Banco Daycoval Announces 2Q08 Results

SAO PAULO, Brazil, July 31 /PRNewswire-FirstCall/ -- Banco Daycoval S.A.
("Daycoval" or "Bank") (Bovespa: DAYC4), announced yesterday its results for
the second quarter of 2008 (2Q08).
HIGHLIGHTS:
-- The loan portfolio reached R$4.5 billion, for growth of 15.8% compared
with 1Q08 (and 105.8% compared with 2Q07). Middle market was the
fastest-growing segment, recording an increase of 14.2% in the quarter while
accounting for roughly the same share of the total portfolio;
-- In June Daycoval received the formal approval to be an onlending agent
for BNDES, the national development bank. This new product is part of the
Bank's diversification strategy and creates cross-selling opportunities in the
middle market segment;
-- To match credit portfolio growth, funding rose 21.9% to R$3.9 in the
quarter. In addition to focusing on time deposits, up 19.6% compared with
1Q08, the Bank successfully issued two tranches of Eurobonds in the
international market, raising a total of US$225 million during June and July;
-- Net income, impacted by non-recurring effects, totaled R$62.5 million
in 2Q08 (R$132.6 million in 1H08;
-- During 2Q08 Daycoval opened two new branches (in Campo Grande, Mato
Grosso do Sul State, and the second in Campinas, Sao Paulo State), mainly for
the middle market segment. In addition, 17 Daycred Stores focusing on loans
to individuals were opened as part of an exclusive expansion pilot project;
-- Upgrades from rating agencies and recognition as the Best Middle Market
Bank by FGV/Conjuntura Economica reflected the solidity and credibility
achieved by Daycoval in its 40 years of history.
About Banco Daycoval
Banco Daycoval S.A. is a mid-size financial institution specialized in the
middle market segment and with a relevant activity in the Retail business,
through payroll and auto loans. Headquartered in Sao Paulo, it had 27
branches in 22 cities of 16 states across Brazil, as well as the Federal
District, at 2Q08. Daycoval offers a complete line of products and services
for corporate clients and for individuals it mainly offers specialized
products such as payroll loans and auto loans under the Daycred brand. In
June 2008 it had a credit portfolio of R$4.5 billion and total assets of R$8.0
billion.
To access the complete version of the release, please access our website:
www.daycoval.com.br/ir
SOURCE Banco Daycoval S.A.

Investor Relations, +55-11-3138-1025, or +55-11-3138-1024, ri@daycoval.com.br