Tax assets and liabilities (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Notes and other explanatory information [abstract] |
|
| Schedule of total charge for the period can be reconciled to accounting profit |
| Schedule of total charge for the period can be reconciled to accounting profit |
|
|
|
| Thousand of Reais |
2025 |
2024 |
2023 |
| |
|
|
|
| Operating Profit Before Tax |
16,728,994 |
19,190,228 |
11,921,651 |
| Tax Rate (25% income tax and 20% social contribution tax) (3) |
(7,528,047) |
(8,635,601) |
(5,364,743) |
| PIS and COFINS (net of income and social contribution taxes) (1) |
(4,605,498) |
(3,258,281) |
(3,789,866) |
| Non-taxable/Non-deductible: |
|
|
|
| Equity method |
206,241 |
140,870 |
108,380 |
| Non-Deductible Expenses Net from Non-Taxable Income (2) |
1,911,762 |
1,345,411 |
1,016,111 |
| Adjustments: |
|
|
|
| Recognition (Reversal) of Income/Social Contribution Taxes on Temporary Differences |
193,371 |
(224,038) |
127,166 |
| Interest on Equity |
3,376,308 |
2,589,128 |
2,660,040 |
| Effect of CSLL (Social Contribution on Net Profit) Rate Difference (3) |
970,695 |
1,441,329 |
684,133 |
| Other adjustments |
1,711,297 |
824,718 |
2,135,940 |
| Income taxes |
(3,763,871) |
(5,776,465) |
(2,422,839) |
| Comprising: |
|
|
|
| Current taxes |
(8,068,996) |
(6,193,804) |
(7,962,995) |
| Deferred taxes |
4,305,125 |
417,339 |
5,540,156 |
| Taxes paid during the fiscal year |
(6,509,969) |
(5,423,514) |
(5,892,511) |
| (1) |
PIS and COFINS are considered as components of the profit base (net base of certain income and expenses); therefore, in accordance with
IAS 12, they are recorded as income taxes. |
| (2) |
It mainly includes the tax effect on income from updates to judicial deposits and other income and expenses that are permanent differences. |
| (3) |
In the Consolidated Financial Statements, we account for the difference in CSLL (Social Contribution on Net Profit) tax rates of 9% (non-financial
companies), 15% (financial companies), and 20% (banks). |
|
| Schedule of foreign exchange hedge |
| Schedule of foreign exchange hedge |
|
|
|
| Thousand of Reais |
2025 |
2024 |
2023 |
| Foreign exchange fluctuations (net) |
|
|
|
| Gains (losses) arising from exchange rate fluctuations on the Bank’s investments in the Cayman and Luxembourg Branches |
(7,474,761) |
13,627,778 |
(3,281,452) |
| Gains (losses) on financial assets and liabilities |
|
|
|
| Income generated from the use of derivative contracts as foreign exchange hedge |
7,838,473 |
(14,292,394) |
3,444,617 |
| Income Taxes |
|
|
|
| Tax effect of derivative contracts used as hedge - PIS/COFINS |
(363,712) |
664,616 |
(163,165) |
|
| Schedule of effective tax rate |
| Schedule of effective tax rate |
|
|
|
| Thousand of Reais |
2025 |
2024 |
2023 |
| Operating Income Before Tax |
16,728,994 |
19,190,228 |
11,921,651 |
| Income Tax |
(3,763,871) |
(5,776,465) |
(2,422,839) |
| Effective tax rate |
22.50% |
30.10% |
20.32% |
|
| Schedule of bank recorded amounts in equity |
| Schedule of bank recorded amounts in equity |
|
|
|
| Thousand of Reais |
2025 |
2024 |
2023 |
| Tax credits recognized in equity |
315,477,464 |
339,389,357 |
139,356,609 |
| Measurement of securities at fair value through other comprehensive income |
308,792,800 |
333,401,042 |
136,550,936 |
| Measurement of cash flow hedge |
3,032,990 |
2,607,676 |
223,487 |
| Measurement of investment hedge |
1,421,361 |
562,353 |
562,353 |
| Measurement of defined benefit plan |
2,230,313 |
2,818,286 |
2,019,833 |
| Tax expenses recognized in equity |
(320,585,520) |
(346,808,871) |
(140,799,732) |
| Measurement of securities at fair value through other comprehensive income |
(309,559,753) |
(335,837,710) |
(133,417,362) |
| Measurement of cash flow hedge |
(3,361,605) |
(2,628,353) |
(430,444) |
| Measurement of investment hedge |
(1,421,361) |
(1,421,361) |
(1,421,361) |
| Measurement of defined benefit plan |
(6,242,801) |
(6,921,447) |
(5,530,565) |
| Total |
(5,108,056) |
(7,419,514) |
(1,443,123) |
|
| Schedule of balances of tax assets and liabilities |
| Schedule of balances of tax assets and liabilities |
|
|
|
|
|
|
| Thousand of Reais |
|
|
|
|
2025 |
2024 |
| |
|
|
|
|
|
|
| Deferred Tax Assets |
|
|
|
|
50,854,830 |
48,223,877 |
| Comprising: |
|
|
|
|
|
|
| Temporary differences (1) |
|
|
|
|
45,562,986 |
42,737,528 |
| Tax loss |
|
|
|
|
5,291,844 |
5,486,349 |
| Total deferred tax assets |
|
|
|
|
50,854,830 |
48,223,877 |
| |
|
|
|
|
|
|
| Deferred tax liabilities |
|
|
|
|
4,589,099 |
5,689,440 |
| Comprising: |
|
|
|
|
|
|
| Excess depreciation of leased assets |
|
|
|
414,762 |
394,257 |
| Fair value adjustment of trading securities and derivatives |
|
|
|
|
4,174,337 |
5,295,183 |
| Total deferred tax liabilities |
|
|
|
|
4,589,099 |
5,689,440 |
| (1) |
Temporary differences primarily related to impairment losses on loans and receivables, provisions for judicial and administrative
proceedings, and the effect of the fair value on financial instruments. |
|
| Schedule of changes in the balances of tax assets and liabilities |
| Schedule of changes in the balances of tax assets and liabilities |
|
|
|
|
|
| Thousand of Reais |
Balances at December 31, 2024 |
Adjustment to
Income |
Fair value adjustments (1) |
Other (2) |
Balance on December 31, 2025 |
| |
|
|
|
|
|
| Deferred Tax Assets |
48,223,877 |
3,110,827 |
(573,469) |
93,595 |
50,854,830 |
| Temporary differences |
42,737,528 |
3,305,332 |
(573,469) |
93,595 |
45,562,986 |
| Tax loss |
5,486,349 |
(194,505) |
- |
- |
5,291,844 |
| Deferred Tax Liabilities: |
5,689,440 |
(1,194,298) |
247,771 |
(153,814) |
4,589,099 |
| Temporary differences |
5,689,440 |
(1,194,298) |
247,771 |
(153,814) |
4,589,099 |
| Total |
42,534,437 |
4,305,125 |
(821,240) |
247,409 |
46,265,731 |
| |
|
|
|
|
|
| Thousand of Reais |
Balances at December 31, 2023 |
Adjustment to
Income |
Adjustments to fair value (1) |
Other (2) |
Balance on December 31, 2024 |
| |
|
|
|
|
|
| Deferred Tax Assets |
43,445,704 |
3,124,515 |
2,460,496 |
(806,838) |
48,223,877 |
| Temporary differences |
37,877,300 |
3,206,570 |
2,460,496 |
(806,838) |
42,737,528 |
| Tax loss |
5,561,066 |
(74,717) |
- |
- |
5,486,349 |
| CSLL 18% |
7,338 |
(7,338) |
- |
- |
- |
| Deferred Tax Liabilities: |
3,699,432 |
2,238,539 |
597,555 |
(846,086) |
5,689,440 |
| Temporary differences |
3,699,432 |
2,238,539 |
597,555 |
(846,086) |
5,689,440 |
| Total |
39,746,272 |
885,976 |
1,862,941 |
39,248 |
42,534,437 |
(1) Refers to the tax recognized in equity.
(2) In 2025, it refers mainly to the net of deferred taxes
in the amount of R$247,409 (2024 – R$39,248 and 2023 – R$63,753), which have the same counterparty and realization period.
|
| Schedule of expected realization of deferred tax assets |
| Schedule of expected realization of deferred tax assets |
|
|
|
|
|
| |
Deferred Tax Assets |
Deferred Tax Liabilities |
| Year |
Temporary differences |
Tax losses |
Total |
Temporary differences |
Total |
| 2026 |
9,572,148 |
36,844 |
9,608,992 |
1,092,810 |
1,092,810 |
| 2027 |
6,937,859 |
1,090,696 |
8,028,555 |
1,095,782 |
1,095,782 |
| 2028 |
6,129,936 |
2,304,325 |
8,434,261 |
870,727 |
870,727 |
| 2029 |
5,162,834 |
1,854,527 |
7,017,361 |
850,912 |
850,912 |
| 2030 |
4,908,139 |
3,730 |
4,911,869 |
151,612 |
151,612 |
| 2031 to 2035 |
12,852,070 |
1,722 |
12,853,792 |
222,694 |
222,694 |
| After 2036 |
- |
- |
- |
304,562 |
304,562 |
| Total |
45,562,986 |
5,291,844 |
50,854,830 |
4,589,099 |
4,589,099 |
|