
8%
7%
4%
2,873
1%
2,130
1,518
2%
8%
16%
16%
2%
6%
13%
15%
19%
52%
6%
11%
18%
1,518
47%
46%
12%
19%
2,130
13%
14%
18%
17%
41%
9%
11%
2,873
19%
9%
6%
17%
11%
13%
31%
33%
41%
40%
45%
31%
26%
14%
2010
Others
Trade
2011
Rural
Services
2012
Public Sector
Source: Financial Statements December / 2013
2013
Manufacturing
2010
2011
2012
Public Sector
Individuals
Medium
Large Company
2013
Micro and Small
(*)Central Bank’s criterion.
22
Economic and Financial Performance
04
Credit Portfolio
Distribution of the Portfolio by Rating*
Criteria of Resolution 2682 *
6%
6%
15%
10%
8%
5%
13%
20%
17%
17%
22%
21%
21%
15%
21%
17%
46%
47%
2011
2012
37%
36%
2010
D-H
C
B
2013
A
AA
Source: Financial Statements December / 2013
23
Economic and Financial Performance
Position in Risk
04
Delinquency
Distribuição da Carteira por
Rating ( > 90 days)
4,5
4,8
5,1
5,3
5,5
5,5
5,4
5,5
4,6
1,8
1,8
1,6
1,2
0,8
6
5,5
9
0,6
12
3
2011
6
2012
BDMG*
0,6
0,5
9
12
1,2
1,1
3
6
9
4,5
4,2
1,4
1,4
10
12
2013
Private National Financial System
Source: Financial Statements December / 2013
(*) The Delinquency index is calculated based on the total balance of costumer contracts with overdue installments of more than 90
days.
24
Economic and Financial Performance
Other Assets
04
Interbank Investments
Values in R$ Millions
2010
2011
2012
2013
Financial Treasury (Notes and Bills)
5
69
342
28
Debenture
-
-
-
-
Interbank Deposits
385
336
12
12
(-) Allowance for Losses
(13)
(13)
(12)
(12)
Total
377
392
342
28
Marketable Securities
Values in R$ Millions
2010
Financial Treasury (Notes and Bills)
Debenture
Investment Fund Quotas
Bank Deposits Certificates
Total
2011
2012
2013
318
123
193
360
4
-
-
26
0.3
13
11
16
-
22
-
32
322.3
158
204
434
Source: Financial Statements December / 2013
25
Funding & Liquidity
Financial Performance
04
Funding Evolution
Values in R$ Millions
Domestic onlending – official institutions
2010
2011
2012
2013
BNDES
624
704
787
1,119
FINAME
276
427
495
867
BNB
42
39
36
33
National Treasury
18
16
15
14
1
1
0
0
Total
961
1,187
1,333
2,033
Current
217
239
277
388
Noncurrent
744
948
1,056
1,645
Others
Source: Financial Statements December / 2013
26
Economic and Financial Performance
Funding & Liquidity
04
Funding – Internal Market
In December 2013, BDMG has the following Financial Instruments issued:
• Interbank investments of R$ 51 millions, maturing in the second
Repurchase
Operation
8%
semester of 2015;
• Repurchase Operation of R$ 45 millions, which matured in
II - Bank I
9%
January 2014 and were not renewed;
FB 476 CDI
18%
• Private Financial Bills issued of R$ 104 millions in total, maturing
in 2016;
Private FB
CDI
18%
• Financial Bills issued through CVM Instruction 476 in two series :
FB 476 IPCA
47%
• 1st series: R$ 100 millions maturing in the second semester
of 2015 with yield of CDI + 0.95%;
• 2nd series: R$ 265 millions maturing in the second
semester of 2017 with yield of IPCA+ 4.14%.
Source: Financial Statements December / 2013
27
Economic and Financial Performance
Funding & Liquidity
04
Funding – External Market
•
In August 2013, BDMG established a credit agreement of $ 100 million with the
Corporación Andina de Fomento - CAF, with a 10 years term, a landmark operation for
BDMG. The funds from CAF will finance private sector investments to expand and
modernize the productive capacity of companies in the state.
•
Three tranches were released in 2013, the first tranche of $ 15 million in September,
followed by two of $ 30 million each, all the tranches with a term of 10 years.
•
The resources released by CAF now total R$ 188.1 million.
•
In December, a € 50 million contract with the French Agency for Development– AFD was
signed with a term of 12 years. The funds will finance municipal infrastructure projects for
climate issues and the universalization of basic services within Minas Gerais.
Source: Financial Statements December / 2013
28
Economic and Financial Performance
04
Capital Evolution
• The table below illustrates the commitment of the State of Minas Gerais with the specialization of BDMG over the last
few years, where part of the dividends and interest on capital paid are returned in the form of a capital increase.
• Further on the return of the dividends and interest on capital, the state of Minas Gerais made an input of R $ 200
million in early 2013.
2010
Capital*
2011
2012**
2013
1,003
1,088
1,434
1,692
(50)
(77)
(67)
(76)
Interest on Capital
(41)
(40)
(28)
(76)
Paid Dividends
(8)
(37)
(39)
0
Capital Increased
17
84
346
259
Net Profit**
84
82
75
128
(-) Payments
Basel Index
37%
32%
29%
25%
(*) The line Capital represents the balance at the end of period net of capital to be paid in.
(**) Due to changes in accounting practices adopted by the Bank in recognition of employee benefits, as amended by CPC 33 (R1)
effective from January 1, 2013, the corresponding values for 2012, presented for comparative purposes, were adjusted and are being
restated.
Source: Financial Statements December 2013
29
Economic and Financial Performance
04
Capital Management
Reference Equity*
Basel Index
1,714
37%
1,714
32%
29%
1,303 1,313
1,214
1,147 1,151
1,022 1,023
25%
913
801
673
11%
8%
2010
2011
2012
2013
Tier I
Tier I + II
RWA (Tier I + II - DC)
Minimum RWA
2010
2011
2012
2013
Basel Index (BDMG)
Minimum Basel Index (Brazil)
Minimum Basel Index (International)
Source: Financial Statements December / 2013
(*)Due to changes in accounting practices adopted by the Bank in recognition of employee benefits, as amended by CPC 33 (R1)
effective from January 1, 2013, the corresponding values for 2012, presented for comparative purposes, were adjusted and are
being restated.
30
Economic and Financial Performance
Results
04
Net Profit*
Gross Financial Income
Values in R$ Millions
Values in R$ Millions
128
220
71%
7%
84
205
82
75
198
187
2010
2011
2012
2013
2010
2011
2012
2013
Revenue by Segment
Values in R$ Millions
410
341
9
8
45
50
74
53
133
466
16
51
43
Others
Maketable Securities
166
Services
Official Inst. Tranfers
Own Resources
114
174
190
2012
2013
91
2011
Source: Financial Statements December2013
(*)Due to changes in accounting practices adopted by the Bank in recognition of employee benefits, as amended by CPC 33 (R1)
effective from January 1, 2013, the corresponding values for 2012, presented for comparative purposes, were adjusted and are being
restated.
31
Economic and Financial Performance
Indicators
04
Valores em milhões de reais
ROAA*
ROAE*
3.7%
8.5%
8.3%
3.1%
37%
7.5%
6.2%
2010
2011
2012
3.0%
2.3%
2013
2010
2011
2012
2013
Equity/Assets*
Efficiency Index*
54%
44%
52%
-3%
41%
-15%
50%
30%
36%
35%
2012
2013
46%
2010
2011
2012
2013
2010
2011
Source: Financial Statements December / 2013
(*)Due to changes in accounting practices adopted by the Bank in recognition of employee benefits, as amended by CPC 33 (R1)
effective from January 1, 2013, the corresponding values for 2012, presented for comparative purposes, were adjusted and are
being restated.
32
Economic and Financial Performance
Performance Indicators
Indicators 2013
04
BDMG
ROAA
3%
ROAE
8,5%
Basel Index
25%
Credit Portfolio Growth (2012-2013)
44%
ALL/ Credit Portfolio
4,1%
Delinquency
1,4%
Coverage Ratio (ALL/overdue more than 90 days)
2,9%
NIM (Financial Margin / Average Earning Assets)
6,4%
Efficiency Index
46%
Operational Coverage Ratio (Revenue from Services/(personal
expenses + other administrative expenses)
49%
Source: Financial Statements December / 2013
33
Culture and Citizenship
05
BDMG Cultural: celebrated 25 years of support and encouragement of
culture in Minas Gerais. Activities undertaken in 2013:
•
207 artistic and cultural events, involving 35 cities, 1,520 artists
and close to 30,000 audience members, which meant an
increase over the previous year of 26% in the number of shows
supported by the Cultural BDMG and 45% more cities
prestigious.
Credits: Élcio Paraíso
•
Restoration of the Centennial Bandstand of Liberty Square, in
Belo Horizonte, and support to the filmography in Minas Gerais.
The Institute for Citizenship Employee BDMG - INDEC, kept through
donations from BDMG and its employees, it promotes actions to fight child
malnutrition under the Project Strong Bread and supports low income
teenagers students enrolled at the Federal Technical High School.
Source: Financial Statements December / 2013
34
Attachments
Assets (R$ thousands)
Current Assets
06
Financial Statements
2010
2012
(Restated)
2011
2013
801,364
778,011
956,632
1,132,457
895
1,224
1,158
71,483
Interbank Investments
377,034
292,379
342,333
28,215
Marketable securities
49,001
21,641
0
74,174
354,203
437,125
583,311
912,857
20,231
25,642
29,830
45,728
1,544,316
2,084,386
2,694,233
3,768,596
1,516,666
0
2,058,518
100,179
2,666,980
0
3,705,234
0
273,439
135,619
204,422
373,337
1,046,555
1,575,311
2,148,059
3,064,409
196,561
247,409
291,727
266,763
111
0
22,772
725
27,650
25,868
27,253
63,362
2,345,680
2,862,397
3,650,865
4,901,053
Cash and Banks
Loans
Other assets
Noncurrent Assets
Long term Receivables
Interbank Investments
Marketable securities
Loans
Other receivables
Other assets
Permanent Assets
Total Assets
Source: Financial Statements December 2013
35
Attachments
06
Financial Statements
2012
(Restated)
Liabilities (R$ thousands)
2010
2011
Liabilities
Current Liabilities
Deposits
Open Market Funding
External Onlending
Domestic Onlending - Official Institution
BNDES
FINAME
1,322,371
318,625
0
0
0
216,926
153,308
57,003
1,739,403
438,215
100,184
5,012
0
238,700
170,330
62,624
2,337,610
407,346
59,493
0
0
276,301
189,359
81,372
3,187,448
507,529
0
45,033
1,022
388,266
280,806
101,822
6,615
5,746
5,570
5,638
101,699
94,319
71,552
73,208
Noncurrent Liabilities
Long Term Payables
Deposits
Funds from acceptance and issuance of securities
External Onlending
Domestic Onlending– Official Institution
BNDES
FINAME
Other Institutions
Other Liabilities
Unearned Income
1,003,746
999,370
0
0
0
743,629
470,760
219,309
53,560
255,741
4,376
1,301,188
1,295,135
0
0
0
948,004
534,020
364,449
49,535
347,131
6,053
1,930,264
1,922,297
0
351,267
0
1,056,244
597,672
413,129
45,443
514,786
7,967
2,679,919
2,669,191
50,902
469,490
187,119
1,644,657
838,088
765,302
41,267
317,023
10,728
Equity
1,023,309
1,122,994
1,313,255
1,713,605
Total Liabilities and Equity
2,345,680
2,862,397
3,650,865
4,901,053
Other Institutions
Other Liabilities
2013
Source: Financial Statements December 2013
36
Income Statements (R$ thousands)
06
Financial Statements
Attachments
2010
2011
2012
(Restated)
2013
Financial Income
278,437
279,384
353,964
417,595
Financial Expenses
(80,546)
(92,128)
(149,376)
(197,884)
Gross Financial Income
197,891
187,256
204,588
219,711
Other Operating income (expenses)
(76,666)
(98,362)
(96,079)
(31,728)
Operational Income
121,225
88,894
108,509
187,983
(3,209)
27,200
(2,752)
(5,392)
Income Before Income and social
contribution taxes and profit sharing
118,016
116,094
105,757
182,591
Income and social contribution taxes
(25,120)
(26,190)
(25,940)
(42,612)
Statutory profit sharing
(8,781)
(8,394)
(4,641)
(11,789)
Net Income
84,115
81,510
75,176
128,190
Non Expenses
Source: Financial Statements December 2013
37
06
Corporate Structure
Attachments
General Meeting of
Stockholders
Board of Directors
General Management
Audit
Audit Committee
Executive Board
CEO
Matheus Cotta de Carvalho
President
Vice-Presidency
José Santana de Vasconcellos Moreira
Vice-President
Communication
General Management
CREDIT AND RISK
BOARD
Júlio Onofre Mendes de
Oliveira
Executive Director
General Secretariat
Ombudsman
HR General Management
Superintendent
Innovation Advice
BUSINESS
BOARD
PLANNING AND
DEVELOPMENT BOARD
CORPORATE
MANAGEMENT BOARD
Bernardo Tavares de Almeida
Executive Director
Fernando Lage de Melo
Executive Director
João Antônio Fleury Teixeira
Executive Director
38
Attachments
Board of
Directors
06
NAME
POSITION
Time in BDMG
Paulo Tarso de Almeida Paiva
Chairman
7 years
Dorothéa Fonseca Furquim Werneck
Vice-Chairman
3 years
Ângela Maria Prata Pace Silva de Assis
Board Member
7 years
Fábio Proença Doyle
Board Member
15 years
José Israel Vargas
Board Member
3 years
Leonardo Maurício Colombini Lima
Board Member
4 years
Matheus Cotta de Carvalho
Board Member
3 years
Mauro Lobo Martins Junior
Board Member
4 years
Renata Maria Paes de Vilhena
Board Member
4 years
NAME
POSITION
Time in BDMG
CEO
3 years
José Santana de Vasconcellos
Vice-president
3 years
Bernardo Tavares de Almeida
Director - Business
13 years
Director– Planning and Development
36 years
Director – Corporate Management
3 years
Director – Credit and Risk
35 years
Matheus Cotta de Carvalho
Executive
Board
Composition of the Executive Management
Fernando Lage de Melo
João Antônio Fleury Teixeira
Júlio Onofre Mendes de Oliveira
Source: BDMG
39
Corporate Governance and Internal Policies
Attachments
06
Statutory Bodies
• The governance structure of BDMG consists of five statutory bodies of Directors - Audit Committee, Board of
Directors, Audit Committee, Executive Board and the Credit Committee, in addition to 4 other non-statutory
committees. All organs are directly or indirectly subordinate to the General Meeting of Stockholders.
General Meeting
Fiscal Board
Independent
Audit
Internal
Audit
Board of Directors
3 Members+
substitutes
9 Members
Audit
Committee
3 Members
Management
Committee
Finance
Committee
IT
Committee
RH
Committee
Executive Board
6 Members
General
Managers
Credit Committee
1 Executive Officer + 4
Members
Officers
Committee
Source: BDMG
40
Attachments
Corporate Governance and Internal Policies
06
Board of Directors
• The Board of Directors consists of nine members who formally meet to conduct executive sessions once every month.
Summary minutes of the meetings are published on the website.
• The Board conducts formal evaluations of their performance as organ and performance of the CEO (Chief Executive
Officer).
• The 'modus operandi' of the board is defined by its Internal Rules.
Audit Committee
• No deliberative organ connected to the Board of Directors, it is composed of three independent members, including one
administrative counselor.
• Debate, monitors and advises the Executive Board and the Board of Directors to fix and improve policies, practices and
procedures on matters relating to internal controls, internal and independent audits, controllership, ombudsman,
compliance and risk management to ensure the transparency and integrity of financial statements and the preservation of
best practices for internal controls.
Credit Committee
• O The credit committee consists of five members, and 1 Executive Director, who presides and up to 4 members of Executive
Officers and General Managers, appointed by the CEO, and has a key role in the operations of BDMG, choosing,
necessarily unanimously, the limit and the use of credit in the amount of up to 1% of the equity of the bank.
• Furthermore, the committee has the following duties to approve: (i) the change of guarantee of the financing contract with the
balance due of up to 1% of the equity of Bank, and (ii) the renegotiation and / or modification of contract with balance due up
to 0.15% of Equity of the Bank.
• The credit committee, as authorized by the Bylaws of BDMG, established the officers committee, comprised of General
Managers and Managers, who can decide on transactions up to a limit of 0.2% of the equity of Bank or to $ 700,000 ,
respectively.
Source: BDMG
41
Partners and Correspondent Banking
Attachments
06
Partners
Correspondent Banking
42
Attachments
Curriculum Vitae
•
Chief Executive Officer BDMG (Bank of Development of Minas Gerais)
•
University Education:
•
06
Graduate in Economics-UFMG(University Federal of Minas Gerais), with Post-Graduate in Planning and Finance from Strathclyde
University and Specialization in Economics Theories by UNICAMP.
Carvalho,
Matheus Cotta
•
Main Activities:
•
Director of Operations of the Brazilian Service of Support for Micro and Small Enterprises (“SEBRAE”)-MG.(2005/2010).
•
In Foundation Dom Cabral (2003/2005) was responsible for the development program for a group of 24 large national and
international corporations.
•
Presided The CSN Foundation(1997/2000); National Steel Company.
•
In the Federal Government worked from 1990 to 1996, he served as Special Advisor to the Minister of Labour Paiva,Paulo (19951996) and as Deputy Executive Secretary.
•
Advisor to the Secretary of Economic Policy of the Ministry of Finance Kandir,Antônio (1990-1991) and responsible for the monitoring
of fiscal policy.
•
In State Government of Minas Gerais from 1991 to 1994 worked as Deputy Secretary of Budget Planning Superintendent.
• Vice Chief Executive BDMG (Bank of Development of Minas Gerais)
• University Education:
•
Moreira, José
Santana de
Vasconcelos
Law, UFMG(University Federal of Minas Gerais ),Belo Horizonte,1964-1968
• Main Activities:
•
AMCGIL’s CEO and Mining Society of Agriculture since 2009.(AMCGIL: Mining Breeders Association Dairy Gir).
•
He was an adviser and head of the Office of the Governor Pinheiro,Israel.
•
It was a Congressman (1991/2011), with six mandates, including the Constituent Deputy (1987/1991).
•
In the Legislative Assembly exercised four terms (1971/1987), having been President in the period (1981/1983).
43
Attachments
•
Curriculum Vitae
06
Executive Director responsible for the Directorate of Operations, Technology and Corporate Management
BDMG
Teixeira, João
Antônio Fleury
•
University Education:
•
Postgraduate in Management Training Strategic Level, the Brazilian School of Public Administration - EBAPE
•
Graduate degree in Information Systems Analysis, Organization, Systems and Methods, the Brazilian School of Public Administration
- EBAPE
•
Graduated in Business Administration at AEUDF.
•
Main Activities:
•
State Secretary for Transport and Public Works - 2010/2010,
•
State Secretary to the Department of Transport and Public Works of the State of Minas Gerais-April - 2007/2010,
•
Assistant Secretary of State Secretary of the State of Minas Gerais - 2006/2007,
•
Director of Administration of the Central Bank of Brazil - 2003/2006.
•
Executive Board Director responsible for Product, Channels and Business Intelligence BDMG (Bank of
Development of Minas Gerais)
•
University Education: Civil Engineer, graduated in 1978 from the School of Engineering of the Federal University of Minas
Gerais, and Post-graduate degree in Economic Engineering from the Dom Cabral Foundation.
Melo, Fernando
Lage
•
Main Activities:
•
Undersecretary of Mining-Metallurgical Development and Energy Policy of the Department of Economic Development of Minas
Gerais, 2003-2006,
•
Its specializations Course Agribusiness Projects - IPEA (CENDEC) and World Bank (IDE), the Executive Management Program STC
(Foundation Dom Cabral) and Executive MBA in Organizational Management (IBMEC Business School),
•
Employee career BDMG - Development Bank of Minas Gerais - since 1978. Before assuming his current position, he was Manager of
Division and Department, and has exercised the Presidency of the Management Committee,
•
BDMG Executive Director since 07/03/2007.
44
Attachments
Oliveira, Júlio
Onofre Mendes
Curriculum Vitae
06
•
Executive Director responsible for the Office of Risk and Credit BDMG
•
University Education:
•
Federal University of Minas Gerais - Civil Engineering - Graduate in 1979
•
FDC - Specialization Course in Financial Engineering - Graduate in 1980.
•
IBMEC - Business School - MBA in Organizational Management in 2002
•
Main Activities:
•
Admitted Career Coach in 1979 as a Civil Engineer, in the role of Project Analyst in BDMG
•
Elected Executive Director for Planning and Control - 2002/2003.
•
Appointed Department Manager Credit Recovery - 1997-2000 and 2003-2007.
•
Assigned to the Chief of Staff of the Presidency of BDMG that accumulated, among other duties the Secretary of Institutional
Relations of the Bank - 2000/2002;
•
He was CEO of the Management Committee twice and in March 2008 was appointed to the position of Managing Director for
Planning Control.
Almeida,
Bernardo
Tavares
•
Executive Director responsible for Commercial Officer BDMG
•
University Education:
•
1999: Master in Economics - Economic Regulation, Game Theory, Information Economics - UFMG
•
1996: Degree in Economics - Federal University of Minas Gerais
•
Main Activities:
•
BDMG analyst since 2001, between 2006 and 2009 he served in the Department of Planning and Management of Minas Gerais as
Superintendent of Planning, Budget Superintendent, Assistant Secretary for Planning and Budget and the Assistant Secretary for
Planning and Management.
•
Was project manager of concessions and PPPs in structuring Brazilian Project (EBP) where resigned to assume the position of
executive director of BDMG
45
Contact
Leonardo Leão
[email protected]
+ 55 31 3219 8551