v3.25.4
Derivative financial instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Derivative Financial Instruments  
Schedule of trading derivative and used as hedge
   
  2025 2024
Assets    
Swap Differential Receivables 11,595,591 16,710,659
Premiums on Unexercised Options 6,312,487 4,960,933
Forward Contracts and Others 47,899,620 18,534,707
Total 65,807,698 40,206,299
     
Liabilities    
Swap Differential Payables 11,893,221 16,746,167
Premiums on Issued Options 5,970,844 4,455,074
Forward Contracts and Others 42,147,926 18,209,033
Total 60,011,991 39,410,274
Schedule of category
           
Breakdown by Category             
             
Trading 2025 2024
             
 

Notional

Value (1)

 Curve Value Fair Value

Notional

Value(1)

 Curve Value Fair Value
Swap 1,091,352,145 (2,221,515) (297,630) 858,277,413 (5,247,457) (35,508)
Assets 544,480,673 9,298,735 11,595,591 421,892,846 11,989,199 16,710,659
Interest Rate 424,253,131 6,039,353 6,846,017 212,769,602 8,288,494 9,155,516
Foreign Currency 118,489,312 3,257,875 4,746,233 207,863,441 3,593,516 7,449,012
Other 1,738,230 1,507 3,341 1,259,803 107,189 106,131
Liabilities 546,871,472 (11,520,250) (11,893,221) 436,384,567 (17,236,656) (16,746,167)
Interest Rates  510,279,375 (10,369,508) (10,349,447) 300,101,297 (13,645,096) (13,848,265)
Foreign Currency 35,498,945 (1,150,742) (1,353,372) 133,470,413 (3,588,425) (2,726,684)
Others 1,093,152 - (190,402) 2,812,857 (3,135) (171,218)
Options 724,241,728 (2,364,529) 341,643 538,580,487 (1,728,092) 505,859
Purchase Commitments 300,697,253 4,436,345 6,312,487 248,136,848 2,889,580 4,960,933
Foreign Currency Call Options 20,042,978 2,152,833 2,066,252 17,652,929 1,170,432 2,035,002
Foreign Currency Put Options 15,954,554 855,034 900,935 10,969,754 449,432 297,814
Other Call Options  12,400,038 887,741 3,216,466 25,078,274 769,593 2,530,004
Interbank Market 5,677,984 555,307 2,287,818 4,228,408 420,720 1,456,616
Others (2) 6,722,054 332,434 928,648 20,849,866 348,873 1,073,388
Put Option - Other 252,299,683 540,737 128,834 194,435,891 500,123 98,113
Interbank Market 204,462 113,366 74,030 553,161 111,802 80,262
Other (2) 252,095,221 427,371 54,804 193,882,730 388,321 17,851
Sale Commitments 423,544,475 (6,800,874) (5,970,844) 290,443,639 (4,617,672) (4,455,074)
Foreign Currency Call Options 11,780,868 (629,651) (430,424) 10,516,526 (597,168) (786,706)
Foreign Currency Put Options 12,130,582 (637,961) (681,040) 11,046,513 (555,932) (275,212)
Other Call Options 90,098,059 (4,452,630) (3,443,887) 57,500,051 (2,868,865) (3,203,477)
Interbank Market 25,152,891 (2,505,829) (1,845,726) 21,145,788 (2,104,995) (1,578,796)
Other (2) 64,945,168 (1,946,801) (1,598,161) 36,354,263 (763,870) (1,624,681)
Other Put Options 309,534,966 (1,080,632) (1,415,493) 211,380,549 (595,707) (189,679)
Interbank Market 2,860,119 (239,648) (507,171) 1,395,691 (155,776) (29,908)
Other (2) 306,674,847 (840,984) (908,322) 209,984,858 (439,931) (159,771)
Futures Contracts 567,709,896 - - 785,337,224 - -
Long Position 283,663,279 - - 396,239,839 - -
Exchange Coupon (DDI) 95,881,997 - - 143,814,584 - -
Interest Rates (DI1 and DIA) 160,220,757 - - 135,768,788 - -
Foreign Currency 21,182,934 - - 106,481,787 - -
Indexes (3) 3,206,380 - - 7,717,797 - -
Treasury Bonds/Notes 3,171,211 - - 2,456,883 - -

 

Short Position 284,046,617 - - 389,097,385 - -
Exchange Coupon (DDI) 95,902,371 - - 143,814,584 - -
Interest Rate (DI1 and DIA) 160,220,757 - - 138,131,331 - -
Foreign Currency 21,545,898 - - 96,976,790 - -
Index (3) 3,206,380 - - 7,717,797 - -
Treasury Bonds/Notes 3,171,211 - - 2,456,883 - -
Forward Contracts and Others 480,123,205 (37,395,965) 5,751,694 443,722,256 6,675,015 325,674
Purchase Commitments 221,363,620 5,957,072 47,899,620 226,379,907 13,065,871 18,534,707
Currencies 154,265,360 5,618,233 8,490,694 176,481,430 4,649,383 2,617,536
Other 67,098,260 338,839 39,408,926 49,898,477 8,416,488 15,917,171
Sale Commitments 258,759,585 (43,353,037) (42,147,926) 217,342,349 (6,390,856) (18,209,033)
Currencies 191,491,609 (42,844,482) (2,513,427) 177,766,056 (5,934,009) (6,151,264)
Other 67,267,976 (508,555) (39,634,499) 39,576,293 (456,847) (12,057,769)

(1) Adjusted nominal value of the contracts minal value of updated contracts.

(2) Includes index options, primarily options related to U.S. Treasury, stocks, and stock indices.

(3) Includes Bovespa and S&P indices.
Schedule of derivatives financial instrument by counterparty
         
Notional         2025
      Related Financial  
    Customers Parties Institutions (1) Total
Swap   482,221,063 543,012,725 66,118,357 1,091,352,145
Options   112,446,529 10,162,546 601,632,653 724,241,728
Futures Contracts   6,586,544 308,134 560,815,218 567,709,896
Forward Contracts and Others   101,871,220 280,719,313 97,532,672 480,123,205

(1) Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balcão (B3) and other stock and commodities exchanges.

 

Notional       2024
    Related Financial  
  Customers  Parties Institutions (1) Total
Swap 248,822,684 408,569,543 200,885,186 858,277,413
Options 72,193,642 7,707,652 458,679,193 538,580,487
Futures Contracts 13,890,950 3,628,688 767,817,586 785,337,224
Forward Contracts and Others 180,609,297 193,284,055 69,828,904 443,722,256

(1) Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balcão (B3) and other stock and commodities exchanges.
Schedule of derivatives financial instrument by maturity
       
Notional       2025
  Up to From 3 to Over   
   3 Months 12 Months 12 Months Total
Swap 215,444,602 122,788,587 753,118,956 1,091,352,145
Options 235,359,167 389,872,228 99,010,333 724,241,728
Futures Contracts 158,211,486 157,998,367 251,500,043 567,709,896
Forward Contracts and Others 270,558,427 118,706,257 90,858,521 480,123,205

 

Notional       2024
  Up to From 3 to Over   
   3 Months 12 Months 12 Months Total
Swap 118,831,333 142,493,857 596,952,223 858,277,413
Options 80,264,346 375,497,526 82,818,615 538,580,487
Futures Contracts 415,684,910 197,209,979 172,442,335 785,337,224
Forward Contracts and Others 273,869,288 104,483,252 65,369,716 443,722,256
Schedule of derivatives by market trading
     
Notional Stock Exchanges (1) Over-the-Counter Market 2025
  Total
Swap 71,829,722 1,019,522,423 1,091,352,145
Options 539,875,480 184,366,248 724,241,728
Futures Contracts 567,339,980 369,916 567,709,896
Forward Contracts and Others 20,496,769 459,626,436 480,123,205

(1) Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balcão (B3) and other stock and commodities exchanges.

 

Notional Stock Exchanges (1) Over-the-Counter Market 2024
  Total
Swap 167,924,413 690,353,000 858,277,413
Options 415,336,707 123,243,780 538,580,487
Futures Contracts 781,708,536 3,628,688 785,337,224
Forward Contracts and Others 55,754,746 387,967,510 443,722,256

(1) Includes transactions that have as counterparty B3 S.A. - Brasil, Bolsa, Balcão (B3) and other stock and commodities exchanges.
Schedule of shareholders' equity
       
    2025   2024
  Nominal Value Nominal Value Nominal Value Nominal Value
  Retained Risk Transferred Risk - Retained Risk Transferred Risk -
  Total Return Swap Rate Credit Swap Total Return Swap Rate Credit Swap
Credit Swaps - 7,950,397 4,421,208 16,153,307
Total - 7,950,397 4,421,208 16,153,307
Schedule of hedge instrument
     
            12/31/2025
            Hedged 
      Hedge Instruments     Items
  Curve   Accounting Curve   Accounting
Strategies Value Fair value Value Value Fair value Value
Swap Contracts 107,845 1,664,551 1,772,396 108,402 1,664,551 1,772,953
Loan Operations Hedge 42,513 1,166,421 1,208,934 39,902 1,166,421 1,206,323
Securities Hedge 65,332 498,130 563,462 68,500 498,130 566,630
Futures Contracts 588,237 58,383,294 58,971,531 516,518 61,963,365 62,479,883
Loan Operations Hedge 196,301 1,384,510 1,580,811 169,359 1,565,217 1,734,576
Securities Hedge 88,352 52,602,490 52,690,842 70,784 55,116,924 55,187,708
Funding Hedge 303,584 4,396,294 4,699,878 276,375 5,281,224 5,557,599

 

       
            12/31/2024
            Hedged 
      Hedge Instruments     Items
  Curve   Accounting Curve   Accounting
Strategies Value Fair value Value Value Fair value Value
Swap Contracts 30,481 222,625 253,106 10,979 200,658 211,637
Loan Operations Hedge 30,481 222,625 253,106 10,979 200,658 211,637
Future Contracts 160,951 43,416,076 43,577,027 (222,149) 38,332,070 38,109,921
Loan Operations Hedge 156,408 13,238,024 13,394,432 (54,560) 10,017,522 9,962,962
Securities Hedge (142,206) 25,344,183 25,201,977 213,204 22,504,539 22,717,743
Funding Hedge 146,749 4,833,869 4,980,618 (380,793) 5,810,009 5,429,216
(*) The Bank employs market risk hedging strategies, the targets of which are assets in its portfolio, which is why we present the liabilities side of the respective instruments. For structures that have futures as instruments, we provide the balance of the daily adjustment calculated, recorded in the off-balance sheet account.
Schedule of cash flow hedge
       
  2025 2024
Hedge Structure Effective Portion Accumulated Portion Ineffective Effective Portion Accumulated Portion Ineffective
  Cash Flow Hedge        
CDB (367,808) - 511,175 -
Total (367,808) - 511,175 -
Schedule of hedge instrument and hedge object
           
       
          12/31/2025
          Hedge Instruments Hedge Object
  Curve   Adjustment to Curve   Accounting
Strategies Value Fair value Fair value Value Fair value Value
Future Contracts (626,619) 77,325,400 76,698,781 (566,771) 76,258,560 75,691,789
Hedge of Securities (250,800) 7,115,000 6,864,200 (244,504) 6,048,160 5,803,656
Funding Hedge (375,819) 70,210,400 69,834,581 (322,267) 70,210,400 69,888,133
             
       
          12/31/2024
          Hedge Instruments Hedge Object
  Curve Accounting Adjustment to Curve Market Accounting
Strategies Value Value - liability Fair value Value Value Value
Future Contracts (5,610) 79,915,645 79,910,035 (177,822) 77,474,456 77,296,634
Credit Operations Hedge (73,277) 1,639,466 1,566,189 8,011 730,322 738,333
Hedge of Securities (40,187) 35,717,857 35,677,670 56,491 27,556,993 27,613,484
Funding Hedge 107,854 42,558,322 42,666,176 (242,324) 49,187,141 48,944,817
Schedule of composed federal public securities
   
Reference Value 2025 2024
Financial Treasury Bills - LFT 18,735,636 23,592,560
National Treasury Bills - LTN 15,971,113 6,891,750
National Treasury Notes - NTN 7,063,913 4,775,236
Total 41,770,662 35,259,546