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Consolidated Statements of Cash Flows - BRL (R$)
R$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Operating activities    
Income before income taxes R$ 24,209,949 R$ 32,852,367
Adjustments to reconcile income before income tax to net cash flow from operating activities:    
Expected loss on loans and advances 26,365,671 9,358,234
Changes in the technical provisions for insurance and pension plans 38,731,599 32,600,967
Net Gains/(Losses) on financial assets at fair value through other comprehensive income (2,663,816) 1,081,393
Expenses with provisions and contingent liabilities 2,874,896 3,888,464
(Gain)/Loss due to impairment of assets (2,579,233) 255,975
Depreciation 2,530,910 2,712,720
Amortization of intangible assets 3,132,310 3,060,180
Share of profit of associates and joint ventures (1,355,926) (421,504)
(Gains)/Losses on disposal of non-current assets held for sale (228,130) (239,499)
(Gains)/Losses from disposal of property and equipment (12,649) 228,971
(Gains)/Losses on the sale of investments in associates (422,188) (15,366)
Effect of changes in exchange rates in cash and cash equivalents (892,293) (3,475,438)
(Increase)/Decrease in assets (183,105,978) (271,154,762)
Compulsory deposits with the Central Bank (14,656,082) (3,559,769)
Loans and advances to banks 8,415,276 (9,087,880)
Loans and advances to customers (163,362,846) (182,188,118)
Financial assets at fair value through profit or loss 34,661,937 (60,377,643)
Other assets (48,164,263) (15,941,352)
(Increase)/Decrease in liabilities 115,428,891 51,862,966
Deposits from banks 32,797,532 27,166,234
Deposits from customers 62,058,049 38,922,747
Financial liabilities at fair value through profit or loss (923,959) (4,432,399)
Insurance technical provisions and pension plans (8,963,117) (25,679,716)
Other provisions (5,763,542) (3,934,768)
Other liabilities 36,223,928 19,820,868
Cash generated by operations 22,014,013 (137,404,332)
Interest received on financial assets at FVTPL and amortizated costs 101,166,625 72,045,757
Interest paid (72,121,352) (29,926,361)
Income tax and social contribution paid (9,292,937) (6,707,736)
Net cash provided by/(used in) operating activities 41,766,349 (101,992,672)
Investing activities    
(Acquisitions) of subsidiaries, net of cash and cash equivalents (623,966) (183,172)
(Acquisition) of financial assets at fair value through other comprehensive income (164,290,603) (162,115,499)
Disposal of financial assets at fair value through other comprehensive income 105,001,290 127,129,772
Maturity of financial assets at amortized cost 69,244,651 47,481,373
(Acquisition) of financial assets at amortized cost (70,238,580) (46,679,357)
Disposal of non-current assets held for sale 442,888 608,200
(Acquisitions) of investments in associates (293,793)
Sale of investments in associates 61,970 62,237
Dividends and interest on equity received 720,069 763,698
(Acquisition) of property and equipment (2,440,639) (1,156,867)
Proceeds from sale of property and equipment 596,414 528,602
(Acquisition) of intangible assets (6,971,601) (3,253,248)
Interest received on investing financial assets 50,719,425 17,799,378
Net cash provided by/(used in) investing activities (17,778,682) (19,308,676)
Financing activities    
Funds from securities issued 101,692,599 105,221,591
Payments on securities issued (55,588,276) (84,821,391)
Funds from subordinated debt issued 9,796,000 9,130,200
Payments on subordinated debts (13,431,393) (9,516,156)
Lease payments (1,916,000) (1,685,513)
Non-controlling shareholders (209,470) (253,768)
Interest paid on financing liabilities (14,544,532) (9,102,724)
Interest on Equity/Dividends Paid (3,656,763) (9,914,297)
Acquisition of treasury shares (224,377) (666,702)
Net cash provided by/(used in) financing activities 21,917,788 (1,608,760)
(Decrease)/Increase in cash and cash equivalents 45,905,455 (122,910,108)
Cash and cash equivalents    
At the beginning of the period 71,386,319 190,820,989
Effect of changes in exchange rates in cash and cash equivalents 892,293 3,475,438
At period end R$ 118,184,067 R$ 71,386,319