SAO PAULO, Brazil, Nov. 8 /PRNewswire-FirstCall/ -- Unibanco (NYSE:UBB) (BOVESPA: UBBR11).
Unibanco's net income reached R$2,621 million in 9M07 and R$1,199 million in 3Q07, up 123.3% and 42.6% when compared to 9M06 and 2Q07, respectively. Excluding the result from non-recurring events in 3Q07, net income was R$667 million in the quarter, a 17.8% growth from 3Q06.
Stockholders' equity was R$11,593 million on September 30, 2007, up 20.6% from September 30, 2006. Annualized return on average equity (ROAE) reached 50.2% in 3Q07 and 33.7% in 9M07. Excluding the result from non-recurring events, ROAE was 26.5% in 3Q07 and 24.5% in 9M07.
Unibanco's total assets reached R$133,925 million, up 31.4% when compared to September 30, 2006. It is worth mentioning the R$12.6 billion increase in total loans.
The loan portfolio reached R$55,902 million in September 2007, up 8.2% in the quarter and 29.0% in the past 12 months. Retail portfolio increased 12.1% in 3Q07, with highlight for growth in payroll loans, up 31.2%, car loans, 24.6%, and SMEs, 12.1%. Wholesale portfolio grew 2.7% in the quarter and 13.7% in the last 12 months, despite the US dollar depreciation of 4.5% and 15.4% in the respective periods.
The Unibanco's risk management policy, along with an increase in lower risk portfolios, has provided a continuous asset quality improvement, reflected on the 13.8% reduction in provision for loan losses, 9M07 vis-a-vis 9M06, and on the D to H portfolio ratio reduction, to 4.9% in September 2007 from 6.7% in September 2006.
Unibanco's total personnel and administrative expenses decreased 1.4% in 3Q07 vis-a-vis 3Q06 and increased 2.6% in 9M07 from 9M06. This is largely 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, November 9th. For additional information and to download the complete documents, please access Unibanco's Investor Relations website. DATASOURCE: Unibanco CONTACT: Investor Relations of Unibanco, +55-11-3584-1980 Web site: http://www.ir.unibanco.com/ http://www.unibanco.com.br/
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