(Convenience Translation into English from the Original Previously Issued in Portuguese)
Banco do Estado do Rio Grande do Sul S.A.
Consolidated Interim Financial Statements in IFRS for the Three -month
Period Ended March 31, 2023 and Independent Auditor's Report
Deloitte Touche Tohmatsu Auditores Independentes Ltda.
Deloitte Touche Tohmatsu Av. Carlos Gomes, 222 - 2º andar - Boa Vista -
90480-000 - Porto Alegre - RS Brasil
Tel.: + 55 (51) 3327-8800
Fax: + 55 (51) 3328-3031
www.deloitte.com.br
(Convenience Translation into English from the Original Previously Issued in Portuguese)
REPORT ON REVIEW OF CONSOLIDATED INTERIM FINANCIAL STATEMENTS
To the Board of Directors, Management and Shareholders of
Banco do Estado do Rio Grande do Sul S.A.
Introduction
We have reviewed the accompanying consolidated interim financial statements of Banco do Estado do Rio Grande do Sul S.A. ("Bank"), which comprises the balance sheet as at March 31, 2023, and the related statements of income, of comprehensive income, of changes in equity and of cash flows for the three- month period then ended, including the explanatory notes.
Management is responsible for the preparation and fair presentation of these consolidated interim financial statements in accordance with IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB. Our responsibility is to express a conclusion on these consolidated interim financial statements based on our review.
Scope of review
We conducted our review in accordance with Brazilian and International Standards on Review of Interim Financial Statements (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion on the consolidated interim financial statements
Based on our review, nothing has come to our attention that causes us to believe that the accompanying consolidated interim financial statements referred to above are not prepared, in all material respects, in accordance with IAS 34 - Interim Financial Reporting, issued by the IASB.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited ("DTTL"), its global network of member firms, and their related entities (collectively, the "Deloitte organization"). DTTL (also referred to as "Deloitte Global") and each of its member firms and related entities are legally separate and independent entities, which cannot obligate or bind each other in respect of third parties. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more.
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© 2022. For information, contact Deloitte Global.
Other matters
Consolidated statements of value added
The consolidated interim financial statements referred to above include the consolidated statements of value added - DVA for the three-month period ended March 31, 2023, prepared under the responsibility of the Bank's Management, and disclosed as supplemental information for purposes of IAS 34. These statements were subject to review procedures performed together with the review of the consolidated interim financial statements to reach a conclusion on whether they are reconciled with the consolidated interim financial statements and accounting records, as applicable, and whether their form and content are consistent with the criteria set out in technical pronouncement CPC 09 - Statement of Value Added. Based on our review, nothing has come to our attention that causes us to believe that these statements of value added are not fairly presented, in all material respects, in accordance with the criteria set out in technical pronouncement CPC 09 and consistently with the accompanying consolidated interim financial statements taken as a whole.
The accompanying consolidated interim financial statements have been translated into English for the convenience of readers outside Brazil.
Porto Alegre, May 9, 2023
DELOITTE TOUCHE TOHMATSU | Carlos Claro |
Auditores Independentes Ltda. | Engagement Partner |
© 2023. For information, contact Deloitte Global. | 2 |
FINANCIAL STATEMENTS
UNDER IFRS
M a r c h 2023
FINANCIAL STATEMENTS | 20 |
CONSOLIDATED INCOME STATEMENT | 22 |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | 23 |
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY | 24 |
CONSOLIDATED STATEMENT OF CASH FLOWS | 25 |
STATEMENT OF ADDED VALUE | 26 |
NOTES TO THE FINANCIAL STATEMENTS | 27 |
NOTE 01 - GENERAL INFORMATION | 27 |
NOTE 02 - PRESENTATION ON CONSOLIDATED INTERIM FINANCIAL STATEMENTS | 27 |
NOTE 03 - SUMMARY OF SIGNIFICANT ACCOUNTING PRACTICES | 29 |
NOTE 04 - ESTIMATES AND CRITICAL ACCOUNTING JUDGMENTS | 41 |
NOTE 05 - CAPITAL MANAGEMENT AND CORPORATE RISK | 42 |
NOTE 06 - SEGMENT INFORMATION | 63 |
NOTE 07 - CASH AND CASH EQUIVALENTS | 64 |
NOTE 08 - COMPULSORY DEPOSITS IN CENTRAL BANK OF BRAZIL | 64 |
NOTE 09 - INTERBANK INVESTMENTS | 64 |
NOTE 10 - FINANCIAL ASSETS AT AMORTIZATION COST - SECURITIES | 65 |
NOTE 11 - CREDIT OPERATIONS AND FINANCIAL LEASING | 65 |
NOTE 12 - FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - SECURITIES | 68 |
NOTE 13 - FINANCIAL ASSETS AT FAIR VALUE TROUGH INCOME - SECURITIES | 68 |
NOTE 14 - DERIVATIVE FINANCIAL INSTRUMENTS | 69 |
NOTE 15 - OTHER FINANCIAL ASSETS | 71 |
NOTE 16 - OTHER ASSETS | 71 |
NOTE 17 - INVESTMENTS IN ASSOCIATES | 71 |
NOTE 18 - PROPERTY, PLANT AND EQUIPMENT | 72 |
NOTE 19 - INTANGIBLE ASSETS | 73 |
NOTE 20 - FINANCIAL LIABILITIES AT AMORTIZED COST | 74 |
NOTE 21 - FINANCIAL LIABILITIES AT FAIR VALUE THROUGH INCOME | 74 |
NOTE 22 - PROVISIONS, CONTINGENT ASSETS AND LIABILITIES | 74 |
NOTE 23 - OTHER FINANCIAL LIABILITIES | 77 |
NOTE 24 - DEFERRED TAXES | 77 |
NOTE 25 - OTHER LIABILITIES | 78 |
NOTE 26 - EQUITY | 78 |
NOTE 27 - NET INTEREST INCOME AND SIMILAR | 80 |
NOTE 28 - NET GAINS (LOSSES) WITH ASSETS AND LIABILITIES AT FAIR VALUE | 80 |
NOTE 29 - REVENUES FROM FEES AND SERVICES | 80 |
NOTE 30 - PERSONNEL EXPENSES | 81 |
NOTE 31 - OTHER ADMINISTRATIVE EXPENSES | 81 |
NOTE 32 - OTHER OPERATING INCOME | 81 |
NOTE 33 - OTHER OPERATING EXPENSES | 81 |
NOTE 34 - INCOME TAX AND SOCIAL CONTRIBUTION | 82 |
NOTE 35 - EARNINGS PER SHARE | 82 |
NOTE 36 - POST-EMPLOYMENTLONG-TERM BENEFIT OBLIGATIONS TO EMPLOYEES | 82 |
NOTE 37 - COMMITMENTS AND OTHER MATERIAL INFORMATION | 95 |
NOTE 38 - RELATED-PARTY TRANSACTIONS | 95 |
NOTE 39 - OTHER INFORMATION | 97 |
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BANRISUL - Banco do Estado do Rio Grande do Sul SA published this content on 11 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 May 2023 22:10:53 UTC.