Banco Pine Releases Its 1Q09 Results

SAO PAULO, May 11 /PRNewswire-FirstCall/ -- Banco Pine S.A.
(Bovespa: PINE4) today announces its 1Q09 Results.
Banco PINE is specialized in and focuses mainly on corporate loans,
offering its clients a complete range of loan products in both local and
foreign currency. It also offers financial and strategic advisory services,
treasury products, investment services, special credit lines and onlending
operations. Its strategy is to understand thoroughly the needs, as well as the
strategies, of companies in order to provide them with customized services
efficiently and quickly.
Highlights of the Period:
-- Net income in 1Q09 reached R$ 20,070 thousand. The annualized Return on
Average Equity (ROAE) was 10.1% in the period.
-- Recurring administrative expenses declined by 17.5% and 31.1% in 1Q09
over 4Q08 and 1Q08, respectively, totaling R$25,271 thousand. This reduction
is the result of strict cost control and budget discipline.
-- The total loan portfolio, including off-book loans and guarantees,
reached R$3.9 billion on March 31, 2009, a 9.2% decrease in the quarter.
-- The corporate loan portfolio, Banco PINE's core business, ended March
at R$2.8 billion, contracting 7.4% in 1Q09. Trade Finance portfolio presented
strong growth in the quarter of 27.3%, despite the slight appreciation of the
Brazilian real in the period.
-- The quality of the credit portfolio is attested by the fact that, at
the end of March 2009, 96.8% of its composition was rated between AA and C, in
accordance with Brazilian Central Bank Resolution 2,682. At the same date, the
coverage of the total portfolio reached 2.7%.
-- On March 31, 2009, the cash position remained comfortable, representing
51% of time deposits.
-- The Bank's Capital Adequacy Ratio stood at 18.6%, which demonstrates a
comfortable capital position.
The full earnings release for 1Q09 is available on Banco Pine's IR website
at www.bancopine.com.br/ir
Banco Pine will hold Conference Calls on 1Q09 Results on Tuesday, May 12,
at 11:00 a.m. (ET) in English and at 9:00 a.m. (ET) in Portuguese.
For further information, please contact Banco Pine's IR Area:
Phone: (+55 11) 3372-5553
ir@bancopine.com.br
SOURCE Banco Pine S.A.

Banco Pine Investor Relations, +011-55-11-3372-5553, ir@bancopine.com.br