SAO PAULO, Brazil, Feb. 14 /PRNewswire-FirstCall/ -- Unibanco (NYSE:UBB) (BOVESPA: UBBR11) announces consolidated financial results for 2007 Unibanco's net income, excluding non-recurring events, reached R$2,600 million in 2007 and R$715 million in 4Q07, up 17.6% and 24.1% when compared to 2006 and 4Q06, respectively. Including non-recurring events, net income was R$ 3,448 million in 2007 and R$ 827 million in 4Q07.
Stockholders' equity was R$11,837 million on December 31, 2007, up 19.3% from December 2006. Annualized return on average equity (ROAE), before non- recurring events, reached 26.8% in 4Q07 and 24.5% in 2007. Considering non- recurring events, ROAE was 31.7% in the year and 31.4% in the quarter.
Unibanco's total assets reached R$149,597 million, up 44.2% when compared to December 31, 2006. It is worth mentioning the R$16.1 billion increase in total loans.
The loan portfolio reached R$61,435 million in December 2007, up 9.9% in the quarter and 35.4% in the year. Retail portfolio increased 13.2% in 4Q07, with highlight for growth in auto loans, up 22.6%, credit card loans, 21.0%, and SMEs loans, 16.8%. Wholesale portfolio grew 4.7% in the quarter and 16.4% in the last 12 months, despite the US dollar depreciation of 3.7% and 17.2% in the respective periods.
The increase in lower risk portfolios, along with Unibanco's risk management policy, has provided a continuous asset quality improvement, reflected on the 11.0% reduction in provision for loan losses, 2007 vis-a-vis 2006, and on the non-performing loans ratio reduction, to 3.9% of total portfolio in December 2007 from 5.4% in December 2006.
Unibanco's personnel and administrative expenses were practically flat in 4Q07 vis-a-vis 4Q06. For companies under Unibanco's direct management, the variation was only 2.0% when compared to 2006, due to efficiency gains and budgetary discipline.
Unibanco remains satisfied and confident with the ongoing results and the continuous improvement of its performance.
The earnings conference call will take place tomorrow, February 15. For additional information and to download the complete documents, please access Unibanco's Investor Relations website.
Investor Relations http://www.ir.unibanco.com/ DATASOURCE: UNIBANCO - Uniao dos Bancos Brasileiros S.A.
CONTACT: Melyssa Almeida, Unibanco, +011-55-11-3584-1861, Web site: http://www.ir.unibanco.com/
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