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Mission and Strategy

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Mission

The rapid and effective provision of financial and insurance-related solutions, products andservices, primarily through banking inclusion and the promotion of social mobility, contributing to sustainable development and building lasting relationships that generate value forshareholders and for society as a whole.

Vision

To be recognized as the best and most efficient financial institution in the country and for active involvement in promoting banking inclusion and sustainable development.

Strategy

In 2016, the economic conjuncture was challenging both internally and externally, with a prolonged deceleration that had a negative impact on Brazilian industry. Once again there was a retraction in Gross Domestic Product (GDP), which deepened the internal crisis and caused further deterioration in the business environment, resulting in lower productivity, a retraction in credit and higher unemployment and delinquency rates.

In 2017, however, there are signs of a possible recovery in levels of activity, mainly in important sectors such as industry and agriculture. It is expected that the basic Selic interest rate will continue to drop, with inflation remaining around the target of 4.5%. The country is seeking to recuperate the confidence of overseas investors and its dynamism, as well as improving social and economic efficiency. This movement should be favored by the promotion of a fiscal adjustment, with the approval of the proposal of the constitutional amendment to establish a ceiling on spending and the introduction by the government of important discussions in the National Congress, such as social security reform, alterations to labor laws, privatizations and concessions.

With our sights on the future and attentive to the opportunities emerging with the recovery of the economy, in the medium and long term we have consolidated our business structures. We continue to be one of the major investors in technology in the country, driving operational efficiency with a view to improving services for our more than 73 million account holders, as well as clients who do not have accounts.

Segmented by profile, clients benefit from the large scale distribution of products and services that are adapted to the needs and features of regional economies. In order to grow and consolidate our activities, we have adopted diverse measures to promote the gradual integration of the physical and digital environments, driving growing convergence among our clients. We serve four generations of clients and seek to provide solutions in accordance with the expectations and phase of life of each one.

As a complement to this local focus and to provide support for Brazilian companies and their needs overseas, as well as for overseas investors and companies interested in Brazil, we operate internationally, maintaining a presence in strategic markets such as New York, London, Hong Kong, among others.

Our sources of revenue are balanced and insurance plays an important role in mitigating volatility in results, as do services, which are gaining importance due to their diversity. Credit activity should resume growth in the coming years as the economy recovers.

It was this vision that drove our acquisition of HSBC Brasil in 2016, consolidating our share in the Brazilian market. In addition to the commercial gains generated by business with these new clients, the operation reinforces our human capital and will result in gains in synergy in operational processes, reduced operational expenses and funding costs and a higher return once the adjustments have been undertaken.