Annual
Report 2013

Today, our twenty-year operations, which brought us great results, are the epitome of a company whose business is exclusively devoted to retirement. Throughout all of this years, we strived to grow sustainably, a key principle for a company whose mission statement is to enable the life plans of people, and we are going to stay that way, with a focus on value creation for all our stakeholders.

In 2013, despite a period beset with global economic changes and volatility in investment funds, we achieved great results. As the leader in net deposits since 2008 – which is revenue less withdrawals to ensure returns to scale –, we have achieved a record market share in this regard (54.8%), a testament to our business expertise and our swift responsiveness to an adverse state of affairs.

We also took the lead in revenue, with 23.2 billion throughout the fiscal year, a 27% gain over 2012. Our assets under management added up to BRL 84.6 billion, a 25.1% growth in a portfolio with over 1.64 million clients. During this period, our net income worked out at BRL 582.5 million, a 20.3% gain over the previous year.

FY 2013 was also full of festivities celebrating our 20-year operations as well as major breakthroughs. In February and October, our product portfolio for individuals and businesses (very small and small businesses), respectively, was revamped.

We established a new MO and redefined our business decision-making processes by reviewing our strategy map and value network. In addition, in order to consolidate our culture of commitment, innovation, and high performance, we redefined our corporate competencies, that is, the behavioral benchmark for the annual performance review of our employees.

Also during FY 2013, we reinforced our commitment to the United Nations Global Compact, which we joined in 2008. The principles regarding human rights, industrial relations, the environment, and the fight against corruption continue to permeate our practices with all our stakeholders and improve our efforts toward sustainable development. 

In the next few years, we expect the retirement industry to grow strongly because Brazilians are increasingly aware of the need to save for the long term and ensure their financial independence. Thus, the retirement industry will also gain prominence as an institutional investor in Brazil, since its assets – which are long-term – will be able to subsidize investments in infrastructure even more. In this scenario, with the shareholders we have – Banco do Brasil and the Principal Financial Group, whose reputation is very good –, we expect sustained growth above the market average. To this end, we will keep our focus on improving and breaking new ground in financial solutions to meet the needs of all client profiles and help our clients achieve their life plans.

The Executive Board