SÃO PAULO, Nov. 4, 2019
/PRNewswire/ -- We present below the differences between our
financial statements in BRGAAP and in International Financial
Reporting Standards – IFRS.
As from January 1st,
2018, IFRS 9 came into effect, the accounting standard that
replaces IAS 39 in the treatment of Financial Instruments. The new
standard is structured to encompass the pillars of classification,
measurement of financial assets and impairment and was applied
retrospectively by Itaú Unibanco Holding.
The complete consolidated financial statements under IFRS from
January to September 2019 are
available at our website:
www.itau.com.br/investor-relations.
Comparison between BRGAAP1 and
IFRS
|
|
|
|
|
|
R$ million
|
|
Balance
Sheet
|
BRGAAP
|
Adjustments
and
Reclassifications2
|
IFRS
|
BRGAAP
|
Adjustments
and
Reclassifications2
|
IFRS
|
|
Sep/30/2019
|
|
|
Dec/31/2018
|
|
|
Total
Assets
|
1,738,340
|
(124,393)
|
1,613,947
|
1,649,614
|
(96,817)
|
1,552,797
|
|
Cash, Compulsory
Deposits and Financial Assets At Amortized Cost 3 4
6
|
1,197,699
|
(19,094)
|
1,178,605
|
1,172,276
|
(12,837)
|
1,159,439
|
|
(-) Provision for
Expected Loss at Amortized Cost5
|
(33,467)
|
135
|
(33,332)
|
(33,326)
|
(47)
|
(33,373)
|
|
Financial Assets at
Fair Value Through Other Comprehensive Income
4
|
132,470
|
(73,696)
|
58,774
|
105,065
|
(55,657)
|
49,408
|
|
(-) Expected Loss at
Fair Value Through Other Comprehensive Income
5
|
(3,069)
|
2,983
|
(86)
|
(3,441)
|
3,356
|
(85)
|
|
Financial Assets at
Fair Value Through Profit or Loss 4
|
341,762
|
(31,733)
|
310,029
|
315,383
|
(28,737)
|
286,646
|
|
Tax
Assets7
|
51,420
|
(6,089)
|
45,331
|
50,242
|
(7,412)
|
42,830
|
|
Investments in
Associates and Joint Ventures, Goodwill, Fixed Assets, Intangible
Assets,
Assets Held for Sale and Other Assets
|
51,525
|
3,101
|
54,626
|
43,415
|
4,517
|
47,932
|
|
|
|
|
|
|
|
|
Total
Liabilities
|
1,599,808
|
(129,723)
|
1,470,085
|
1,505,490
|
(103,159)
|
1,402,331
|
|
Financial Assets at
Amortized Cost 3 6
|
1,259,161
|
(120,365)
|
1,138,796
|
1,220,233
|
(100,499)
|
1,119,734
|
|
Financial Assets at
Fair Value Through Profit or Loss 4
|
47,638
|
80
|
47,718
|
27,675
|
36
|
27,711
|
|
Provision for
Expected Loss (Loan Commitments and Financial Guarantees)
5
|
1,124
|
2,936
|
4,060
|
1,265
|
2,527
|
3,792
|
|
Provision for
Insurance and Pension Plan
|
212,539
|
1,297
|
213,837
|
199,995
|
1,192
|
201,187
|
|
Provisions
|
19,068
|
-
|
19,068
|
18,613
|
-
|
18,613
|
|
Tax Liabilities
7
|
12,888
|
(5,628)
|
7,260
|
10,915
|
(5,631)
|
5,284
|
|
Other
Liabilities
|
47,390
|
(8,043)
|
39,347
|
26,794
|
(784)
|
26,010
|
|
Total
Stockholders' Equity
|
138,531
|
5,331
|
143,862
|
144,124
|
6,342
|
150,466
|
|
Non-controlling
Interests
|
12,812
|
1,670
|
14,482
|
12,367
|
1,317
|
13,684
|
|
Total Controlling
Stockholders' Equity 8
|
125,719
|
3,661
|
129,380
|
131,757
|
5,025
|
136,782
|
|
1BRGAAP represents accounting
practices in force in Brazil for financial institutions, according
to regulation of the Central Bank of Brazil;
|
|
2Resulted from reclassification of
assets and liabilities and other effects from the adoption of
IFRS;
|
|
3Resulted from the elimination of
transactions between parent company and exclusive funds
(particularly PGBL and VGBL funds), which are consolidated under
IFRS;
|
|
4Refer to reclassification of
financial assets between measurement categories at fair value and
amortized cost;
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5Application of criterion for
calculation of Expected Loss as set forth by IFRS;
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6Difference in accounting,
particularly from Foreign Exchange Portfolio, which are now be
presented as net effect between Assets and Liabilities;
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7Difference in accounting,
particularly deffered taxes, which are now accounted for as net
effect between Assets and Liabilities in each one of the
consolidated companies;
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8Reconciliation of Controlling
Stockholders' Equity is presented in the following
table.
|
Below is the reconciliation of Results to Stockholders' Equity,
with the conceptual description of major adjustments.
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|
R$ million
|
|
Reconciliation
|
Stockholders
Equity
|
Result
*
|
|
Sep/30/2019
|
3rd
Q/19
|
2nd
Q/19
|
3rd
Q/18
|
jan-sep/19
|
jan-sep/18
|
|
BRGAAP -
Values Attributable to Controlling
Stockholders
|
125,719
|
5,576
|
6,815
|
6,247
|
19,101
|
18,772
|
|
(a)Expected
Loss - Loan and Lease Operations and Other Financial
Assets
|
203
|
(240)
|
(77)
|
189
|
(391)
|
(179)
|
|
(b)Adjustment
to Fair Value of Financial Assets
|
(2,113)
|
(108)
|
(6)
|
(129)
|
11
|
(261)
|
|
(c)Acquisition
of Interest in Porto Seguro Itaú Unibanco Participações
S.A.
|
440
|
(1)
|
(1)
|
(2)
|
(3)
|
(6)
|
|
(d)Criteria for Write-Off of Financial
Assets
|
1,963
|
(190)
|
(24)
|
(17)
|
(253)
|
8
|
|
(e)Financial
Lease Operations
|
254
|
(30)
|
(45)
|
(40)
|
(111)
|
(120)
|
|
(f) Other
adjustments
|
2,914
|
158
|
(135)
|
(123)
|
85
|
40
|
|
IFRS - Values
Attributable to Controlling Stockholders
|
129,380
|
5,165
|
6,527
|
6,125
|
18,439
|
18,254
|
|
IFRS -
Values Attributable to Minority Stockholders
|
14,482
|
340
|
163
|
206
|
659
|
528
|
|
IFRS - Values
Attributable to Controlling Stockholders and Minority
Stockholders
|
143,862
|
5,505
|
6,690
|
6,331
|
19,098
|
18,782
|
|
*Events net of tax
effects
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Differences
between IFRS and BRGAAP Financial Statements
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(a)In the adoption of
IFRS 9, there was a change in the calculation model of incurred
loss (IAS 39) to expected loss, considering forward-looking
information. On BRGAAP, the concept of Expected Loss is used, pursuant to BACEN
Resolution No. 2,682/99.9
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|
(b) Under IFRS,
stocks and quotas classified as permanent investments were measured
at fair value and its gains and losses were recorded directly in
Result. Additionally, there was a change in the model of
classification and measurement of financial assets due to the new
categories introduced by IFRS9.
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|
(c) Under IFRS, the
effect of accounting at fair value of the acquisition of interest
in Porto Seguro Itaú Unibanco Participações S.A. was
recognized.
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|
(d) Criterion for
write-off of financial assets on IFRS considers the recovery
expectative.
|
|
(e) Under IFRS (IAS
17) the financial lease operations are recorded as Fixed
Assets, as a contra-entry of Other Financial Liabilities.
Under BRGAAP, as from September 30th, 2015, the
consideration of these transactions are now recorded in result, in
accordance with CMN Resolution No. 3,617/08.
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(f)Other Adjustments
is mainly composed of reversal of Amortizations of Goodwill
under BRGAAP.
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|
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9More
details in the Complete Financial Statements for January to
September, 2019.
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For comparison purposes, we present on the table below the
Result and Recurring Result in IFRS and BRGAAP.
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|
R$ million
|
|
Recurring
Result
|
3rd
Q/19
|
3rd
Q/18
|
|
BRGAAP
|
IFRS
|
Variation
|
BRGAAP
|
IFRS
|
Variation
|
|
Result -
Attributable to Controlling Stockholders
|
5,576
|
5,165
|
(411)
|
6,247
|
6,125
|
(122)
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|
Exclusion of the
Non-Recurring Events
|
1,580
|
1,431
|
(149)
|
207
|
1
|
(206)
|
|
Goodwill
Amortization
|
149
|
-
|
(149)
|
206
|
-
|
(206)
|
|
Impairment
|
-
|
-
|
-
|
1
|
1
|
-
|
|
Voluntary Resignation
Plan
|
1,431
|
1,431
|
-
|
-
|
-
|
-
|
|
Recurring Result -
Attributable to Controlling Stockholders
|
7,156
|
6,596
|
(560)
|
6,454
|
6,126
|
(328)
|
The tables in this report show the figures in million.
Variations and summations, however, were calculated in units.
Alexsandro
Broedel
Group Executive Finance Director and Head
of Investor Relations
View original
content:http://www.prnewswire.com/news-releases/announcement-to-the-market-300951195.html
SOURCE Itaú Unibanco Holding S.A.