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					2Q11 Results Presentation
                            Disclaimer
This presentation may contain references and statements representing future
expectations, plans of growth and future strategies of BI&P.

These references and statements are based on the Bank’s assumptions and
analysis and reflect the management’s beliefs, according to their experience, to
the economic environment and to predictable market conditions.

As there may be various factors out of the Bank’s control, there may be
significant differences between the real results and the expectations and
declarations herewith eventually anticipated. Those risks and uncertainties
include, but are not limited to our ability to perceive the dimension of the
Brazilian and global economic aspect, banking development, financial market
conditions, competitive, government and technological aspects that may
influence both the operations of BI&P as the market and its products.

Therefore, we recommend the reading of the documents and financial
statements available at the CVM website (www.cvm.gov.br) and at our Investor
Relations page in the internet (www.indusval.com.br/ir) and the making of your
own appraisal.


                                                                                   1
                       43-
      New Stage in our 43-year history

• 1967 – Brokerage firm foundation
• 1991 – Authorized to operate as a Bank
• 2003 – Merger with Banco Multistock
• 2004 – Sale of Consumer Credit operation
• 2006 – Opening of the first 4 branches
• 2007 – IPO and opening of 6 new branches
• 2010 – Strategic review
• 2011 – Banco Indusval & Partners
                    The New Bank
• R$ 201 million Tier I capital increase

• New Partners: Warburg Pincus & Controllers of Sertrading

• Management team strenghthening

• Acquisition of a 17.7% stake in Sertrading

• Acquisition of Serglobal Cereais

• 5-year Operating Agreement with Sertrading with right of
  first refusal on the acquisition of receivables

• Credit line from JP Morgan and the possibility of a future
  minority stake in our capital
     Well-
     Well-capitalized Bank, Structured for a
               new growth cycle
               To be an innovative bank with excellence in corporate credit and deep
               understanding of our clients’ businesses and industries they operate,
Vision         becoming also one of the leading players of the high-growth Brazilian
               corporate bond market.

               Board of Directors: well-known professionals in their areas of expertise, 4
Management     independent members.
               Executive Board: one of the best management teams in the market.

               Goals and action plans were defined in a participative way, involving more
Goals &        than 150 people from all areas, aiming at a quality leap and the
Action Plans   development of new products and services to serve as the basis for our
               growth and profitability in the medium and long run.

               Development of new products and services to expand client offer, also
Products       creating franchise value in certain productive chains, adding-up recurring
               fee income.
               Ethics, Credibility, Partnership, Excellence, Innovation, Teamwork, and
Values         Result oriented.
2Q11 Results
Credit Portfolio resumes growth
                                                                                                                   2,109
                                       2,080
                                                                                                           1,994
                                                                                                   1,940
                               1,794           1,794                                 1,763 1,769
                                                       1,736 1,728
                                                                   1,684 1,699 1,719
                       1,519

               1,329


       1,059
 960




 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11

                  Agricultural Notes (CPRs)                     Garantees              Trade Finance
Expanded Credit Portfolio
                   Expanded Credit Portfolio                                        Breakdown




                                 1,994                2,109
                1,763
                                                                                                      Loans &
    R$ milion




                                                                                                     Discounts
                                                                                                        67%

                                                               Agribusiness
                                                               Notes (CPRs)
                2Q10             1Q11                 2Q11         2%
                                                               Guarantees
                                                                and L/Cs
                                                                   3%
Expanded Credit Portfolio:
–         Loans, financings and onlendings in Real;
                                                                    Trade Finance
–         Trade Finance;                                                20%                    BNDES
                                                                                     Other   Onlendings
–         Guarantees and L/Cs issued;
                                                                                      1%         7%
–          Agricultural Notes (CPR) from March 2011 with the
          acquisition of Serglobal.

Growth of 6% in the quarter and 20% in 12
months.
Credit Portfolio
Loans, Financing and Trade Finance
           By Economic Activity                    By Type of Customer

                  Other   Individual                        Other
                  22%        7%                              4%
                                            Corporate
                                              16%
     Financial
      Interm.
        5%

        Trade
         10%
                                 Industry
                                                                         Middle
                                   56%                                   Market
                                                                          80%


      By Customer Concentration                          By Maturity

            Other              10 largest       +360
            23%                   20%           days                     up to 90
                                                30%                       days
                                                                           36%




       61 - 160                  11 - 60
         24%                      33%       181 to 360
                                               13%
                                                             91 to 180
                                                               21%
Credit Portfolio
Significant presence of Agribusiness related activities

                                     2% 2% 2%
                               2% 2%
                          3%                                 Food & Beverage
                     3%                         9%
                                                             Agribusiness
                3%                                           Civil Construction
                                                             Financial Institutions
           3%
                                                             Automotive
       3%                                                    Textile, Apparel and Leather
                                                             Transportation & Logistics
                                                             Education
      4%                                               18%   Metal Industry
                                                             Power Generation & Distribution
      4%                                                     Chemical & Pharmaceutical
                                                             Oil and Biof uel
                                                             Pulp & Paper
       5%                                                    Individuals
                                                             Financial Services
                                                             Wood & Furniture
                                                             Retail & Wholesale
                7%                                           Other Industries
                                                 16%
                                11%
       Asset Quality
       Increased Default Index within the expected
                                     Risk Category                                                                    Collaterals
 7.2% - Normal Payments             AA
                                   4.2%                                                                              Vehicles
 6.8% - NPL 60 days                                        A                                                           3%
                                                                                                        Real State                  Aval PN
                                                         31.5%                                             8%
                         D-H                                                                                                         25%
                        14.1%                                                                       Securities
                                                                                                       3%
                                                                                                                                            Other
                                                                                              Monitored
                                                                                                                                             2%
                                                                                               Pledge
                                                                                                 7%
                             C
                           22.1%                                                                      Pledge/
                                                          B                                                                             Receivables
                                                                                                       Lien
                                                        28.2%                                                                              47%
                                                                                                        5%



                           NPL(*) / Total Loans (%)                                                      Allowance for Loan Losses
(*) Total outstanding amount of contracts with any installment overdue above 60 days


                                                      6.8                                                             212.6         196.6
                                      6.1




                                                                                       R$ million
                     2.6                                                                            107.8




                    2Q10             1Q11            2Q11                                            2Q10             1Q11          2Q11


                           Provisioning Coverage = 9.8% of Loan Portfolio and 156% of NPL 90 days
             Funding
                  liquidity,
             High liquidity, Stable funding volume

                                                                                                                                 2,247   2,230

                                                                                                                         2,031
                                                                                                 1,881   1,881   1,903
                                                 1,789                   1,772           1,793
                                                                                 1,732
                                                         1,600
                                                                 1,556
                                         1,488

                                 1,233

                         1,040

             868   836
R$ million




             2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 2Q11

                                                     In Local Currency (Real)    in Foreign Currency
Funding sources diversification for cost reduction
                             Total Funding                                                           Funding Breakdown
                                                                                                             Local
                                                                                                           Onlendings
                                                                                                               7%
                                                                                              Foreign
                                                                                                                                   Time
                                                                                             Borrowings
                                                                                                                                  Deposits
                                 2,247              2,230                                       19%
                                                                                                                                    30%
               1,881
R$ million




                                                                                            Interbank
                                                                                             Deposits
                                                                                                3%

                                                                                            Demand
                                                                                            Deposits
               2Q10              1Q11               2Q11                                      3% ALC &
                                                                                                   BN(*)                DPGE(*)
                                                                                                     6%                  32%



     Funding kept stable due to cash surplus;                                       CD and DPGEs represent 62% of funding
                                                                                    from 67% in March/2011.
     Replacement of sources and broader
     depositor base to reduce cost of local                                         Foreign loans grew 18% in the quarter and
     funding;                                                                       increased share in total funding from 16% to
                                                                                    19%:
     Average deposit tenors increased by 39
                                                                                    –   Increased correspondent bank lines to finance
     days   to   571    days     to  mature                                             foreign trade;
     (DPGE, CDs, Interbank, ALCs and BNs).
                                                                                    –   Disbursement of J. P. Morgan´s credit line.

             (*) DPGE – Time Deposits bearing Special Insurance from FGC; ALC – Agribusiness Letters of Credit; BN – Bank Notes
 Free Cash
 Liquidity being adjusted with loan portfolio growth



                       1,027
                                        923
                                                             Basel index of 21.6% allows healthy
               696
                                                             and     selective     credit    portfolio
                                                             growth, adjusting the cash surplus .
  R$ million




               2Q10    1Q11            2Q11




Free Cash (Cash + Liquid Fin. Assets + Securities + Derivatives) (-) (Open Market Funds + Derivatives) =
      56% of Total Deposits
      163% of Shareholders’ Equity
             Financial Intermediation Income
             Slight increase
                                                                                         2Q11
                                                                                                   Credit
                                                          245                                       44%
                                                 225
                                                                               IFD
                                                                               5%
                       118       127
             110
R$ million




                                                                                                         FX
                                                                                                         5%
                                                                       Tradable Sec.
                                                                           46%
             2Q10     1Q11       2Q11            1H10     1H11


                                                                                        1H11

             • As expected, aging of default loans in the                                            Credit
                                                                                                      51%
               portfolio impacts        credit     operations
               revenues.
             • Increased income from tradable securities
               has equivalent impact in intermediation
                                                                        Tradable Sec.
               expenses for higher average volumes and                                               FX
                                                                            43%
               the Selic interest rate.                                                              6%




                                                                 DFI: Derivative Financial Instruments
      Financial Intermediation Expenses
      Influenced by higher average funding balances and ALL

                                                270                        2Q11
                                                                                  Borrow,
                                                                                  Assign,
                       180                                                        Onlend
                                        156                                         4%


                                  91                                                 Loan Loss
              77
R$ million




                                                        Open Market                    Allow
                                                           94%                          2%



             2Q10     1Q11       2Q11   1H10    1H11
                                                                           1H11
               Loan Loss Allowances
                                                         Loan Loss Allow
                                                               58%



              Loan Loss Allowances booked in the 1Q11
              cover the forecasted increase in NPL by
              the aging of delayed payment portfolio.
                                                               Borrow,            Open Market
                                                               Assign,               38%
                                                                Onlend
                                                                 4%
             Gross Result & Interest Margin
                                 carry-         non-
             Reflect excess cash carry-over and non-performing loans

                                                                           8.5%       8.5%
                                                                                                7.9%
                                                  68

                                       36                                                                  5.9%
R$ million




              33                                                                      7.0%
                                                                           6.8%                                      5.2%
                                                                                                6.5%


                                                                                                           4.6%
             4Q10         1Q11       2Q11        1H10       1H11
                                                                                      NIM              NIM(a)        3.8%
                                                             -25

                                                                           2Q10      3Q10       4Q10       1Q11      2Q11
                           -61




                   Financial Margin reflects the cash surplus carry-over and the impact of default on revenues from credit
                   operations.
                   The credit portfolio growth resumption, with consequent decline in surplus cash, will have a positive effect
                   on margins by increasing revenues from credit operations and reducing the surplus carry-over costs.
                   NIM(a) net interest margin adjusted by FX effects on financial assets and by deducting the balance of
                   repos from the average interest-bearing assets.
Stable Operating Expenses in the last 4 quarters
                    Recurring Operating Expenses                                               Recurring Efficiency Ratio
                                                                                       In %


                                                                                                       75.9%                74.1%
                                                          70.0                                 72.3%
                                              59.9                                     57.5%                    58.8%


                        35.1       34.9
             29.4




                                                                           S&P Model
R$ million




             4Q10       1Q11       2Q11       1H10       1H11                          4Q10    1Q11    2Q11     1H10        1H11


               Compared to the previous year, operating expenses were raised basically by:
               –    BRL appreciation on investments abroad; and
               –    administrative expenses, primarily related to IT and notary, collection, law firms and consultancy
                    expenses, not related to the reorganization project.
              Non-recurring expenses = R$ 1.2 million in 2Q11 and R$ 3.9 million in the semester, related to the
             reorganization of the company.
              Efficiency ratio reflects the lower financial intermediation result.
Profitability
Reflecting Loan Loss Allowance and conservative liquidity strategies
                             Net Profit (Loss)




                                                          • Strengthening in provisions for
                                                            Loan Loss Allowances with
 R$ million




                                           15.6
              8.3                 5.1                       expenses of R$ 103.6 million in
                                                            the semester.
              2Q10   1Q11        2Q11      1H10   1H11    • Free Cash close to R$ 1 billion.
                                                          • Non-recurring     expenses   of
                                                            approx. R$ 4 million, resulting
                                                            from the Bank’s reorganization
                                                  -49.4     to foster the growth cycle.
                     -54.5
Capital Distribution and Free Float
                                                               Individuals
                                                Corporate          3%
                                                   1%

                                                                                        Controlling
                                                                                          Group
                             Foreign                                                       32%
                            Investors
                               30%




                                                                                          Management
                                                                                              6%
                                                                                Treasury
                                   Institutional                                   1%
                                    Investors                           Families
                                       14%                                13%

        Capital Distribution on June 30. 2011
                 Class      # of Shares    Controlling Group     Management      Treasury    Free Float    %
         S   Common           27.000.000           17.215.278        2.395.619      -          7.389.103   27.4%
         h
         a
         r   Preferred        14.212.984             497.578          116.448      746.853    12.852.105   90.4%
         e
         s   SUB-TOTAL        41.212.984           17.712.856        2.512.067     746.853    20.241.208   49.1%
        R
        e    Common            9.945.649            2.282.607         961.956       -          6.701.086   -
        c
        e    Preferred        11.947.060              27.811          211.937       -         11.707.312   -
        i
        p
        t
             SUB-TOTAL        21.892.709            2.310.418        1.173.893      -         18.408.398   -
             TOTAL            63.105.693           20.023.274        3.685.960     746.853    38.649.606   -
Share Performance
IDVL4 X IBOV - 2011
       130


       120


       110


       100


       90
                                                       IBOVESPA       IDVL4

       80




                 Performance                    2Q11         1H11
                 IDVL4                           1.22%       14.84%
                 IDVL4 (adjusted to earnings)    2.81%       17.86%
                 IBOV                           -9.01%       -9.96%
                 IGC                            -6.04%       -7.08%
                 ITAG                           -5.90%       -6.98%
                 Source: Enfoque
Shareholder Remuneration
  Indusval & Partners has maintained the practice of paying quarterly Interest
                 on Equity in anticipation for the annual dividend

                                                        27.0
                                            24.5                     25.1
                                                         6.7
                                             6.4                     6.2


                                15.9                     6.6
                                             6.5                     6.3
                                6.1
                      10.2                                                       9.5
                                                         6.9
                      2.2                    6.6                     6.3
                                5.1
         R$ million




                      2.4                                                        5.3
                      2.7       2.3                      6.8
                                             6.0                     6.3
                      2.8                                                        4.2
                                2.3

                      2006      2007        2008        2009        2010         2011



         Remuneration per share
                R$ 0.3424    R$ 0.4164   R$ 0.5945   R$ 0.6370   R$ 0.6098   R$ 0.2357
Investor Relations
Contact Information




    Katia Moroni                       Banco Indusval S/A
    IRO                                Rua Boa Vista. 356 – 7º andar
                                       01014-000- São Paulo – SP
    Phone: (55 11) 3315-6923
                                       Brasil
    E-mail: kmoroni@indusval.com.br


    Maria Angela R. Valente            IR website:
    Head of IR                         www.indusval.com.br/ri
    Phone: (55 11) 3315-6821
    E-mail: mvalente@indusval.com.br

				
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