Banco do Brasil S.A.

BBAS3

BRBBASACNOR3

Banks

Delayed Sao Paulo Other stock markets 19:48:40 11/06/2026 +04			5-day change	1st Jan Change
19.00 ^BRL	-0.58%		-0.89%	-13.32%

05-21	BB Ventures II announced that it has received BRL 300 million in funding from Banco do Brasil S.A.	CI
05-21	Banco do Brasil approves payment of 340.7 million reais in interest on equity	RE

Banco do Brasil S A : Financial Statements PDF 1Q26

Published on 05/14/2026 at 01:59 am +04

Publicnow

BANCO DO BRASIL S.A.

-0.58%

Financial Statements March 31, 2026

Contents

Statements of financial position 3

Statements of income 4

Statements of comprehensive income 5

Statements of changes in shareholders' equity 6

Statements of cash flows 8

Statements of value added 9

- The Bank and its operations 10
- Presentation of financial statements 11
- Description of significant accounting policies 16
- Significant Judgments and accounting estimates 28
- Acquisitions, disposals and corporate restructuring 31
- Information by segment 32
- Cash and cash equivalents 36
- Deposits with Central Bank of Brasil 37
- Interbank investments 38
- Securities 40
- Derivative financial instruments 47
- Loan portfolio 54
- Other assets 70
- Investments 71
- Property for use 76
- Intangibles 77
- Customers resources 79
- Financial institutions resources 82
- Resources from issuance of debt securities 85
- Other liabilities 87
- Provisions and contingent liabilities 88
- Taxes 91
- Shareholder's equity 94
- Service fee income 100
- Administrative expenses 101
- Other income/expenses 102
- Related party transactions 103
- Employee benefits 109
- Fair value of financial instruments 121
- Risk and capital management 126
- Financial guarantees provided and other off-balance sheet commitments 141
- Transfer of financial assets 143
- Recurring and non-recurring net income 144
- Current and non-current assets and liabilities 145
- Other information 147
- Subsequent events 150

Independent Auditor's report 151

Declaration of the Executive Board members about the Financial Statements 153

Declaration of the Executive Board members about the Report of Independent Auditors 154

Members of Management 155

In thousands of Reais, unless otherwise stated

‌Statements of financial position

	Note	Banco do Brasil		Consolidated
	Note	March 31, 2026	December 31, 2025	March 31, 2026	December 31, 2025
Assets
Cash and due from banks	7	21,464,374	17,192,762	23,946,939	19,737,849
Financial assets at fair value through profit or loss		10,494,582	8,297,752	15,801,373	12,277,786
Securities	10.b	4,158,990	3,669,173	9,440,412	7,620,302
Derivative financial instruments	11	6,335,592	4,628,579	6,360,961	4,657,484
Financial assets at fair value through other comprehensive income		651,714,300	631,884,974	660,739,749	640,022,346
Securities	10.c	651,714,300	631,884,974	660,739,749	640,022,346
Financial assets at amortized cost		1,763,899,432	1,655,274,123	1,807,408,860	1,692,398,143
Deposits with Central Bank of Brasil	8	118,584,591	120,016,133	118,584,591	120,016,133
Interbank investments	9	297,064,540	187,012,603	298,301,396	189,483,316
Securities	10.d	73,384,339	72,422,703	81,884,731	82,141,286
Loan portfolio	12	1,210,031,716	1,204,776,235	1,235,304,143	1,229,907,027
Other financial assets	13	64,834,246	71,046,449	73,333,999	70,850,381
Expected credit risk losses		(102,919,022)	(102,776,536)	(104,048,557)	(103,790,491)
Loan portfolio	12	(97,936,565)	(98,004,759)	(98,752,443)	(98,738,685)
Other financial assets	9 and 13	(4,982,457)	(4,771,777)	(5,296,114)	(5,051,806)
Tax assets		100,102,907	97,419,480	104,127,395	101,077,006
Current tax assets		10,054,059	11,548,781	11,093,424	12,408,456
Deferred tax assets (tax credit)	22	90,048,848	85,870,699	93,033,971	88,668,550
Investments		44,738,999	41,173,368	20,453,000	20,526,343
Investments in subsidiaries, associates and joint ventures	14	44,627,127	41,064,231	20,311,356	20,388,708
Other investments		144,127	143,790	144,127	143,790
Impairment losses		(32,255)	(34,653)	(2,483)	(6,155)
Property for use	15	17,523,537	16,967,411	18,073,325	17,521,224
Property for use		28,102,153	27,335,964	28,738,462	27,959,857
Right of use assets		4,548,280	4,377,166	4,853,755	4,680,985
Accumulated depreciation		(15,104,232)	(14,723,055)	(15,493,445)	(15,094,171)
Impairment losses		(22,664)	(22,664)	(25,447)	(25,447)
Intangibles	16	11,646,690	11,953,028	11,729,401	12,034,747
Intangible assets		22,582,599	22,251,907	23,160,653	22,811,545
Accumulated amortization		(10,896,376)	(10,259,346)	(11,361,828)	(10,707,374)
Impairment losses		(39,533)	(39,533)	(69,424)	(69,424)
Other assets	13	45,329,809	37,388,944	47,962,269	39,815,755
Total assets		2,563,995,608	2,414,775,306	2,606,193,754	2,451,620,708

Liabilities
Financial liabilities at fair value through profit or loss		6,496,148	4,476,749	6,512,590	4,474,734
Derivative financial instruments	11	6,496,148	4,476,749	6,512,590	4,474,734
Financial liabilities at amortized cost		2,276,617,205	2,135,779,671	2,295,828,798	2,149,141,134
Customers resources	17	897,473,419	860,648,320	934,977,009	897,937,449
Financial institutions resources	18	884,405,158	755,054,062	863,572,857	727,039,247
Resources from issuance of debt securities	19	299,737,221	326,682,384	303,892,571	331,537,120
Other financial liabilities	20	195,001,407	193,394,905	193,386,361	192,627,318
Provisions		36,596,342	36,048,625	37,647,460	37,198,751
Provisions for civil, tax and labor claims	21	30,529,873	29,455,991	30,951,645	29,889,800
Other provisions		6,066,469	6,592,634	6,695,815	7,308,951
Provisions for expected credit losses on financial guarantee contracts and other commitments	31	756,015	789,283	760,523	793,913
Tax liabilities		17,310,121	16,230,257	20,078,405	21,179,813
Current tax liabilities		1,710,558	1,721,395	4,216,882	6,425,409
Deferred tax liabilities	22	15,599,563	14,508,862	15,861,523	14,754,404
Other liabilities	20	39,699,502	36,862,963	50,426,054	46,727,068
Total liabilities		2,377,475,333	2,230,187,548	2,411,253,830	2,259,515,413

Shareholders' equity
Capital	23.b	120,000,000	120,000,000	120,000,000	120,000,000
Instruments qualifying to common equity tier 1 capital	23.c	--	--	4,100,000	4,100,000
Capital reserves	23.d	1,416,070	1,416,070	1,417,307	1,417,307
Profit reserves	23.d	82,221,366	83,087,465	81,486,681	82,301,417
Other comprehensive income (loss)	23.h	(19,894,936)	(19,658,517)	(19,894,936)	(19,658,517)
Treasury shares	23.l	(257,260)	(257,260)	(258,497)	(258,497)
Retained earnings (accumulated losses)		3,035,035	--	3,035,035	--
Non-controlling interest	23.i	--	--	5,054,334	4,203,585
Total shareholders' equity	23	186,520,275	184,587,758	194,939,924	192,105,295
Total liabilities and equity		2,563,995,608	2,414,775,306	2,606,193,754	2,451,620,708

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌Statements of income

	Note	Banco do Brasil		Consolidated
	Note	01/01 to 03/31/2026	01/01 to 03/31/2025	01/01 to 03/31/2026	01/01 to 03/31/2025
Income from financial intermediation		72,422,469	59,344,968	75,071,108	61,919,432
Loan portfolio	12.b	41,329,731	36,113,509	43,000,221	37,152,800
Interbank investments	9.b	6,048,095	8,218,419	6,052,171	8,222,818
Securities	10.f	23,173,073	13,704,391	24,251,112	15,238,568
Derivative financial instruments	11.e	(916,796)	(1,175,717)	(1,020,500)	(1,199,447)
Reserve requirement	8.b	2,623,582	2,036,017	2,623,582	2,036,017
Other financial assets		164,784	448,349	164,522	468,676

Expenses from financial intermediation		(49,856,533)	(36,734,131)	(50,243,641)	(37,314,998)
Financial institutions resources	18.d	(23,946,698)	(14,746,304)	(23,372,314)	(14,156,512)
Customers resources	17.c	(18,109,947)	(15,518,763)	(18,987,416)	(16,610,045)
Resources from issuance of debt securities	19.d	(9,287,108)	(8,473,583)	(9,453,576)	(8,663,989)
Other funding expenses	20.b	1,487,220	2,004,519	1,569,665	2,115,548

Allowance for losses associated with credit risk		(16,650,212)	(11,275,937)	(16,843,154)	(11,486,677)
Loan portfolio	12.h	(16,473,323)	(11,474,103)	(16,618,829)	(11,525,107)
Financial guarantees provided and other commitments	31.b	33,365	152,216	33,582	168,800
Other financial assets	9.b, 10.f, 13.c	(210,254)	45,950	(257,907)	(130,370)

Net Income from financial intermediation		5,915,724	11,334,900	7,984,313	13,117,757

Other operating income/expenses		(3,467,149)	(2,624,493)	(3,359,839)	(2,498,012)
Service fee income	24	4,987,516	4,658,011	8,821,279	8,361,470
Personnel expenses	25.a	(6,204,690)	(5,737,466)	(6,781,843)	(6,322,175)
Other administrative expenses	25.b	(3,946,914)	(3,719,124)	(3,726,189)	(3,631,345)
Tax expenses	22.c	(1,631,641)	(1,547,309)	(2,330,922)	(2,173,423)
Income from equity method investments	14.a	3,836,734	3,806,784	1,793,243	1,758,903
Other income/(expenses)	26	(508,154)	(85,389)	(1,135,407)	(491,442)

Provisions	21.b	(2,637,946)	(2,825,246)	(2,631,989)	(2,838,360)
Provisions for civil, tax and labor claims		(2,631,712)	(2,813,799)	(2,625,755)	(2,826,913)
Other		(6,234)	(11,447)	(6,234)	(11,447)

Operating income		(189,371)	5,885,161	1,992,485	7,781,385

Net non-operating Income		141,664	(27,893)	205,798	39,089

Profit before taxation and profit sharing		(47,707)	5,857,268	2,198,283	7,820,474

Income tax and social contribution	22	3,480,615	1,807,031	2,099,299	590,415

Employee and directors profit sharing		(400,046)	(865,457)	(404,415)	(869,297)

Non-controlling interest	23.i	--	--	(803,163)	(769,527)

Net income		3,032,862	6,798,842	3,090,004	6,772,065

Net income attributable to shareholders
Shareholders of the bank		3,032,862	6,798,842	3,090,004	6,772,065
Non-controlling interests		--	--	803,163	769,527

Earnings per share	23.e
Weighted average number of shares - basic and diluted		5,709,057,927	5,709,128,303
Basic and diluted earnings per share (R$)		0.53	1.19

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌Statements of comprehensive income

	Banco do Brasil		Consolidated
	01/01 to 03/31/2026	01/01 to 03/31/2025	01/01 to 03/31/2026	01/01 to 03/31/2025
Net income attributable to controlling interests	3,032,862	6,798,842	3,090,004	6,772,065
Net income attributable to non-controlling interests	--	--	803,163	769,527
Net income attributable to shareholders	3,032,862	6,798,842	3,893,167	7,541,592

Items that may be subsequently reclassified to the income Statement

Financial assets at fair value in other comprehensive income	(278,299)	1,190,997	(335,568)	1,033,702
Unrealized gains/(losses)	(350,049)	2,085,402	(329,704)	2,056,214
Realized (gains)/losses - reclassified to profit or loss	(524)	80,203	(132,596)	(122,934)
Tax effect	72,274	(974,608)	126,732	(899,578)

Share in the comprehensive income of subsidiaries, associates and joint ventures	125,461	(111,501)	135,859	12,663
Unrealized gains/(losses) on financial assets at FVOCI	38,345	(92,212)	(5,368)	86,536
Unrealized gains/(losses) on cash flow hedge	43,135	(28,212)	43,135	(28,212)
Unrealized gains/(losses) on other comprehensive income	130,975	(20,020)	192,247	(25,262)
Tax effect	(86,994)	28,943	(94,155)	(20,399)

Hedge of net investment abroad	49,259	74,930	49,259	74,930
Unrealized gains/(losses)	89,562	136,235	89,562	136,235
Tax effect	(40,303)	(61,305)	(40,303)	(61,305)

Foreign currency exchange adjustments	(58,781)	(645,758)	(60,151)	(784,709)

Items that will not be subsequently reclassified to the income Statement

Financial assets at fair value in other comprehensive income	(74,059)	124,937	21,203	115,129
Unrealized gains/(losses)	(134,653)	226,549	38,550	206,001
Tax effect	60,594	(101,612)	(17,347)	(90,872)

Other comprehensive income net of tax effects	(236,419)	633,605	(189,398)	451,715

Total comprehensive income	2,796,443	7,432,447	3,703,769	7,993,307

Comprehensive income attributable to controlling interests	2,796,443	7,432,447	2,853,585	7,405,669
Comprehensive income attributable to non-controlling interests	--	--	850,184	587,638

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌Statements of changes in shareholders' equity

Banco do Brasil	Note	Capital	Capital reserves	Profit reserves		Other comprehensive income (loss)	Treasury shares	Retained earnings (accumulated losses)	Total
Banco do Brasil	Note	Capital	Capital reserves	Legal reserve	Statutory reserves	Other comprehensive income (loss)	Treasury shares	Retained earnings (accumulated losses)	Total
Balances at December 31, 2024		120,000,000	1,410,594	15,221,388	66,401,024	(21,892,443)	(262,046)	--	180,878,517
Adoption of CMN Resolution n° 4,966/2021		--	--	--	--	577,266	--	(11,530,338)	(10,953,072)
Balances at Jan 1, 2025		120,000,000	1,410,594	15,221,388	66,401,024	(21,315,177)	(262,046)	(11,530,338)	169,925,445
Financial assets at fair value	23.h	--	--	--	--	1,239,832	--	--	1,239,832
Foreign exchange variation of investments abroad	23.h	--	--	--	--	(645,758)	--	--	(645,758)
Cash flow hedge	23.h	--	--	--	--	(15,516)	--	--	(15,516)
Hedge of net investment abroad	23.h	--	--	--	--	74,930	--	--	74,930
Change in participation in the capital of associates/subsidiaries	23.h	--	--	--	--	(2,020)	--	--	(2,020)
Other		--	--	--	--	(17,863)	--	36,300	18,437
Share-based payment transactions		--	4,879	--	--	--	4,381	--	9,260
Net income	23.g	--	--	--	--	--	--	6,798,842	6,798,842
Allocation - Interest on own capital	23.f	--	--	--	(2,760,569)	--	--	--	(2,760,569)
Balances at March 31, 2025		120,000,000	1,415,473	15,221,388	63,640,455	(20,681,572)	(257,665)	(4,695,196)	174,642,883
Changes in the period		--	4,879	--	(2,760,569)	633,605	4,381	6,835,142	4,717,438
Balances at December 31, 2025		120,000,000	1,416,070	16,128,978	66,958,487	(19,658,517)	(257,260)	--	184,587,758
Financial assets at fair value	23.h	--	--	--	--	(381,380)	--	--	(381,380)
Foreign exchange variation of investments abroad	23.h	--	--	--	--	(58,781)	--	--	(58,781)
Cash flow hedge	23.h	--	--	--	--	23,725	--	--	23,725
Hedge of net investment abroad	23.h	--	--	--	--	49,259	--	--	49,259
Change in participation in the capital of associates/subsidiaries	23.h	--	--	--	--	839	--	--	839
Other		--	--	--	--	129,919	--	2,173	132,092
Net income	23.g	--	--	--	--	--	--	3,032,862	3,032,862
Allocation - Interest on own capital	23.f	--	--	--	(866,099)	--	--	--	(866,099)
Balances at March 31, 2026		120,000,000	1,416,070	16,128,978	66,092,388	(19,894,936)	(257,260)	3,035,035	186,520,275
Changes in the period		--	--	--	(866,099)	(236,419)	--	3,035,035	1,932,517

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

Consolidated	Note	Capital	Instruments qualifying to common equity tier 1 capital	Capital reserves	Profit reserves		Other comprehensive income (loss)	Treasury shares	Retained earnings (accumulated losses)	Noncontrolling interest	Total
Consolidated	Note	Capital	Instruments qualifying to common equity tier 1 capital	Capital reserves	Legal reserve	Statutory reserves	Other comprehensive income (loss)	Treasury shares	Retained earnings (accumulated losses)	Noncontrolling interest	Total
Balances at December 31, 2024		120,000,000	5,100,000	1,412,071	15,221,388	65,994,017	(21,892,443)	(263,523)	--	4,501,238	190,072,748
Adoption of CMN Resolution n° 4,966/2021		--	--	--	--	--	577,266	--	(11,530,338)	(87,858)	(11,040,930)
Balances at Jan 1, 2025		120,000,000	5,100,000	1,412,071	15,221,388	65,994,017	(21,315,177)	(263,523)	(11,530,338)	4,413,380	179,031,818
Financial assets at fair value	23.h	--	--	--	--	--	1,239,832	--	--	(37,559)	1,202,273
Foreign exchange variation of investments abroad	23.h	--	--	--	--	--	(645,758)	--	--	(138,953)	(784,711)
Cash flow hedge	23.h	--	--	--	--	--	(15,516)	--	--	--	(15,516)
Hedge of net investment abroad	23.h	--	--	--	--	--	74,930	--	--	--	74,930
Change in participation in the capital of associates/subsidiaries	23.h	--	--	--	--	--	(2,020)	--	--	104	(1,916)
Other		--	--	--	--	--	(17,863)	--	36,300	(5,482)	12,955
Share-based payment transactions		--	--	4,397	--	--	--	4,863	--	--	9,260
Change in noncontrolling interest		--	--	--	--	--	--	--	--	(18,130)	(18,130)
Net income	23.g	--	--	--	--	--	--	--	6,772,065	769,527	7,541,592
Interest on instruments qualifying to common equity		--	--	--	--	--	--	--	(102,581)	--	(102,581)
Unrealized gains		--	--	--	--	(129,358)	--	--	129,358	--	--
Allocation - Interest on own capital	23.f	--	--	--	--	(2,760,569)	--	--	--	--	(2,760,569)
Balances at March 31, 2025		120,000,000	5,100,000	1,416,468	15,221,388	63,104,090	(20,681,572)	(258,660)	(4,695,196)	4,982,887	184,189,405
Changes in the period		--	--	4,397	--	(2,889,927)	633,605	4,863	6,835,142	569,507	5,157,587
Balances at December 31, 2025		120,000,000	4,100,000	1,417,307	16,128,978	66,172,439	(19,658,517)	(258,497)	--	4,203,585	192,105,295
Financial assets at fair value	23.h	--	--	--	--	--	(381,380)	--	--	(13,049)	(394,429)
Foreign exchange variation of investments abroad	23.h	--	--	--	--	--	(58,781)	--	--	(1,370)	(60,151)
Cash flow hedge	23.h	--	--	--	--	--	23,725	--	--	--	23,725
Hedge of net investment abroad	23.h	--	--	--	--	--	49,259	--	--	--	49,259
Change in participation in the capital of associates/subsidiaries	23.h	--	--	--	--	--	839	--	--	254	1,093
Other		--	--	--	--	--	129,919	--	2,173	61,186	193,278
Change in noncontrolling interest		--	--	--	--	--	--	--	--	565	565
Net income	23.g	--	--	--	--	--	--	--	3,090,004	803,163	3,893,167
Interest on instruments qualifying to common equity		--	--	--	--	--	--	--	(5,779)	--	(5,779)
Unrealized gains		--	--	--	--	51,363	--	--	(51,363)	--	--
Allocation - Interest on own capital	23.f	--	--	--	--	(866,099)	--	--	--	--	(866,099)
Balances at March 31, 2026		120,000,000	4,100,000	1,417,307	16,128,978	65,357,703	(19,894,936)	(258,497)	3,035,035	5,054,334	194,939,924
Changes in the period		--	--	--	--	(814,736)	(236,419)	--	3,035,035	850,749	2,834,629

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌Statements of cash flows

	Note	Banco do Brasil		Consolidated
	Note	01/01 to 03/31/2026	01/01 to 03/31/2025	01/01 to 03/31/2026	01/01 to 03/31/2025
Cash flows from operating activities
Net income		3,032,862	6,798,842	3,090,004	6,772,065
Adjustments to net income		10,723,270	5,877,606	14,749,819	8,821,330
Expected credit risk losses		16,650,212	11,275,937	16,843,154	11,486,677
Depreciation and amortization		1,419,492	1,036,972	1,460,826	1,071,986
Exchange (gain) loss on the conversion of assets and liabilities into foreign currency		(3,667,010)	(6,633,734)	(3,930,771)	(7,112,837)
Share of (earnings) losses of subsidiaries, associates and joint ventures	14	(3,836,734)	(3,806,784)	(1,793,243)	(1,758,903)
(Gain) loss on the disposal of assets		(171,399)	(15,741)	(169,690)	(14,242)
Civil, tax and labor claims and other provisions	21	2,637,946	2,825,246	2,631,989	2,838,360
Adjustment of actuarial assets/liabilities and surplus allocation funds	28.d.4/f	(1,061,582)	(1,012,174)	(1,061,582)	(1,012,174)
Effect of changes in foreign exchange rates in cash and cash equivalents		2,297,304	4,470,492	2,475,992	4,902,711
Non-controlling interests		--	--	803,163	769,527
Income tax and social contribution		(3,480,615)	(1,807,031)	(2,099,299)	(590,415)
Other adjustments		(64,344)	(455,577)	(410,720)	(1,759,360)
Adjusted net income		13,756,132	12,676,448	17,839,823	15,593,395
Changes in assets and liabilities		877,842	29,900,086	2,779,589	32,073,345
(Increase) decrease in Central Bank compulsory reserves		2,431,540	3,082,273	2,431,540	3,082,273
(Increase) decrease in short-term interbank investments		(112,035,689)	14,632,220	(111,969,581)	14,393,679
(Increase) decrease in financial assets at fair value through profit or loss		(489,876)	(12,077,896)	(1,820,239)	(15,416,601)
(Increase) decrease in derivatives		361,645	1,085,071	383,638	1,101,458
(Increase) decrease in loans, net of expected losses		(22,284,618)	(17,265,912)	(22,503,609)	(16,012,707)
(Increase) decrease in other financial assets		4,935,653	2,191,848	(3,658,765)	(6,400,993)
(Increase) decrease in other assets		(15,643,304)	(11,329,668)	(7,369,891)	(5,584,422)
Income tax and social contribution paid		(72,121)	(1,542,124)	(2,707,490)	(5,040,874)
(Decrease) increase in customer resources		39,750,126	(4,529,213)	39,964,587	(5,970,029)
(Decrease) increase in financial institution resources		130,590,351	25,080,445	137,762,632	32,286,717
(Decrease) increase in funds from issuance of securities		(23,428,700)	20,648,334	(24,188,186)	19,517,316
(Decrease) increase in other financial liabilities		(7,826,819)	(1,101,245)	(9,253,220)	4,233,368
(Decrease) increase in other liabilities		4,589,654	11,025,953	5,708,173	11,884,160
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES		14,633,974	42,576,534	20,619,412	47,666,740

Cash flows from investing activities
Purchase of financial assets at fair value through other comprehensive income		(46,410,495)	(106,319,649)	(48,006,769)	(113,002,831)
Disposal of financial assets at fair value through other comprehensive income		35,870,961	61,760,481	37,026,571	69,421,747
Purchase of securities at amortized cost		--	(11,648,340)	(635,359)	(13,097,167)
Redemption of securities at amortized cost		119,651	168,815	2,476,516	168,815
Dividends received from associates and joint ventures		8,465,648	7,011,815	1,806,712	3,586,758
Purchase of property and equipment		(1,076,675)	(799,701)	(1,097,887)	(816,685)
Disposal of property and equipment		3,536	9,845	3,586	6,854
Purchase of intangible assets		(441,257)	(897,866)	(444,600)	(898,652)
Capital investment in Broto S.A.		(9,000)	--	(9,000)	--
Disposal of interest in Cadam S.A.		39,804	--	39,804	--
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES		(3,437,827)	(50,714,600)	(8,840,426)	(54,631,161)

Cash flows from financing activities
(Decrease) increase in subordinated debts		(3,624,702)	5,607,019	(3,624,702)	5,607,019
Dividends paid to non-controlling shareholders		--	--	(1,634,422)	(1,429,575)
Interest on own capital paid		(1,635,144)	(3,584,289)	(1,635,144)	(3,584,289)
Repayments and extinguishments of lease liabilities		(351,138)	(382,433)	(351,138)	(382,433)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES		(5,610,984)	1,640,297	(7,245,406)	210,722

Net variation of cash and cash equivalents		5,585,163	(6,497,769)	4,533,580	(6,753,699)
At the beginning of the period		58,474,875	81,150,329	59,635,525	83,167,243
Effect of changes in foreign exchange rates in cash and cash equivalents		(2,297,304)	(4,470,492)	(2,475,992)	(4,902,711)
At the end of the period		61,762,734	70,182,068	61,693,113	71,510,833
Increase (decrease) in cash and cash equivalents		5,585,163	(6,497,769)	4,533,580	(6,753,699)

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌Statements of value added

		Banco do Brasil				Consolidated
		01/01 to 03/31/2026		01/01 to 03/31/2025		01/01 to 03/31/2026		01/01 to 03/31/2025
Income		57,755,338		49,788,514		63,487,635		55,503,512
Income from financial intermediation		72,422,469		59,344,968		75,071,108		61,919,432
Service fee income		4,987,516		4,658,011		8,821,279		8,361,470
Allowance for losses associated with credit risk		(16,650,212)		(11,275,937)		(16,843,154)		(11,486,677)
Other income/(expenses)		(3,004,435)		(2,938,528)		(3,561,598)		(3,290,713)
Expenses from financial intermediation		(49,856,533)		(36,734,131)		(50,243,641)		(37,314,998)
Inputs purchased from third parties		(2,334,211)		(2,202,795)		(2,069,434)		(2,077,028)
Materials, water, electric and gas		(113,102)		(122,098)		(119,673)		(132,192)
Expenses with outsourced services	25	(192,927)		(207,521)		(93,200)		(136,970)
Communications	25	(88,523)		(110,225)		(105,839)		(127,389)
Data processing	25	(637,996)		(535,242)		(446,591)		(409,974)
Transport	25	(14,051)		(23,223)		(19,110)		(39,075)
Security services	25	(377,093)		(349,934)		(385,156)		(358,150)
Financial system services	25	(99,681)		(117,121)		(126,766)		(148,610)
Advertising and marketing	25	(97,220)		(102,117)		(106,139)		(111,159)
Maintenance and upkeep	25	(316,864)		(330,801)		(226,650)		(226,389)
Other		(396,754)		(304,513)		(440,310)		(387,120)
Gross added value		5,564,594		10,851,588		11,174,560		16,111,486
Depreciation and amortization		(1,419,492)		(1,036,972)		(1,460,826)		(1,071,986)
Value added produced by entity		4,145,102		9,814,616		9,713,734		15,039,500
Value added received through transfer		3,836,734		3,806,784		1,793,243		1,758,903
Income from equity method investments		3,836,734		3,806,784		1,793,243		1,758,903
Added value to distribute		7,981,836	100.00%	13,621,400	100.00%	11,506,977	100.00%	16,798,403	100.00%
Value added distributed		7,981,836	100.00%	13,621,400	100.00%	11,506,977	100.00%	16,798,403	100.00%
Personnel		5,990,692	75.05%	6,072,319	44.58%	6,537,601	56.81%	6,616,031	39.39%
Salaries and fees		2,903,649		3,477,023		3,306,714		3,882,636
Employee and directors profit sharing		400,046		865,457		404,415		869,297
Benefits and staff training		1,317,128		1,027,125		1,390,911		1,086,262
FGTS (Government severance indemnity fund for employees)		220,713		206,984		229,960		216,775
Other charges		1,149,156		495,730		1,205,601		561,061
Taxes, rates and contributions		(1,102,774)	-13.82%	431,130	3.17%	1,012,435	8.81%	2,318,697	13.80%
Federal		(1,395,138)		149,160		391,567		1,752,303
State		503		463		503		463
Municipal		291,861		281,507		620,365		565,931
Interest on third parties' capital		61,056	0.77%	319,109	2.34%	63,774	0.55%	322,083	1.92%
Rent	25	61,056		319,109		63,774		322,083
Interest on own capital		3,032,862	38.00%	6,798,842	49.91%	3,893,167	33.83%	7,541,592	44.89%
Federal government's interest on own capital		433,050		1,380,285		433,050		1,380,285
Other shareholders' interest on own capital		433,049		1,380,284		433,049		1,380,284
Interest on the instrument eligible to the federal government's common equity tier 1 capital		--		--		5,779		102,581
Retained earnings		2,166,763		4,038,273		2,218,126		3,908,915
Non-controlling interest in retained earnings		--		--		803,163		769,527

See the accompanying notes to the financial statements.

In thousands of Reais, unless otherwise stated

‌1 - The Bank and its operations

Banco do Brasil S.A. ("Banco do Brasil" or the "Bank") is a publicly-traded company, which engages economic activities pursuant to art. 173 of the Brazilian Federal Constitution, subject to the rules of Brazilian Corporate Law, and is governed by Laws 4,595/1964, 13,303/2016 and the respective ruling Decree. The Brazilian Federal Government controls the Bank. Its headquarters and domicile are located at Setor de Autarquias Norte, Quadra 5, Lote B, Edifício Banco do Brasil, Brasília, Federal District, Brazil.

The Bank has its shares traded in the segment known as "Novo Mercado of B3 S.A. - Brasil", "Bolsa", "Balcão (B3)", under the ticker "BBAS3" and its American Depositary Receipts (ADRs) on the over-the-counter market in the United States under the ticker "BDORY". The Bank's shareholders, managers and members of the Fiscal Council are subject to the provisions of B3's Novo Mercado Regulation. The provisions of Novo Mercado will prevail over the statutory provisions, in case of prejudice to the rights of the recipients of the public offers provided for in the Bylaws.

The Bank is a multiple-purpose bank with operations throughout the national territory also develops activities in important financial centers globally. The Bank and its subsidiaries' business activities include the following:

all banking operations (such as retail, commercial, investment, services, etc);
banking and financial services, including foreign exchange transactions and other services such as insurance, pension plans, capitalization bonds, securities brokerage, credit/debit card management, consortium management, investment funds and managed portfolios; and
all other types of transactions available to banks within Brazil's National Financial System.
The Bank also acts as an agent for execution of the Brazilian Federal Government's credit and financial policies,
Brazilian Law requires the Bank to perform functions, specifically those under art. 19 of Law 4,595/1964:
act as financial agent for the National Treasury;
provide banking services on behalf of the Federal Government and other governmental agencies;
provide clearing services for checks and other documents;
buy and sell foreign currencies as determined by the National Monetary Council (CMN) for the Bank's
own account and for the account of the Central Bank of Brasil (Bacen);
provide receipt and payment services for Bacen, in addition to other services;
finance the purchase and development of small and medium-sized farms; and
disseminate and provide credit; among others.

With a history of 217 years, the Bank operates in a responsible manner to promote social inclusion through the generation of jobs and income.

The Bank finances the production and commercialization of agricultural goods; fosters rural investments such as storage, processing, industrialization of agricultural products and modernization of machinery and implements; and adapting rural properties to environmental legislation. Thus, the Bank supports Brazilian agribusiness in all stages of the production chain.

The Bank offers to micro and small companies, working capital, financing for investments, and foreign trade solutions, in addition to several other options related to cash flow, insurance, pension and services. The Bank provides financing alternatives and business models that promote the transition to an inclusive economy to several companies, including Individual Microentrepreneurs (Microempreendedores Individuais - MEI).

In foreign trade financing, the Bank operates government policy instruments regarding productive development, entrepreneurship, social and financial inclusion, including the Income Generation Program (Programa de Geração e Renda - Exportação - Proger) and the Export Financing Program (Programa de Financiamento às Exportações -Proex).

Banco do Brasil also acts as a Financial Market System Operating Institution (IOSMF) executing check clearing services through the Check Clearing Centralizer (Compe), a Financial Market Infrastructure (IMF), that forms part of the Brazilian Payment System (SPB), in accordance with BCB Resolutions nº 304 and 314/2023.

More information about the subsidiaries is included in Note 2, while Note 6 contains a description of the Bank's

business segments.

In thousands of Reais, unless otherwise stated

‌2 - Presentation of financial statements

Statement of compliance
These individual and consolidated financial statements have been prepared in accordance with accounting practices adopted in Brazil applicable to institutions authorized by the Central Bank of Brasil (Cosif), including accounting guidelines issued by Brazilian Corporate Law in compliance with the rules and instructions of the Brazilian Securities Commission (Comissão de Valores Mobiliários - CVM), when applicable. All relevant information specific to the financial statements is highlighted and corresponds to that used by Management in its administration.
As permitted by article 77 of CMN Resolution No. 4,966/2021, the consolidated financial statements prepared and disclosed in accordance with the Accounting Standards for Institutions regulated by the Central Bank of Brazil ("Cosif") are presented on an additional basis to the consolidated financial statements prepared in accordance with the International Financial Reporting Standards - Accounting Standards (IFRS), which are prepared and disclosed separately by the Bank, in accordance with the provisions of CMN Resolution No. 4,818/2020.
These individual and consolidated financial statements were approved by the Board of Directors and authorized for issuance on May 12, 2026.
Functional and presentation currency
These individual and consolidated financial statements are presented in Brazilian reais (R$), which is the Bank's functional and presentation currency. Unless otherwise indicated, the quantitative financial information is presented in thousands of Reais - BRL (R$ thousand).
Going concern
Management has assessed the Bank's ability to continue its normal operations and is satisfied that it has the adequate resources to continue as a going concern for the foreseeable future. In addition, Management is not aware of any material uncertainty that could generate significant doubts about its ability to continue as a going concern. In making this assessment, management has considered a wide range of information including projections of profitability, regulatory capital requirements and funding needs. The assessment also includes consideration of reasonably possible downside economic scenarios and their potential impacts on the profitability, capital and liquidity of the Bank.
Changes in material accounting policies
These individual and consolidated financial statements were prepared using the same policies and accounting methods used to prepare the individual and consolidated financial statements for the year ended December 31, 2025, except in the cases indicated in item "g" of this Note.

Consolidated financial statements

The consolidated financial statements include the operations of the Bank performed by its domestic and foreign agencies and also include the operations of the Bank's controlled entities. The consolidated financial statements reflect the assets, liabilities, income and expenses of Banco do Brasil and its controlled entities, in accordance with CPC 36 (R3) - Consolidated financial statements.

In the preparation of the consolidated financial statements, amounts resulting from transactions between consolidated companies, including the equity interest held by one in another, balance sheet accounts, revenues, expenses and unrealized profits, net of tax effects, were eliminated. Foreign exchange gains and losses arising from agency operations are presented within the statement of income line items where the related income and expenses of these operations are recognized. Foreign exchange gains and losses on assets and liabilities of overseas branches and subsidiaries are presented under "Expenses from financial institutions resources" (as per note 18.d) aiming to offset the foreign exchange effects on financial liabilities designated as hedging instruments to protect the Bank's results from currency fluctuations (as per note 14.a and 18.d).

In the consolidated financial statements, there was a reclassification of the Instrument qualifying as CET1 - hybrid capital and debt instrument to Shareholder's equity (Note 23.c).

Non-controlling interests are presented in the statements of financial position as a segregated component of equity. The result attributable to non-controlling interests is shown separately in the statements of income and in the statements of comprehensive income.

In thousands of Reais, unless otherwise stated

Non-exclusive and open-ended funds, originating from the initial investment of BB Gestão de Recursos -Distribuidora de Títulos e Valores Mobiliários S.A. - BB Asset's own resources, are intended for external investors, and it does not intend to assume or substantially retain the risks and benefits of these investment funds.

Equity interests included in the consolidated financial statements, segregated by business segments:

	Activity	Country of incorporation	Functional currency	Equity interest (%)
	Activity	Country of incorporation	Functional currency	Mar 31, 2026	Dec 31, 2025
Banking segment
Banco do Brasil AG	Banking	Austria	Real	100.00%	100.00%
BB Leasing S.A. - Arrendamento Mercantil	Leasing	Brazil	Real	100.00%	100.00%
Banco do Brasil Securities LLC.	Broker	USA	Real	100.00%	100.00%
BB Securities Ltd.	Broker	England	Real	100.00%	100.00%
BB USA Holding Company, Inc.	Holding	USA	Real	100.00%	100.00%
BB Cayman Islands Holding	Holding	Cayman Islands	Real	100.00%	100.00%
Banco do Brasil Americas	Banking	USA	American Dollar	100.00%	100.00%
Banco Patagonia S.A.	Banking	Argentina	Argentinian Peso	80.39%	80.39%
Investment segment
BB Banco de Investimento S.A.	Investment bank	Brazil	Real	100.00%	100.00%
Segment of fund management
BB Gestão de Recursos - Distribuidora de Títulos e Valores Mobiliários S.A. - BB Asset	Asset management	Brazil	Real	100.00%	100.00%
Segment of insurance, private pension fund and capitalization
BB Seguridade Participações S.A. 1	Holding	Brazil	Real	68.26%	68.26%
BB Corretora de Seguros e Administradora de Bens S.A. 1	Broker	Brazil	Real	68.26%	68.26%
BB Seguros Participações S.A. 1	Holding	Brazil	Real	68.26%	68.26%
Segment of payment methods
BB Administradora de Cartões de Crédito S.A.	Service rendering	Brazil	Real	100.00%	100.00%
BB Elo Cartões Participações S.A.	Holding	Brazil	Real	100.00%	100.00%
Other segments
Ativos S.A. Securitizadora de Créditos Financeiros	Credits acquisition	Brazil	Real	100.00%	100.00%
Ativos S.A. Gestão de Cobrança e Recuperação de Crédito	Collection management	Brazil	Real	100.00%	100.00%
BB Administradora de Consórcios S.A.	Consortium	Brazil	Real	100.00%	100.00%
BB Marketplace Intermediação de Negócios e Serviços S.A.	Service rendering	Brazil	Real	100.00%	100.00%
BB Tecnologia e Serviços	IT	Brazil	Real	100.00%	100.00%
BB Impacto ASG I Fundo em Investimento em Multiestratégia Investimento no Exterior 2	Investment funds	Brazil	Real	100.00%	100.00%
BB Ventures I Fundo de Investimento em Participações Multiestratégia - Investimento no Exterior 2	Investment funds	Brazil	Real	100.00%	100.00%
FIP Agventures II Multiestratégias 2	Investment funds	Brazil	Real	55.08%	55.08%

1 - Refers to the percentage of the equity interest, considering the acquisition of shares by the invested entity held in treasury. 2- Investment funds in which the Bank substantially assumes or retains risks and benefits.

In thousands of Reais, unless otherwise stated

The consolidated financial statements also include securitization instruments controlled by the Bank, direct or indirect, described as follows.

Dollar Diversified Payment Rights Finance Company (SPE Dollar)

SPE Dollar was organized under the laws of the Cayman Islands for the following purposes:

fund raising by issuance of securities in the international market;
use of resources obtained by issuing securities to pay for the purchase, with the Bank, of the rights to payment orders issued by banking correspondents located in the U.S. and by the agency of BB New York, in USD, for any agency in Brazil (Rights on Consignment); and
making payments of principal and interest on securities issued and other payments defined in the contract of issuance of these securities.
The SPE Dollar pays the obligations under the securities with USD funds received from the payment orders, has no material assets or liabilities other than rights and obligations under the securities contracts, and lastly has no subsidiaries or employees.
Loans Finance Company Limited (SPE Loans)
SPE Loans was organized under the laws of the Cayman Islands for the following purposes:
fund raising by issuance of securities in the international market;
closing and booking repurchase agreements with the Bank;
purchasing of protection against credit risk of the Bank through a credit derivative, which is actionable only in case of the Bank's default in any of the obligations assumed in repurchase agreements.

The amounts, terms, currencies, rates and cash flows of the repurchase agreements are identical to those of the securities. The rights and income created from the repurchase agreements cover and match the obligations and expenses created by the securities. As a result, the SPE Loans does not generate profit or loss and does not hold any assets and liabilities other those from the repurchase agreements, credit default swap and outstanding securities.

Information for comparability purposes

We presente below the effects of voluntary changes made to the presentation of foreign exchange variation results in the Income Statement with the aim of better reflect the economic substance of transactions within this report.

In accordance with CPC 23, comparative balances have been retrospectively restated. Consequently, the corresponding amounts in the Statement of value added were adjusted, as well as the related notes.

Statement of Income

01/01 to 03/31/2025	Banco do Brasil			Consolidated
01/01 to 03/31/2025	Original report	Adjustments	Restarted balances	Original report	Adjustments	Restarted balances
Income from financial intermediation	61,983,104	(2,638,136)	59,344,968	64,566,016	(2,646,584)	61,919,432
Loan portfolio	35,952,497	161,012	36,113,509	36,991,788	161,012	37,152,800
Other financial assets	3,247,497	(2,799,148)	448,349	3,276,272	(2,807,596)	468,676
Expenses from financial intermediation	(39,372,267)	2,638,136	(36,734,131)	(39,961,582)	2,646,584	(37,314,998)
Financial institutions resources	(16,934,235)	2,187,931	(14,746,304)	(16,380,056)	2,223,544	(14,156,512)
Customers resources	(13,330,832)	(2,187,931)	(15,518,763)	(14,386,501)	(2,223,544)	(16,610,045)
Other funding expenses	(633,617)	2,638,136	2,004,519	(531,036)	2,646,584	2,115,548

In thousands of Reais, unless otherwise stated

Convergence to IFRS Accounting Standards

The Accounting Pronouncements Committee (CPC) issues pronouncements and accounting interpretations aligned with International Financial Reporting Standards - Accounting Standards (IFRS) and approved by the CVM. CMN approved the following pronouncements, fully observed by the Bank:

CPC	Resolutions
CPC 00 (R2) - Conceptual framework for Financial Reporting	CMN Resolution 4,924/2021
CPC 01 (R1) - Impairment of Assets	CMN Resolution 4,924/2021
CPC 03 (R2) - Statement of Cash Flows	CMN Resolution 4,818/2020
CPC 05 (R1) - Related Party Disclosures	CMN Resolution 4,818/2020
CPC 06 (R2) - Lease	CMN Resolution 4,975/2021
CPC 10 (R1) - Share-based Payment	CMN Resolution 3,989/2011
CPC 23 - Accounting Policies, Changes in Accounting Estimates and Errors	CMN Resolution 4,924/2021
CPC 24 - Events after the Reporting Period	CMN Resolution 4,818/2020
CPC 25 - Provisions, Contingent Liabilities and Contingent Assets	CMN Resolution 3,823/2009
CPC 28 - Investment Property	CMN Resolution 4,967/2021
CPC 33 (R1) - Employee Benefits	CMN Resolution 4,877/2020
CPC 41 - Earnings per Share	CMN Resolution 4,818/2020
CPC 46 - Fair Value Measurement	CMN Resolution 4,924/2021
CPC 47 - Revenue from Contracts with Customers	CMN Resolution 4,924/2021

CMN also issued proprietary rules that partially incorporate the pronouncements issued by the CPC and are applicable to the individual and consolidated financial statements:

CMN Standard	Based on CPC Pronouncement
CMN Resolution 4,524/2016 - Recognition of foreign exchange hedging transactions for investments abroad.	CPC 48
CMN Resolution 4,534/2016 - Accounting recognition and measurement of Intangibles asset components.	CPC 04 (R1)
CMN Resolution 4,535/2016 - Recognition and accounting record of the components of property and equipment in use.	CPC 27
CMN Resolution 4,817/2020 - Accounting measurement and recognition of investments in associates, subsidiaries and joint ventures.	CPC 18 (R2) and CPC 45
CMN Resolution 4,966/2021 - Concepts and accounting criteria applicable to financial instruments, as well as for the designation and recognition of hedge relationships (hedge accounting).	CPC 48

The Bank also applied the following pronouncements that are not in conflict with Cosif, as determined by article 22, paragraph 2, of Law No. 6,385/1976:

CPC Pronouncement

CPC 09 (R1) - Statement of Added Value (DVA)

CPC 12 - Present Value Adjustment

CPC 22 - Operating Segments

CPC 36 (R3) - Consolidated Financial Statements

Recently issued standards, applicable or to be applied in future periods
Standards Applicable in Current Periods
1. CMN Resolution 5,185, of November 21, 2024
  The regulation amends CMN Resolution 4,818/2020, which consolidates the general criteria for the preparation and disclosure of individual and consolidated financial statements by financial institutions and other entities authorized to operate by the Bacen.
  According to the regulation, effective as of fiscal year 2026, the Bank must prepare and disclose the financial information report related to sustainability, adopting CBPS 01 and CBPS 02 pronouncements as an integral part of the annual consolidated financial statements. The regulation also establishes that, in the first year, disclosure must occur within 180 days from the reporting date (June 30, 2027).
  In thousands of Reais, unless otherwise stated
  Standards Applicable in Future Periods
2. CMN Resolution 4,966, of November 25, 2021
  Although in force since January 1, 2025, CMN Resolution No. 4,966/2021 includes provisions with deferred application and transitional regimes, whose effects to the Bank converge on January 1, 2027, as described below:
  1. Hedge accounting
    The Bank will apply the new hedge accounting requirements starting on January 1, 2027, as provided for in Article 75 of CMN Resolution No. 4,966/2021.
  2. Present value adjustment of restructured financial assets
  Until December 31, 2026, the Bank uses the renegotiated effective interest rate to calculate the present value of restructured contractual cash flows, and will begin to observe the definitive treatment set forth in CMN Resolution No. 4,966/2021 as of January 1, 2027, as permitted by Article 71-A.
3. CMN Resolution 5,252, of September 25, 2025
  The Resolution establishes accounting concepts and criteria related to the measurement, recognition, derecognition, and disclosure of sustainability assets and liabilities. This standard comes into effect on January 1, 2027.
4. CMN Resolution 5,281, of February 26, 2026

The Resolution establishes accounting criteria related to the measurement, recognition, derecognition, and disclosure of virtual assets. This standard comes into effect on January 1, 2027.

In thousands of Reais, unless otherwise stated

‌3 - Description of significant accounting policies

The accounting practices adopted by Banco do Brasil are applied consistently in all periods presented in these financial statements and applied to all the entities of the Group Banco do Brasil.

Statement of income
On an accrual basis accounting, revenues and expenses are reported in the period in which they are incurred, regardless of receipt or payment. The operations with floating rates are adjusted pro rata die, based on the variation of the indexes agreed, and operations with fixed rates are recorded at future redemption value, adjusted for the unearned income or prepaid expenses for future periods. The operations indexed to foreign currencies are converted at the reporting date using current rates.
Cash and cash equivalents
They comprise cash and cash equivalents and short-term investments readily convertible into cash, with a maximum maturity of three months from the date of acquisition, to be used in short-term commitments, and subject to an insignificant risk of change in value. The balances of cash and cash equivalents in local currency, foreign currency, investments in repurchase agreements - bank position, investments in interbank deposits and investments in foreign currencies were considered.
Financial Instruments
The Bank classifies its financial instruments based on the contractual characteristics of the asset's cash flows, as well as the business model under which the assets are managed by the entity. All financial assets and liabilities are initially recognized on the date of their acquisition, origination, or issuance, that is, the date on which the Bank becomes a party to the contractual provisions of the instrument. The classification of financial assets and liabilities is determined at the initial recognition date.
Classification and Reclassification
Business Model: Reflects how the Bank manages the cash flows of its financial assets. The Bank's management has evaluated, among other factors:
- How the performance of the business model and financial assets is reported to key management personnel;
- The risks that affect the performance of the business model and how these risks are managed; and
- How business managers are compensated.
  Based on this assessment, the Bank determined the business model for its financial assets according to whether the cash flows arise from:
- Receipt of contractual cash flows;
- Sale of financial assets; or
- Both.
  SPPI Criterion (Solely Payments of Principal and Interest): When the contractual terms of financial instruments are consistent with a basic lending agreement, considering the time value of money, credit risk, transaction costs, profit margin, and other risks related to lending.
  Contractual Characteristics of Cash Flows: The Bank analyzes the contractual characteristics of the cash flows of its financial assets to verify whether these flows represent solely payments of principal and interest (SPPI) on the outstanding principal amount. If the contractual terms expose the Bank to risks or volatility in cash flows unrelated to a basic lending agreement, the cash flow does not represent SPPI. Any misalignment in this characteristic will result in the financial instrument being measured at fair value through profit or loss.
  In thousands of Reais, unless otherwise stated
  Reclassification: Financial assets are reclassified when there are changes in the business models for managing their cash flows, and this reclassification must occur prospectively on the first day of the subsequent financial reporting period. The reclassification of financial liabilities is prohibited.
  1. Financial Assets
    Recognition and Measurement
    In general, financial assets are initially recognized at fair value, plus transaction costs individually attributable to the operation, and net of any amounts received upon acquisition or origination of the instrument (except for assets measured at fair value through profit or loss - FVTPL). Subsequently, they are measured at amortized cost or fair value. They are measured at present value, reflecting the application of the effective interest method. The accounting policies applied to each class of financial instruments are as follows:
    Amortized Cost (AC) - An asset is measured in this category when its contractual cash flows consist SPPI, and management maintains it within a business model aimed at receiving the respective contractual cash flows.
    Assets measured in this category are initially recognized at fair value, including transaction costs, and subsequently evaluated at amortized cost using the effective interest rate. Financial income and expenses are recorded on an accrual basis and added to the principal amount each period, with the asset value reduced by principal amortizations and expected credit losses. Financial income earned is recorded in the income statement under financial intermediation revenues.
    For the application of the effective interest rate concept to credit operations and other transactions with credit-granting characteristics classified in this category, the Bank uses a differentiated methodology for recognizing revenues and expenses related to transaction costs and amounts received upon origination of the instrument, without incorporating materiality criteria.
    The differentiated methodology consists of:
    - Recognition of revenues in the income statement on a pro rata temporis basis, considering the original contractual interest rate; and
    - Recognition of revenues and expenses related to transaction costs and other amounts received upon origination of the financial instrument on a straight-line basis, according to the contract characteristics.
      The main assets measured in this category are:
      Interbank Investments
      Interbank investments consist of investments in the open market (repurchase agreement operations) and interbank deposit applications. These assets are presented at their application or acquisition value, plus accrued income up to the balance sheet date, including interest, and reduced by expected losses when applicable.
      Open Market Applications (Repurchase Agreement Operations):
      The Bank invests in securities and financial instruments with a resale commitment, primarily comprising federal government bonds. Repurchase commitments are considered secured financial transactions. The repurchase agreement asset is subdivided into:
    - pending resale - banked position: This consists of securities acquired with a resale commitment that have not been transferred, meaning they have not been sold with a repurchase commitment.
    - pending resale - financed position: This includes securities acquired with a resale commitment that have been transferred, meaning they have been sold with a repurchase commitment.
    Loan portfolio - they are financial assets with fixed or determinable payments.
    Carrying amount of the credit portfolio is reduced by an expected loss allowance, which is recognized in the income statement as "Expected losses associated with credit risk," representing management's estimate of expected losses in the portfolio.
    In thousands of Reais, unless otherwise stated
    The Bank does not recognize revenue of any nature that has not yet been received (except for income arising from the recovery of financial assets previously written off, as provided for in regulation) for credit operations with recovery issues- that is, those overdue for more than 90 days or classified as such based on qualitative criteria. These amounts are recognized in the income statement only upon actual receipt.
    Revenue recognition resumes from the period in which the credit operation is no longer classified as a financial asset with credit recovery issues.
    Fair Value Through Other Comprehensive Income (FVOCI) - An asset is measured in this category when its contractual cash flows consist of SPPI, and management maintains it within a business model aimed at generating returns both through the receipt of its contractual cash flows and the sale of the financial asset with a substantial transfer of risks and rewards. These assets are initially and subsequently recognized at fair value, including transaction costs, with unrealized gains and losses recognized against other comprehensive income, net of tax effects.
    The main assets measured in this category are:
    Debt Instruments - Debt instruments grant their holders the right to receive money or another financial asset from another entity, according to contractually defined terms and rates. These include government bonds, foreign government securities, and other similar financial assets.
    Equity Instruments - Any contract that evidences a residual interest in the assets of an entity or an investment fund after deducting all its liabilities.
    This category includes equity instruments of other entities that are irrevocably designated at initial recognition, provided that such assets are not held within a business model whose primary objective is to realize returns through selling the instruments.
    Fair Value Through Profit or Loss (FVTPL) - Financial assets that do not meet the classification criteria of the previous categories are classified in this category. Generally, assets are measured in this category when their contractual cash flows do not have the characteristic of SPPI, or when management holds them with the objective of generating cash flows through the sale of the assets.
    The main assets measured in this category are:
    Debt Instruments - Debt instruments grant their holders the right to receive money or another financial asset from another entity, according to contractually defined terms and rates. These include government bonds, foreign government securities, and other similar financial assets.
    Equity Instruments - Any contract that evidences a residual interest in the assets of an entity or an investment fund after deducting all its liabilities.
    Derivative Financial Instruments - Derivatives such as:
    - Swaps, futures, forwards, options, and other similar derivatives based on interest rates, exchange rates, stock prices, commodities, and credit risk. Derivatives are recorded at fair value and maintained as assets when their fair value is positive and as liabilities when their fair value is negative.
    - Derivatives not qualified for hedge accounting but used to manage exposure to market risks, primarily interest rates, currencies, and credit.
    - Derivatives contracted at the request of clients, solely for the purpose of protecting against risks inherent to their economic activities.
  2. Financial Liabilities
  A financial instrument is classified as a financial liability when there is a contractual obligation for its settlement to be made through the delivery of cash or another financial asset, regardless of its legal form.
  Financial liabilities should be classified under the amortized cost category, except for derivative liabilities, which should be classified under the FVTPL category.
  Financial liabilities generated in transactions involving the lending or leasing of financial assets are also exceptions to classification at amortized cost. These must be classified under the FVTPL category.
  In thousands of Reais, unless otherwise stated
  Additionally, financial liabilities arising from the transfer of financial assets, as well as credit commitments and undrawn credit facilities, must be recognized and measured in accordance with specific provisions.
  The main liabilities measured at amortized cost are:
  Customer resources - Consisting of demand deposits, savings deposits, and voluntary term deposits, which are mostly characterized as products without a defined maturity.
  Financial Institution resource (Open Market Funding) - The Bank raises funds through the sale of securities and financial instruments with repurchase agreements, primarily comprising government bonds. Repurchase agreements are considered secured financial transactions and are accounted for at their sale value, plus accrued interest.
  Securities sold under repurchase agreements are not derecognized, as the Bank retains substantially all risks and rewards of ownership. The corresponding cash received, including appropriate interest, is recognized as a liability measured at amortized cost, reflecting the economic substance of the transaction as a debt of the Bank. Open market funding is subdivided into different categories:
  - Proprietary portfolio, which consists of securities with repurchase agreements not linked to resales-that is, the Bank's proprietary portfolio securities linked to the open market.
  - Third-party portfolio, which includes securities acquired with resale commitments and transferred-that is, sold with repurchase agreements.
    The Bank provides financial guarantees to clients in favor of third parties in loan agreements. Financial guarantee contracts require payments to a creditor on behalf of a third-party debtor when the latter fails to make payments in accordance with the terms of the debt instrument.
    After initial recognition, financial guarantees provided are measured at the higher of:
  - The provision for expected credit loss associated with credit risk; and
  - The fair value at initial recognition, less the cumulative amount of recognized revenue.
Derecognition of Financial Instruments
Financial assets - are derecognized when:
- The contractual rights to the related cash flows expire; or
- The asset is transferred, and the transfer qualifies for derecognition.
  Rights and obligations retained in the transfer are recognized separately as assets and liabilities, where appropriate. If control over the asset is retained, the Bank continues to recognize it to the extent of its ongoing involvement, which is determined by the degree to which it remains exposed to changes in the value of the transferred asset.
  A financial asset is derecognized due to expected credit loss when it is unlikely that the Bank will recover its value.
  Financial liabilities - are derecognized when the contractual obligation expires, is settled, canceled, or extinguished.
Financial Instruments for Hedging
The Bank uses derivative instruments to manage exposure to interest rate, foreign exchange, and credit risks, including exposure arising from future transactions and firm commitments. To manage a specific risk, the Bank applies hedge accounting to transactions that meet specific criteria.
At the beginning of the hedge relationship, the Bank formalizes the process through documentation of the relationship between the hedged item and the hedging instrument, including the nature of the risk, the objective, and the strategy for designating the hedge, utilizing derivative financial instruments for this purpose.
Additionally, the Bank continuously determines, evaluates, and monitors the methodology and strategies to assess their effectiveness and ensure they are highly effective-that is, the hedging instruments offset, in the same proportions, the fair value variations attributed to the respective hedged items during the established hedge relationship period, with the objective of mitigating risk factors.
In thousands of Reais, unless otherwise stated
The effectiveness assessment of hedge structures is conducted both prospectively and retrospectively (throughout the operations). For this purpose, certain methodologies are employed, such as:
- Dollar Offset Method (or Ratio Analysis) - Based on the comparison of the fair value variation of the hedging instrument with the fair value variation of the hedged item.
- Correlation coefficient between the present value variation of the hedging instrument and the present value variations of the hedged item.
- Beta coefficient of regression between the regressor (represented by the present value variation of the hedging instrument) and the regressand (represented by the present value variation of the hedged item).
  In risk management, it is expected that hedging instruments and hedged items move in opposite directions and in the same proportions to mitigate risk factors. Currently, the designated coverage ratio is 100% of the risk factor eligible for hedging. Sources of ineffectiveness are generally related to counterparty credit risk, early settlement risk of the hedged item, and potential mismatches in maturity between the hedging instrument and the hedged item.
Expected Credit Losses
The expected credit losses are determined based on internal models, including forward-looking factors that consider the current and future economic situation. The Bank employs a comprehensive methodology with risk parameters to calculate the provision for expected credit losses for most of its financial instruments.
The Bank also observes the provision levels established by current regulations for incurred credit risk losses related to delinquent financial assets (assets with a delay of more than 90 days), without prejudice to the establishment of provisions in amounts sufficient to cover the total expected loss in the realization of these assets. The provision levels for these operations will correspond to the value resulting from the application of the percentages defined in the regulations, considering the delay periods and the defined portfolios, based on the gross carrying amount of the asset.
The model for calculating expected credit losses at the Bank includes the assessment of financial assets in three stages:
Stage 1 - Performing Operations - Assets classified in this stage are considered in normal conditions and that have not incurred a significant increase in credit risk since their origination. This also includes assets with principal or interest payments that are past due by up to 30 days. Upon evaluation, the Bank may include in this stage instruments with delays of up to 60 days, provided there is evidence that there has been no significant increase in credit risk compared to that assessed at initial recognition. In this case, the expected loss is calculated based on the probability that the financial asset will become a credit-impaired financial asset within the next 12 months.
Stage 2 - Assets with Significant Increase in Credit Risk (SICR) - Assets in this stage have delays exceeding 30 days (or 60 days, subject to evaluation) on principal or interest payments or other indicators of a significant increase in credit risk compared to the original assessment. In this case, the expected loss is calculated based on the probability that the instrument will become a credit-impaired asset over its entire expected lifetime.
Stage 3 - Credit-Impaired Assets - Assets classified under this stage are financial instruments with recovery issues, either due to quantitative default (assessed based on the number of days past due-more than 90 days) or qualitative indicators, suggesting that the client will not fully honor the credit operation without relying on guarantees or collateral. Restructured operations are also included in this category. In this case, the expected loss is calculated considering that the instrument qualifies as a credit-impaired asset.
Financial instruments from the same counterparty (non-retail portfolio) are reallocated to Stage 3 when a financial instrument from that counterparty is classified as a credit-impaired asset, on the same reporting date as the balance sheet in which the allocation occurred. However, an exception applies when the financial instrument, due to its nature or purpose, presents a significantly lower credit risk than the instrument from the same counterparty classified as a credit-impaired asset.
The classification stage of assets is periodically reviewed, considering the Bank's risk monitoring processes to capture potential changes in the client's financial capacity. Operations may migrate between stages when the analysis indicates an improvement or deterioration in the credit risk of the transaction. The classification in Stage 3 is only revised when the financial asset is derecognized or when it satisfies the cure criteria.
The Bank uses econometric models, qualitative information, and forward-looking macroeconomic scenarios, developed internally, to estimate expected credit losses. The main macroeconomic variables used as inputs for
In thousands of Reais, unless otherwise stated
projection include Gross Domestic Product (GDP), real Selic rate, exchange rate and the Economic Activity Indicator of the Central Bank (IBC-Br). The final projected values for expected credit losses consider a set of assumptions, different econometric analyses, qualitative assessment, and judgment-based evaluation.
Significant Increase in Credit Risk - A significant increase in credit risk typically encompasses exposures that are more than 30 days past due (or 60 days, subject to evaluation), a significant deterioration in credit risk indicators, or the restructuring of other obligations of the counterparty. Upon identification of SICR relative to initial recognition, the financial asset is reclassified from Stage 1 to Stage 2.
Renegotiated Operations - Instruments arising from agreements that involve modification of the originally agreed conditions of the instrument or replacement of the original financial instrument with another, through partial or full settlement or refinancing of the respective original obligation.
Restructured Operations - Instruments resulting from renegotiations that generally involve significant concessions to the counterparty due to the material deterioration of its credit quality, which would not have been granted if such deterioration had not occurred. This also includes other cases indicating renegotiations with heightened risk.
Non-Compliance with Contractual Payments - Migration to Stage 3 occurs when the asset has been past due for more than 90 days, qualifies as a restructured operation, or meets another qualitative criterion (e.g., bankruptcy, civil insolvency, or judicial recovery). This classification only changes when the asset is written off or meets the cure criterion for the operation.
Expected Loss Calculation - The expected loss calculation performed by the Bank is a probability-weighted estimate of credit losses, and to achieve this result, a combination of three parameters is used:
- Probability of Default (PD)
- Loss Given Default (LGD)
- Exposure at Default (EAD)
  The expected loss calculation employs a measurement technique compatible with the nature and complexity of financial instruments, the size, risk profile, and business model of the institution. It considers forward-looking scenario weighting to anticipate potential increases in loss levels during the worst moments of the economic cycle, providing the necessary inputs for proactive risk and business management.
  The expected loss estimate considers, among other factors:
- Customer characteristics reflected in registration information, delay history, credit limit status, transaction term (Lifetime view), customer segment, and macroeconomic scenario (forward-looking view).
- Financial aspects (time value of money) and the probability of different macroeconomic scenarios.
  The assessment of credit risk and the expected loss associated with credit risk can be conducted collectively, using a model appropriate for portfolio-based credit risk treatment. Financial instruments may be grouped into homogeneous risk groups, meaning they share similar characteristics that allow for collective evaluation and quantification of credit risk, considering at least:
- Credit risk characteristics of the counterparty.
- Credit risk characteristics of the instrument, considering the instrument type, guarantees, or collateral associated with the instrument, when applicable
- Stage in which the instrument is allocated.
- Delay in principal or interest payments.
- Credit risk and stage allocation of other instruments from the same counterparty.
- Other relevant aspects, such as economic sector, geographic location of the counterparty, acquisition or origination period, and instrument maturity, as defined in the institution's credit policy and credit management procedures for retail operations, considering at least: Instrument value; total exposure of the institution to the counterparty; portfolio management conducted on a large-scale basis.
In thousands of Reais, unless otherwise stated
Probability of Default ("PD") - represents the likelihood that a financial instrument will not be honored by the counterparty (default) within the observed time horizon. For financial instruments that have not experienced a significant increase in credit risk, default is assessed over 12 months (PD 12 months). For instruments that have experienced a significant increase in credit risk, classified under Stages 2 and 3, PD is adjusted to reflect default behavior over the maximum contractual period of the asset (PD lifetime). Additionally, PD values are adjusted based on economic scenario weightings to better reflect default behavior in the subsequent reporting period, considering economic and market conditions that impact the credit risk of the instrument (Forward-Looking approach).
Loss Given Default ("LGD") - LGD is an estimate based on the historical accounting losses observed, weighted by the default rates of different portfolios. It represents the proportion of the value not recovered by the creditor relative to the amount exposed to risk at the time of default.
LGD is constructed based on statistical information and operational characteristics, including: recovery costs associated with the financial instrument, potential guarantees or collateral linked to the instrument, historical recovery rates for financial instruments with similar characteristics and credit risk, concessions granted to the counterparty.
Exposure at Default ("EAD") - EAD represents the estimated exposure of the transaction (base balance) in the event that the client enters a default situation. For credit facilities, this exposure may be effective (portion of the limit already utilized) and/or contingent (portion of the limit available but not yet used). In the case of non-cancelable unilateral limits, the Bank applies the Credit Conversion Factor (CCF) methodology, which is an estimate based on historical observations of limit utilization up to the moment of potential default, allowing for a projection of the balance that will be used by the client when default occurs.
The provision for expected credit losses is determined based on the risk expectation of contracts with similar characteristics (risk groupings, products, economic sector, and potential guarantees involved) and the estimate of future losses. The Bank's perspective on current and future economic conditions is incorporated into the credit loss estimate through the application of weighted macroeconomic scenarios.
Provision Levels for Credit Risk-Related Losses - The Bank observes the provision levels established by current regulations for losses incurred associated with credit risk for defaulted financial assets (assets with delays exceeding 90 days). This does not exempt the institution from its responsibility to establish provisions in amounts sufficient to cover the total expected loss upon realization of these assets. The records for incurred loss provisions (ILP) and expected loss provisions (ELP) are maintained separately.
The Bank occasionally conducts individualized analyses to assess credit risk in certain exposures monitored by management. These assessments consider relevant expert knowledge, based on financial indicators and qualitative aspects of companies, the business environment, and financial instruments.
The Bank calculates expected credit losses for off-balance exposures, such as financial guarantees issued and irrevocable loan commitments and undrawn credit facilities. In these cases, the Bank assesses the expected utilization of these balances by the borrower. A provision account is created in liabilities, with the corresponding entry recognized in the period's financial results.
Non-accrual of Interest
The Bank does not recognize in the statement of income, any revenue not yet received related to financial assets with credit recovery problems (stage 3), that is, when they are more than 90 days overdue in the payment of principal or interest, or indicates that the respective obligation will not be fully honored under the agreed conditions, without the need to resort to guarantees or collateral.
In thousands of Reais, unless otherwise stated
Taxes

Taxes are calculated based on the rates shown in the table below:

Taxes	Rate
Income tax (15.00% + additional 10.00%)	25.00%
Social Contribution on Net Income - CSLL 1	20.00%
Social Integration Program/Public servant fund program(PIS/Pasep) 2	0.65%
Contribution to Social Security Financing - (Cofins) 2	4.00%
Tax on services of any kind - (ISSQN)	Up to 5.00%

- Rate applied to banks, whereas, for other financial companies and non-financial companies in the areas of insurance, pension and capitalization sectors, the rate is 15%. For others non-financial companies, the CSLL rate is 9%.
- For non-financial firms that have opted for the non-cumulative regime of calculation, the PIS/PASEP rate is 1.65% and the Cofins rate is 7.6%.
Deferred tax assets and liabilities are established by applying current tax rates to their respective bases. The recognition, maintenance, and derecognition of deferred tax assets follow the criteria set forth in Resolution CMN No. 4.842/2020, supported by a realization capacity study.
In accordance with Article 6 of Law No. 14,467/2022 and the Bank's definition, losses determined as of January 1, 2025, relating to receivables that were in default as of December 31, 2024, which had not been deducted up to that date and have not been recovered, may only be excluded from net income, for the purposes of determining taxable income (lucro real) and the Social Contribution on Net Profit (CSLL) calculation basis, at a rate of 1/120 (one one-hundred-and-twentieth) per month of the reporting period, starting from January 2026.
Losses incurred under Article 2 of Law No. 14.467/2022, related to fiscal year 2025, could not be deducted in an amount exceeding the taxable income of the fiscal year, before accounting for this deduction. Any undeducted losses were added to the balance of losses determined on January 1, 2025, and excluded from net income at the same rate and within the same timeframe, in accordance with the option permitted by the law.
1. Investments, property, plant and equipment and intangible assets
  Investments: investments in subsidiaries, associates and joint ventures in which the Bank has significant influence or an ownership interest of 20% or more of the voting shares, and in other companies which are part of a group or are under common control are accounted for by the equity method based on the Shareholders' equity of the subsidiaries, associates and joint ventures.
  The cash flows related to dividends and interest on equity received are presented separately in the statement of cash flows, being consistently classified, from period to period, as arising from investment activities.
  In the consolidated financial statements, the subsidiaries are fully consolidated, and the associates and joint ventures are accounted under the equity method.
  Property and equipment: property and equipment are stated at acquisition cost less the impairment losses and depreciation, calculated using the straight-line method of the useful life of the asset. Depreciation of property and equipment in use is recorded in Other administrative expenses account.
  Intangible: intangible assets consist of rights over intangible assets used in the running of the Bank, including acquired goodwill.
  An asset meets the criteria for identification as an intangible asset, when it is separable, i.e, it can be separated from the entity and sold, transferred or licensed, rented or exchanged, individually or jointly with a contract, related assets or liabilities, regardless of the intention for use by the entity; or results from contractual rights or other legal rights, regardless of whether these rights are transferable or separable from the entity or other rights and obligations.
  Goodwill based on expected future profitability is amortized against the income for the period, in accordance with the annual income projections contained in the economic-financial studies that supported the purchase price of the businesses and is annually tested for impairment.
  In thousands of Reais, unless otherwise stated
  The other intangible assets with finite useful lives comprise: disbursements for the acquisition of rights to provide banking services (rights to managing payrolls), amortized over the terms of contracts; software, amortized on a straight-line basis by the useful life from the date it is available for use. Intangible assets are adjusted for impairment losses, if applicable. The amortization of intangible assets is recorded in Other administrative expenses account.
2. Impairment of non-financial assets
  Non-financial assets are reviewed to see if there is any indication that they may have depreciated, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
  If there is any indication of devaluation, the Bank estimates the asset's recoverable value, which is the higher of its fair value, less costs to sell it, and its value in use.
  If the recoverable amount of the asset is less than its carrying amount, the asset's carrying amount is reduced to its recoverable amount through a provision for impairment, which is recognized in the Income statement.
  Methodologies in assessing the recoverable amount of the main non-financial:
  Property and equipment in use
  Land and buildings - To determine the recoverable amounts of land and buildings, data from market indices, statistical tests based on data from sales of owned properties and technical evaluations are used in accordance with the rules of the Brazilian Association of Technical Standards - ABNT.
  Data processing equipment - when available, the Bank uses market values to determine the recoverable amount of relevant data processing equipment, considering market rates for similar goods, substitutes or the same type of goods, based on internal or external sources. If Banco do Brasil cannot obtain reliable data to estimate the market price, the Bank the Bank assesses whether the expected benefits from the use of these assets still justify its best recovery value, qualifying the information that justifies this analysis.
  Other items of property and equipment - these items are individually insignificant or fully depreciated. Although subject to evaluation of impairment indicators, the Bank does not determine their recoverable amount on an individual basis due to cost benefit considerations. However, the Bank controls these assets through a systematized register and conducts an annual inventory count and writes off assets that are lost or showing signs of deterioration.
  Intangible
  Rights due to the acquisition of payrolls - the recoverability of acquired payroll contracts is determined based on the contribution margin of the client relationships generated under each contract. The objective is to determine if the projections that justified the initial acquisition correspond to actual performance. An impairment loss is recognized on underperforming contracts.
  Software - the Bank continuously invests in the modernization and adequacy of its internally developed software to accompany new technologies and meet the demands of the business. Since there is no similar software in the market, and because of the significant cost associated with developing models to calculate value in use, the Bank evaluates the ongoing utility of its software to test for impairment that consists of evaluating its usefulness for the Bank so that whenever a software goes out of use its value is written off.
  The losses recorded in the Statement of Income to adjust the recoverable value of these assets, if any, are stated in the respective notes.
  Investments and goodwill on the acquisition of investments
  The methodology for determining the recoverable amount of investments and goodwill based on expected future profitability consists of measuring the expected result of the investment through discounted cash flows. To measure this result, the assumptions adopted are based on i) projections of the Banks' operations, results and investment plans; ii) macroeconomic scenarios developed by the Bank; and iii) internal methodology for calculating the cost of capital based on the Capital Asset Pricing Model - CAPM.
  In thousands of Reais, unless otherwise stated
3. Lease Operations - Bank as Lessee
  The Bank has operating lease agreements, which, according to current regulations, are classified as follows:
  Right-of-Use Assets - These primarily refer to rental contracts for properties used in administrative and banking operations arising from operating lease agreements. Generally, these contracts are structured under standard market conditions and terms, including renewal options and annual rent adjustment clauses, using official inflation indices as the main adjustment parameters.
  Lease Liabilities - Lease liabilities arise from the right-of-use assets mentioned above and represent the amount to be disbursed for lease installments, discounted by an interest rate equivalent to what the lessee would pay if borrowing the necessary funds to acquire a similar right-of-use asset, considering a similar economic environment, term, and collateral. The Bank applied the incremental borrowing rate, which represents the cost of its institutional funding, equivalent to a Subordinated Financial Note. Unified discount rates were used, considering a portfolio of similar terms and contracts.
  Contractually defined installments are projected until their completion. Variable payments, linked to indices, are remeasured upon changes in installment value, occurring during annual adjustments on contract anniversary dates. The clauses do not impose any restrictions on the Bank regarding dividend payments, debt contracting, or entering into additional lease agreements.
  Interest expenses related to lease liabilities are disclosed in Note 26. Note 15 presents the changes of right-of-use assets. Total cash outflows for leases are presented in the Statement of Cash Flows.
  In addition to the properties mentioned above, the other leased items primarily consist of equipment, with contract durations of up to 12 months. For these items, the practical expedient was applied, recognizing them as expenses on a straight-line basis over the lease term. Expenses related to these short-term leases are disclosed in Note 26.
  Bank as Lessor: In its capacity as a lessor, the Bank enters into finance lease arrangements through its subsidiaries.
4. Employee benefits
  Employee benefits related to short-term benefits for current employees are recognized on an accrual basis as the services are provided. Post-employment benefits, comprising supplementary retirement benefits and medical assistance for which the Bank is responsible, are assessed in accordance with criteria established by CPC 33 (R1) -Employee benefits, approved by CVM Resolution 110/2022 and by the CMN Resolution 4,877/2020. The evaluations are carried out at least every six months or less when applicable.
  In defined-contribution plans, the actuarial risk and the investment risk are borne by the plan participants. Accordingly, cost accounting is based on each period's contribution amount representing the Bank's obligation. Consequently, no actuarial calculation is required when measuring the obligation or expense, and there are neither actuarial gains nor losses.
  In defined benefit plans, the actuarial risk and the investment risk value of plan assets fall substantially on the sponsoring entity. Accordingly, cost accounting requires the measurement of plan obligations and expenses, with a possibility of actuarial gains and losses, leading to recording a liability when the amount of the actuarial obligation exceeds the value of plan assets, or an asset when the amount of assets exceeds the value of plan obligations. In the latter instance, the asset should be recorded only when there is evidence that it can effectively reduce the contributions from the sponsor or will be refundable in the future.
  The Bank recognizes the components of defined benefit cost in the period in which the actuarial valuation was performed, in accordance with criteria established by CPC 33 (R1), as follows:
  - the current service cost and the net interest on the net defined benefit liability (asset) are recognized in profit or loss; and
  - the remeasurements of the net defined benefit liability (asset) resulting from changes in actuarial assumptions are recognized in Accumulated other comprehensive income in Shareholders' equity, net of tax effects. And, according to the normative provision, these effects recognized directly in equity should not be reclassified to the result in subsequent periods.
    In thousands of Reais, unless otherwise stated
    Contributions to be paid by the Bank to medical assistance plans in some cases will continue after the employee's retirement. Therefore, the Bank's obligations are evaluated by the present actuarial value of the contributions to be paid over the expected period in which the plan participants and beneficiaries will be covered by the plan. Such obligations are evaluated and recognized under the same criteria used for defined benefit plans.
5. Provisions, Contingent Assets, and Contingent Liabilities
  The Bank recognizes provisions when the following conditions are met:
  - The Bank has a present obligation (legal or constructive) as a result of past events.
  - It is probable that an outflow of economic benefits will be required to settle the obligation.
  - The amount of the obligation can be reliably measured. Provisions are established based on the best estimate of probable losses.
    The Bank continuously monitors ongoing legal proceedings to assess, among other factors:
  - Their nature and complexity.
  - The progress of the cases.
  - The opinion of the Bank's legal advisors.
  - The Bank's experience with similar cases.
    When assessing whether a loss is probable, the Bank considers:
  - The likelihood of loss arising from claims that occurred before or on the balance sheet date but were identified after that date, yet before the financial statements are issued.
  - The need to disclose claims or events that occur after the balance sheet date but before the financial statements are issued.
    Non-contractual liabilities, mainly comprising provisions for legal proceedings, are measured at present value when the impact of discounting is material, based on the best estimate of the expected cash outflows required to settle the obligation.
    Contingent assets are not recognized in financial statements. However, when there is evidence supporting their realization, typically represented by final court rulings and confirmation of their recoverability through receipt or offsetting against another payable, they are recognized as assets.
6. Assets Held for Sale
  Investments Held for Sale
  These refer to investments in associates, subsidiaries, and jointly controlled entities that the Bank intends to realize through sale, are available for immediate sale, and whose disposal is highly probable. Once the Bank decides to sell them, these assets are measured at the lower of:
  - Carrying amount value, net of provisions for impairment losses.
  - Fair value, assessed in accordance with specific regulations, net of selling expenses.
    Any difference between the carrying amount value of the asset and its fair value net of selling expenses is
    recognized in the period's financial results.
    Non-Financial Assets Held for Sale
    These are assets not covered under the concept of financial assets, as per specific regulations. They primarily refer to non-operational properties received in settlement of credit operations that are difficult or doubtful to resolve.
    These assets are initially recognized in the appropriate accounting classifications, based on the expected sale period, at the date of receipt by the Bank. They are valued at the lower of:
  - Gross book value of the respective credit operation classified as difficult or doubtful to resolve.
  - Fair value of the asset, assessed in accordance with specific regulations, net of selling expenses.
    Any difference between the carrying amount of the respective financial instrument classified as difficult or
    doubtful to resolve, net of provisions, and its fair value is recognized in the period's financial results.
    In thousands of Reais, unless otherwise stated
7. Other Assets and Liabilities
  Other assets are presented at their realizable values, including, when applicable, income and monetary and exchange rate variations accrued on a pro rata die basis, as well as provision for loss when deemed necessary.
  Other liabilities are presented at known and measurable values, increased, when applicable, by interest and monetary and exchange rate variations incurred on a pro rata die basis.
8. Earnings per Share (EPS)
  The calculation of earnings per share is performed in two ways:
  - Basic EPS - Calculated by dividing the net income attributable to controlling shareholders by the weighted average number of ordinary shares outstanding during each reporting period.
  - Diluted EPS - Calculated by dividing the net income attributable to controlling shareholders by the weighted average number of ordinary shares outstanding, adjusted to reflect the effect of all potentially dilutive ordinary shares.
9. Foreign Currency Transactions Conversion
  Functional and Presentation Currency: The individual and consolidated financial statements are presented in Brazilian Reais (BRL), which is the functional and presentation currency of the Bank. The functional currency, which is the currency of the primary economic environment in which an entity operates, is BRL for all Group entities, except for Banco do Brasil Americas and Banco Patagonia.
  The financial statements of foreign branches and subsidiaries follow Brazilian accounting standards and are converted to BRL before applying the equity method, as established by Resolution CMN No. 4.817/2020.
  Foreign investments that have Brazilian Real (BRL) as their functional currency have their financial statements converted based on the daily balances of each accounting item, considering the daily exchange rate fluctuations, with their effects recognized in the investee's financial results.
  For foreign investments with a functional currency different from Brazilian Real (BRL), assets and liabilities are converted using the exchange rate on the date of the respective trial balance or balance sheet, while revenues and expenses are converted using the average exchange rate for the period. Their effects are recognized in Other Comprehensive Income (OCI) within the shareholders' Equity.
10. Non-Recurring Results
  As defined by Resolution BCB No. 2/2020, non-recurring results are those that are not related or are only incidentally related to the Bank's typical activities and are not expected to occur frequently in future periods. Information on recurring and non-recurring results is presented in Note 33.
11. Service Fee Income

Service and banking fee income is recognized when services are rendered or made available to customers, in an amount that reflects the consideration the Bank expects to be entitled to, in accordance with the satisfaction of the related performance obligations. Revenue from services provided over time is recognized on a straight-line basis over the term of the contracts, whereas revenue related to distinct services or specific events is recognized at the point in time when the service is performed or the event occurs.

In this context, the Bank's main contract portfolios relate to the following services: Fund management; commissions on insurance, pension plans and capitalization; account fee; Consortium management fees; Card income; Billing; e collections.

Accordingly, the related performance obligations generally comprise, respectively: enabling the movement of funds through deposits, checks, withdrawals, payment orders and/or transfers; enabling the purchase of goods and services at accredited merchants, as well as cash withdrawals in domestic and foreign currencies; receiving funds through the settlement of payment slips that may be paid at any bank; managing assets invested in investment funds; executing securities transactions in stock exchanges; and collecting taxes and other revenues on behalf of public sector entities.

In thousands of Reais, unless otherwise stated

‌4 - Significant Judgments and accounting estimates

The preparation of these individual and consolidated financial statements requires the application of certain relevant assumptions and judgments that involve a high degree of uncertainty and that may have a material impact on these financial statements. Accordingly, it requires Management to make judgments and use estimates that affect the recognized amounts of assets, liabilities, income and expenses. These adopted estimates and assumptions are reviewed on an ongoing basis, with the revisions recognized in the period in which the estimate is reassessed, with prospective effects. It should be noted that actual results may differ from these estimates.

Significant classes of assets and liabilities subject to estimates and the use of assumptions cover items for which fair value valuation is required. The following components of the consolidated financial statements require the highest degree of judgment and use of estimates:

Allowance for losses associated with credit risk
The Bank periodically reviews the composition of its financial instruments portfolio to assess whether expected losses should be recognized. The portfolio assessment process involves estimates and judgments. This process includes observing factors that indicate a change in the customer's risk profile, the credit instrument and the quality of the collateral that result in a reduction in the estimated income of future cash flows.
To support losses deriving from the possible need to honor obligations not recorded on the balance sheet (off-balance), the Bank establishes a provision for expected losses, for non-cancellable credit commitments and credits to be released, as well as for financial guarantees provided, with this amount being recognized as a liability against the result of the period.
The expected loss seeks to identify deficits that will occur in the next 12 months or that will occur during the life of the operation, considering a prospective view and encompassing the evaluation of financial instruments in 3 stages, while being subject to quantitative and qualitative analyses for the appropriate classification.
The classification stage is systematically reviewed considering the Bank's risk-sensing processes, in order to capture changes in the instruments' characteristics and their guarantees and in the customer's behavioral information, which result in an increase or decrease in credit risk, carried out through prospective economic scenarios. These estimates are based on assumptions of a series of factors and, for this reason, the actual results may vary, generating future reinforcements or reversals of losses.
Further information on the calculation methodology and assumptions used by the Bank to assess losses associated with credit risk, as well as the quantitative amounts recorded as expected losses associated with credit risk, can be found in Notes 3.f, 9, 10, 12, 13 and 31.
Impairment of non-financial assets
At each reporting date, based on internal and external sources of information, the Bank determines if there are any indicators that a non-financial asset may be impaired. If an indicator does exist, the Bank calculates the asset's recoverable amount, which is the highest of: (i) its fair value less costs to sell it; and (ii) its value in use.
Regardless of any indicator of impairment, the Bank tests the recoverable value of Intangible assets not yet available for use and of goodwill in the acquisition of investments, at least annually, always at the same period.
If the asset's recoverable amount is less than its carrying amount, the carrying amount is reduced to its recoverable amount by recording an impairment loss.
Determining the recoverable amount of non-financial assets requires Management to exercise judgment and make assumptions. These estimates are based on market prices, present value calculations, other pricing techniques, or a combination of these methods.
In thousands of Reais, unless otherwise stated
Income taxes
Income and gains generated by the Bank are subject to income taxes in the jurisdictions in which the Bank operates. The determination of income taxes requires interpretation of laws and the use of estimates. In the ordinary course of business, the final amount of income tax payable is uncertain for many different types of transactions and calculations. In these cases, the use of different interpretations and estimates may have resulted in different tax amounts being recorded.
Brazilian tax authorities can review the calculations made by the Bank and its subsidiaries for up to five years subsequent to the date on which a tax becomes due. During this process, the tax authorities may question the procedures adopted by the Bank, mainly with respect to the interpretation of tax legislation. However, Management believe that no significant adjustments will be required to the income tax recorded in these financial statements.
Recognition and assessment of deferred taxes
Deferred tax assets are calculated on temporary differences and tax loss carryforwards. They are only recognized when the Bank expects to generate sufficient taxable income in the future to realize the amounts. The expected realization of the Bank's deferred tax assets is based on projections of future income and technical analyses in line with current tax legislation
The Bank reviews the estimates involved in the recognition and valuation of deferred tax assets based on current expectations and projections about future events and trends. The most important assumptions affecting these estimates relate to:
1. changes in the amounts deposited, delinquencies and customer base;
2. changes in tax law;
3. changes in interest rates;
4. changes in inflation rates;
5. legal claims with an adverse impact on the Bank;
6. credit, market and other risks associated with lending and investing activities;
7. changes in the fair value of Brazilian securities, especially Brazilian government securities; and
8. changes in domestic and global economic conditions.
Pensions and other employee benefits
The Bank sponsors defined contribution and defined benefit pension plans, accounted for in accordance with CPC 33 (R1). Actuarial valuations for defined benefit plans are based on a series of assumptions, including:
1. interest rates;
2. mortality tables;
3. annual rate applied to the revision of retirement benefits;
4. inflation index;
5. annual salary adjustment; and
6. method used to calculate vested benefit obligations for active employees. Changes in these assumptions can have a significant impact on the amounts determined.
Provisions, contingent assets and liabilities

The recognition, measurement and disclosure of provisions, contingent assets and liabilities and legal obligations are carried out in accordance with the criteria defined by CPC 25.

Contingent assets are not recognized in the financial statements, however, they are recognized as assets when there is evidence assuring their realization, usually represented by the final judgment of the lawsuit and by the confirmation of the capacity for its recovery by receipt or offsetting by another receivable.

Contingent liabilities are recognized in the financial statements when, based on the opinion of the Bank's legal advisor and Management, the risk of loss of legal or administrative proceedings is considered probable, with a probable outflow of financial resource for the settlement of the obligation and when the amounts involved are measurable with sufficient assurance, being quantified when judicial noticed and revised monthly as follows:

In thousands of Reais, unless otherwise stated

Aggregated Method: cases that are similar and recurring in nature and whose values are not considered individually significant. Provisions are based on statistical data. It covers civil or labor judicial proceedings (except labor claims filed by trade unions and all proceedings classified as strategic) with probable value of award, estimated by legal advisors, up to R$ 1 million. The aggregated method covers all processes, regardless of the assessment carried out by the legal advisors.

Individual Method: cases considered unusual or whose value is considered relevant by our legal advisor. Provisions are based on the amount claimed; probability of an unfavorable decision; evidence presented; evaluation of legal precedents; other facts raised during the process; judicial decisions made during the course of the case; and the classification and the risk of loss of legal actions.

Contingent liabilities subject to individual method considered as possible losses are not recognized in the financial statements, they are disclosed in notes, while those classified as remote do not require any provision or disclosure.

In thousands of Reais, unless otherwise stated

‌5 - Acquisitions, disposals and corporate restructuring

There were no relevant acquisitions, disposals or corporate restructurings during the period.

In thousands of Reais, unless otherwise stated

‌6 - Information by segment

Segment information was prepared based on the criteria adopted by the Board of Directors for performance assessment and for decision-making regarding the allocation of resources for investment and other purposes. The framework also considers the regulatory environment and the similarities between goods and services. The information was prepared based on internal management reports (Management Information), reviewed regularly by Management.

The Bank operates primarily in Brazil, divided mainly into five segments: banking, investments, fund management, insurance (insurance, pension and capitalization) and payment methods. The Bank also engages in other activities, including consortium business and other services aggregated in "Other Segments".

The measurement of managerial income and of managerial assets and liabilities by segment takes into account all income and expenses as well as all assets and liabilities recorded by the Bank's entities (Note 2). There were no common income or expenses nor common assets or liabilities allocated between the segments, for any distribution criteria.

Transactions between segments were eliminated in the column "Intersegment transactions". They were conducted at the same terms and conditions as those practiced with unrelated parties for similar transactions. These transactions do not involve any unusual payment risks.

None of the Bank's customers individually account for more than 10% of the Bank's income.

Banking segment
Result generated predominantly in Brazil, derived from a diversified portfolio of products and services, including deposits, loans and services provided to customers through different distribution channels, located in the domestic market and abroad.
The banking segment includes business with the retail, wholesale and public sectors, which were carried out by the Bank's network and customer service teams. It also engages in businesses with micro-entrepreneurs and the informal sector, undertaken through banking correspondents.
Investments segment
This segment is responsible for operations in the domestic capital markets, acting on intermediation and distribution of debts in the primary and secondary markets, as well as being responsible for equity investments and the rendering of some financial services.
The income from financial intermediation of this segment is the accrued interest on securities investments net of interest expenses from third party funding costs. The principal equity investments were those in associates, subsidiary companies and joint ventures. Financial service fee income derives from economic/financial advisory services and the underwriting of fixed and variable income.
Fund management segment
This segment comprises purchase, sale and custody of securities, portfolio management, and management of investment funds and clubs. Income consists mainly of commissions and management fees for services charged to investors.
Insurance, pension and capitalization segment
In this segment, products and services offered are related to life, property and automobile insurance, private pension and capitalization plans.
The income is primarily derived from revenues from written insurance premiums, pension plan contributions, capitalization bonds, and investments in securities, net of selling expenses, technical provisions, and expenses related to benefits and redemptions.
Payment method segment
This segment comprises funding, transmission, processing and settlement of operations via electronic means.
Revenues are mainly from commissions and management fees charged to businesses and financial institutions for the services rendered, as well as income from rent, installation and maintenance of electronic terminals.
In thousands of Reais, unless otherwise stated
Other segments
Other segments comprise the consortium management and other services segments, which have been aggregated as they were not individually significant.
Their revenues are originated mainly from rendering services not covered in previous segments, such as: credit recovery; consortium management; development, manufacturing, sale, lease and integration of digital electronic systems and equipment, peripherals, programs, inputs and computing supplies.

Information of external customers by geographic region

	01/01 to 03/31/2026		01/01 to 03/31/2025
	Brazil	Abroad	Brazil	Abroad
Income from external customers	84,519,149	5,026,637	73,021,133	2,468,035

Income from financial intermediation	70,598,623	4,472,485	60,040,321	1,879,111
Loan portfolio	40,284,081	2,716,140	37,328,918	(176,118)
Interbank investments	5,561,649	490,522	7,660,799	562,019
Securities	22,931,611	1,319,501	13,574,531	1,664,037
Derivative financial instruments	(966,880)	(53,620)	(1,144,831)	(54,616)
Reserve requirement	2,623,582	--	2,036,017	--
Other financial assets	164,580	(58)	584,887	(116,211)

Other income	13,920,526	554,152	12,980,812	588,924
Service fee income	8,458,674	362,605	7,949,618	411,852
Share of earnings (losses) of associates and joint ventures	1,793,243	--	1,758,903	--
Other	3,668,609	191,547	3,272,291	177,072

Non current assets¹	49,907,565	348,161	42,282,517	266,818

1 - Except for financial instruments, deferred tax assets and post-employment benefit assets.

Revenues from abroad were mainly obtained by operations held by branches in South America.

In thousands of Reais, unless otherwise stated

Breakdown of managerial income by segment and reconciliation with accounting income

	01/01 to 03/31/2026
	Managerial Information by Segment
	Banking	Investments	Fund Management	Insurance, pension and capitalization	Payment methods	Other segments	Intersegment transactions	Consolidated
Income from financial intermediation	74,970,118	38,590	120,240	62,852	113,173	260,433	(494,298)	75,071,108
Loan portfolio	43,003,294	--	--	--	--	--	(3,073)	43,000,221
Interbank investments	6,113,085	245	89,185	--	95,462	227,878	(473,684)	6,052,171
Securities	24,096,765	27,483	31,168	62,852	17,830	32,555	(17,541)	24,251,112
Derivative financial instruments	(1,031,362)	10,862	--	--	--	--	--	(1,020,500)
Reserve requirement	2,623,582	--	--	--	--	--	--	2,623,582
Other financial assets	164,754	--	(113)	--	(119)	--	--	164,522

Expenses from financial intermediation	(50,752,872)	(87,320)	--	--	--	(179,937)	776,488	(50,243,641)
Financial institutions resources	(24,043,938)	(87,320)	--	--	--	(3)	758,947	(23,372,314)
Customers resources	(18,987,416)	--	--	--	--	--	--	(18,987,416)
Resources from issuance of debt securities	(9,291,183)	--	--	--	--	(162,393)	--	(9,453,576)
Other funding expenses	1,569,665	--	--	--	--	(17,541)	17,541	1,569,665

Expected credit risk losses	(16,799,785)	315	--	--	--	(43,684)	--	(16,843,154)

Other income	9,284,036	172,234	1,069,356	2,946,501	369,471	1,920,724	(1,287,644)	14,474,678
Service fee income	5,309,261	79,396	1,067,168	1,419,949	11,504	1,500,796	(566,795)	8,821,279
Share of earnings (losses) of associates and joint ventures	253,687	1,400	--	1,231,909	306,247	--	--	1,793,243
Other	3,721,088	91,438	2,188	294,643	51,720	419,928	(720,849)	3,860,156

Other expenses	(16,847,350)	(100,239)	(212,602)	(400,091)	(76,821)	(997,070)	1,005,454	(17,628,719)
Personnel expenses	(6,548,781)	(10,636)	(42,412)	(23,752)	(893)	(157,126)	1,757	(6,781,843)
Other administrative expenses	(2,670,208)	(7,879)	(23,496)	(16,722)	(272)	(105,330)	558,544	(2,265,363)
Amortization	(718,520)	--	--	(31)	--	(1,139)	--	(719,690)
Depreciation	(714,915)	--	--	--	--	(26,221)	--	(741,136)
Tax expenses	(1,831,856)	(8,575)	(76,952)	(183,857)	(10,427)	(219,255)	--	(2,330,922)
Other	(4,363,070)	(73,149)	(69,742)	(175,729)	(65,229)	(487,999)	445,153	(4,789,765)

Provisions	(2,642,308)	(5,104)	21,931	287	(29)	(6,766)	--	(2,631,989)
Provisions for civil, tax and labor claims	(2,636,074)	(5,104)	21,931	287	(29)	(6,766)	--	(2,625,755)
Other	(6,234)	--	--	--	--	--	--	(6,234)

Profit before taxation and profit sharing	(2,788,161)	18,476	998,925	2,609,549	405,794	953,700	--	2,198,283
Income tax and social contribution	3,301,519	(7,031)	(398,143)	(465,616)	(31,716)	(299,714)	--	2,099,299
Employee and directors profit sharing	(400,046)	(379)	(858)	--	--	(3,132)	--	(404,415)
Non-controlling interest	(123,590)	--	--	(680,585)	--	1,012	--	(803,163)

Net income	(10,278)	11,066	599,924	1,463,348	374,078	651,866	--	3,090,004

Balance sheet
Interbank investments	301,912,778	--	1,840,516	6,068,871	1,013,043	8,089,281	(20,623,093)	298,301,396
Securities	746,780,049	2,537,891	587,386	1,414,518	505,086	866,417	(626,455)	752,064,892
Loan portfolio	1,235,386,236	--	--	--	--	--	(82,093)	1,235,304,143
Investments	30,818,248	1,166,229	--	8,052,020	5,175,316	--	(24,758,813)	20,453,000
Other assets	288,410,119	1,781,395	591,288	3,506,657	3,870,019	7,783,875	(5,873,030)	300,070,323
Total assets	2,603,307,430	5,485,515	3,019,190	19,042,066	10,563,464	16,739,573	(51,963,484)	2,606,193,754

Liabilities	2,413,851,579	4,706,042	990,049	6,961,987	259,087	13,205,090	(28,720,004)	2,411,253,830
Customers resources	935,070,720	--	--	--	--	--	(93,711)	934,977,009
Financial institutions resources	880,261,116	3,934,834	--	--	--	82,093	(20,705,186)	863,572,857
Resources from issuance of debt securities	295,815,751	--	--	--	--	8,581,389	(504,569)	303,892,571
Provisions	36,983,367	157,327	14,970	56,786	671	435,524	(1,185)	37,647,460
Other liabilities	265,720,625	613,881	975,079	6,905,201	258,416	4,106,084	(7,415,353)	271,163,933
Shareholders' equity	189,455,851	779,473	2,029,141	12,080,079	10,304,377	3,534,483	(23,243,480)	194,939,924
Total liabilities and equity	2,603,307,430	5,485,515	3,019,190	19,042,066	10,563,464	16,739,573	(51,963,484)	2,606,193,754

In thousands of Reais, unless otherwise stated

	01/01 to 03/31/2025
	Managerial Information by Segment
	Banking	Investments	Fund Management	Insurance, pension and capitalization	Payment methods	Other segments	Intersegment transactions	Consolidated
Income from financial intermediation	61,744,890	171,415	87,311	54,178	129,750	190,003	(458,115)	61,919,432
Loan portfolio	37,156,110	--	--	--	--	--	(3,310)	37,152,800
Interbank investments	8,274,596	159	80,600	--	129,546	192,722	(454,805)	8,222,818
Securities	15,003,149	176,789	6,967	54,178	204	(2,719)	--	15,238,568
Derivative financial instruments	(1,193,914)	(5,533)	--	--	--	--	--	(1,199,447)
Reserve requirement	2,036,017	--	--	--	--	--	--	2,036,017
Other financial assets	468,932	--	(256)	--	--	--	--	468,676

Expenses from financial intermediation	(37,732,022)	(51,798)	--	--	--	(185,121)	653,943	(37,314,998)
Financial institutions resources	(14,758,657)	(51,798)	--	--	--	--	653,943	(14,156,512)
Customers resources	(16,610,045)	--	--	--	--	--	--	(16,610,045)
Resources from issuance of debt securities	(8,478,868)	--	--	--	--	(185,121)	--	(8,663,989)
Other funding expenses	2,115,548	--	--	--	--	--	--	2,115,548

Expected credit risk losses	(11,424,386)	(23,582)	--	--	--	(38,709)	--	(11,486,677)

Other income	8,609,722	152,639	978,696	2,718,469	452,830	1,693,688	(1,036,308)	13,569,736
Service fee income	5,029,438	103,869	975,670	1,400,921	11,131	1,297,393	(456,952)	8,361,470
Share of earnings (losses) of associates and joint ventures	266,412	(7,538)	--	1,109,080	390,949	--	--	1,758,903
Other	3,313,872	56,308	3,026	208,468	50,750	396,295	(579,356)	3,449,363

Other expenses	(15,340,787)	(49,980)	(160,832)	(358,397)	(63,085)	(896,058)	840,480	(16,028,659)
Personnel expenses	(6,093,596)	(9,741)	(39,080)	(22,204)	(1,199)	(157,994)	1,639	(6,322,175)
Other administrative expenses	(2,829,754)	(12,242)	(21,281)	(36,483)	(269)	(125,214)	465,884	(2,559,359)
Amortization	(636,759)	--	--	(29)	--	(1,083)	--	(637,871)
Depreciation	(412,969)	--	--	--	--	(21,146)	--	(434,115)
Tax expenses	(1,719,149)	(16,072)	(69,083)	(177,695)	(11,269)	(180,155)	--	(2,173,423)
Other	(3,648,560)	(11,925)	(31,388)	(121,986)	(50,348)	(410,466)	372,957	(3,901,716)

Provisions	(2,829,245)	(4,100)	(661)	(1,241)	(5)	(3,108)	--	(2,838,360)
Provisions for civil, tax and labor claims	(2,817,798)	(4,100)	(661)	(1,241)	(5)	(3,108)	--	(2,826,913)
Other	(11,447)	--	--	--	--	--	--	(11,447)

Profit before taxation and profit sharing	3,028,172	194,594	904,514	2,413,009	519,490	760,695	--	7,820,474
Income tax and social contribution	1,767,398	(88,574)	(360,985)	(443,880)	(41,798)	(241,746)	--	590,415
Employee and directors profit sharing	(865,457)	--	(848)	(582)	--	(2,410)	--	(869,297)
Non-controlling interest	(142,731)	--	--	(624,884)	--	(1,912)	--	(769,527)

Net income	3,787,382	106,020	542,681	1,343,663	477,692	514,627	--	6,772,065

Balance sheet
Interbank investments	365,504,728	--	1,781,598	4,906,047	2,808,847	8,135,181	(19,575,564)	363,560,837
Securities	519,795,738	1,375,661	514,786	1,840,732	713	820,628	(774,674)	523,573,584
Loan portfolio	1,140,614,951	--	--	--	--	--	(189,585)	1,140,425,366
Investments	26,814,010	1,093,228	--	7,738,923	3,664,201	--	(20,832,823)	18,477,539
Other assets	363,415,245	1,389,978	488,033	3,387,140	3,986,494	9,011,798	(6,724,034)	374,954,654
Total assets	2,416,144,672	3,858,867	2,784,417	17,872,842	10,460,255	17,967,607	(48,096,680)	2,420,991,980

Liabilities	2,237,971,279	2,940,138	811,902	6,789,131	199,270	13,860,156	(25,769,301)	2,236,802,575
Customers resources	865,051,201	--	--	--	--	--	(78,819)	864,972,382
Financial institutions resources	766,817,455	2,323,464	--	--	--	189,585	(19,765,149)	749,565,355
Resources from issuance of debt securities	339,975,340	--	--	--	--	10,057,413	--	350,032,753
Provisions	31,851,292	121,117	33,404	54,088	339	440,440	(1,847)	32,498,833
Other liabilities	234,275,991	495,557	778,498	6,735,043	198,931	3,172,718	(5,923,486)	239,733,252
Shareholders' equity	178,173,393	918,729	1,972,515	11,083,711	10,260,985	4,107,451	(22,327,379)	184,189,405
Total liabilities and equity	2,416,144,672	3,858,867	2,784,417	17,872,842	10,460,255	17,967,607	(48,096,680)	2,420,991,980

In thousands of Reais, unless otherwise stated

‌7 - Cash and cash equivalents

	Banco do Brasil		Consolidated
	March 31, 2026	December 31, 2025	March 31, 2026	December 31, 2025
Cash and due from banks	21,464,374	17,192,762	23,946,939	19,737,849
Local currency	13,005,634	10,238,077	13,011,002	10,239,446
Foreign currency	8,458,740	6,954,685	10,935,937	9,498,403
Deposits with Brazilian Central Bank	999,999	--	999,999	--
Discretionary deposits at the Central Bank	999,999	--	999,999	--
Interbank investments ¹	39,298,361	41,282,113	36,746,175	39,897,676
Securities purchased under resale agreements - guaranteed by securities not repledged/re-sold	1,411,843	285,257	1,411,843	313,853
Interbank deposits	37,886,518	40,996,856	35,334,332	39,583,823
Total	61,762,734	58,474,875	61,693,113	59,635,525

1 - Investments whose original maturity is less than or equal to 90 days and with insignificant risk of change in fair value.

In thousands of Reais, unless otherwise stated

‌8 - Deposits with Central Bank of Brasil

Breakdown

	Banco do Brasil		Consolidated
	March 31, 2026	December 31, 2025	March 31, 2026	December 31, 2025
Time deposits	54,855,645	53,187,224	54,855,645	53,187,224
Savings deposits	41,065,721	42,454,209	41,065,721	42,454,209
Demand deposits	17,909,384	20,349,251	17,909,384	20,349,251
Instant payment account	3,604,463	3,843,247	3,604,463	3,843,247
Discretionary deposits at the Central Bank	999,999	--	999,999	--
Electronic currency deposits	149,379	182,202	149,379	182,202
Total	118,584,591	120,016,133	118,584,591	120,016,133

Income from reserve requirement investments

	Banco do Brasil		Consolidated
	01/01 to 03/31/2026	01/01 to 03/31/2025	01/01 to 03/31/2026	01/01 to 03/31/2025
Time deposits	1,804,128	1,226,074	1,804,128	1,226,074
Savings deposits	819,454	809,943	819,454	809,943
Total	2,623,582	2,036,017	2,623,582	2,036,017

In thousands of Reais, unless otherwise stated

‌9 - Interbank investments a) Breakdown

	Banco do Brasil		Consolidated
	March 31, 2026	December 31, 2025	March 31, 2026	December 31, 2025
Securities purchased under resale agreements	206,718,268	128,120,273	207,001,912	128,352,536
Reverse repurchase agreement - own resources	2,046,655	1,138,774	2,330,299	1,383,241
Domestic Federal governments bonds	--	--	--	16,000
Sovereign bonds issued abroad	2,046,655	1,138,774	2,143,680	1,168,051
Other securities abroad	--	--	186,619	199,190
Reverse repurchase agreement - financed position	204,671,613	126,981,499	204,671,613	126,969,295
Domestic Federal governments bonds	204,671,613	126,981,499	204,671,613	126,965,499
Other securities	--	--	--	3,796
Interbank deposits ¹	90,346,272	58,892,330	91,299,484	61,130,780
Total of Interbank investments	297,064,540	187,012,603	298,301,396	189,483,316
Allowance for losses associated with credit risk	(23,882)	(18,626)	(24,191)	(18,797)
Expected loss on investments in interbank deposits	(23,882)	(18,626)	(23,948)	(18,634)
Expected loss on securities purchased under resale agreements	--	--	(243)	(163)
Total of Interbank investments net of expected losses	297,040,658	186,993,977	298,277,205	189,464,519
1 - The consolidated amounts include R$ 6,209,265 thousand related b) Result of interbank investments	to investments abroad as required by the local monetary authorities.
	Banco do Brasil		Consolidated
	01/01 to 03/31/2026	01/01 to 03/31/2025	01/01 to 03/31/2026	01/01 to 03/31/2025
Income from securities purchased under resale agreements	6,252,045	9,820,877	6,283,817	9,825,144
Funded position	6,237,783	9,820,664	6,237,783	9,820,664
Own portfolio position	14,262	213	46,034	4,480
Income from investments in interbank deposits	1,182,447	856,312	1,154,751	856,444
Exchange fluctuation	(1,386,397)	(2,458,770)	(1,386,397)	(2,458,770)
Revenue from Interbank investments	6,048,095	8,218,419	6,052,171	8,222,818
(Allowance)/ reversal for expected loss	(5,767)	(1,265)	(5,912)	(6,205)
Result of Interbank investments 6,042,328		8,217,154	6,046,259	8,216,613

In thousands of Reais, unless otherwise stated

Stages

March 31, 2026

Securities purchased under resale agreements Interbank deposits

Total

Expected loss on interbank investments

Balance of interbank investments

Banco do Brasil

Stage 1 Stage 2 Stage 3 Total

206,718,268 -- -- 206,718,268

90,346,272 -- -- 90,346,272

297,064,540 -- -- 297,064,540

(23,882) -- -- (23,882)

297,040,658 -- -- 297,040,658

December 31, 2025

Securities purchased under resale agreements Interbank deposits

Total

Expected loss on interbank investments

Balance of interbank investments

Banco do Brasil

Stage 1 Stage 2 Stage 3 Total

128,120,273 -- -- 128,120,273

58,892,330 -- -- 58,892,330

187,012,603 -- -- 187,012,603

(18,626) -- -- (18,626)

186,993,977 -- -- 186,993,977

March 31, 2026

Securities purchased under resale agreements Interbank deposits

Total

Expected loss on interbank investments

Balance of interbank investments

Consolidated

Stage 1 Stage 2 Stage 3 Total

207,001,912 -- -- 207,001,912

91,299,484 -- -- 91,299,484

298,301,396 -- -- 298,301,396

(24,191) -- -- (24,191)

298,277,205 -- -- 298,277,205

December 31, 2025

Securities purchased under resale agreements Interbank deposits

Total

Expected loss on interbank investments

Balance of interbank investments

Consolidated

Stage 1 Stage 2 Stage 3 Total

128,352,536 -- -- 128,352,536

61,130,780 -- -- 61,130,780

189,483,316 -- -- 189,483,316

(18,797) -- -- (18,797)

189,464,519 -- -- 189,464,519

In thousands of Reais, unless otherwise stated

‌10 - Securities

Portfolio of securities by classification category

	Banco do Brasil		Consolidated
	March 31, 2026	December 31, 2025	March 31, 2026	December 31, 2025
Securities at fair value through profit or loss	4,158,990	3,669,173	9,440,412	7,620,302
Securities at fair value through other comprehensive income	651,714,300	631,884,974	660,739,749	640,022,346
Securities at amortized cost	73,384,339	72,422,703	81,884,731	82,141,286
Total	729,257,629	707,976,850	752,064,892	729,783,934

Securities measured at fair value through profit or loss (FVPL)

Banco do Brasil	March 31, 2026
Banco do Brasil	Amortized cost	Gains/(losses)	Expected credit losses	Fair value
Debt instruments	4,166,121	(4,738)	(2,441)	4,158,942
Federal government bonds	3,581,816	8,082	--	3,589,898
Securities issued by financial companies	584,305	(12,820)	(2,441)	569,044
Equity instruments	28	20	--	48
Investments in mutual funds	28	20	--	48
Total	4,166,149	(4,718)	(2,441)	4,158,990

Banco do Brasil	December 31, 2025
Banco do Brasil	Amortized cost	Gains/(losses)	Expected credit losses	Fair value
Debt instruments	3,669,768	1,059	(1,722)	3,669,105
Federal government bonds	3,145,059	961	--	3,146,020
Securities issued by financial companies	524,709	98	(1,722)	523,085
Equity instruments	60	8	--	68
Investments in mutual funds	60	8	--	68
Total	3,669,828	1,067	(1,722)	3,669,173

Consolidated	March 31, 2026
Consolidated	Amortized cost	Gains/(losses)	Expected credit losses	Fair value
Debt instruments	8,241,359	113,751	(4,306)	8,350,804
Federal government bonds	4,114,604	7,161	--	4,121,765
Foreign governments bonds and official institutions abroad	802,331	223,045	--	1,025,376
Securities issued by financial companies	39,234	(1,259)	--	37,975
Securities issued by non-financial companies	3,285,190	(115,196)	(4,306)	3,165,688
Equity instruments	1,002,886	86,722	--	1,089,608
Shares	157,478	78	--	157,556
Investments in mutual funds	845,408	86,644	--	932,052
Total	9,244,245	200,473	(4,306)	9,440,412

Consolidated	December 31, 2025
Consolidated	Amortized cost	Gains/(losses)	Expected credit losses	Fair value
Debt instruments	6,647,486	38,810	(3,902)	6,682,394
Federal government bonds	3,560,060	816	--	3,560,876
Foreign governments bonds and official institutions abroad	204,502	46,640	--	251,142
Securities issued by financial companies	28,581	(55)	--	28,526
Securities issued by non-financial companies	2,854,343	(8,591)	(3,902)	2,841,850
Equity instruments	849,303	88,605	--	937,908
Shares	131,593	89	--	131,682
Investments in mutual funds and other securities	717,710	88,516	--	806,226
Total	7,496,789	127,415	(3,902)	7,620,302

Banco do Brasil S.A. | Individual and Consolidated Financial Statements

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Banco do Brasil SA published this content on May 13, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2026 at 21:58 UTC.

Latest news about Banco do Brasil S.A.

05-21	BB Ventures II announced that it has received BRL 300 million in funding from Banco do Brasil S.A.	CI
05-21	Banco do Brasil approves payment of 340.7 million reais in interest on equity	RE
05-14	Banco do Brasil S.A., Q1 2026 Earnings Call, May 14, 2026
05-14	Banco do Brasil S.A. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI
05-14	Banco do Brasil posts 54% drop in Q1 net profit, lowers 2026 forecast	RE
05-14	Banco do Brasil's adjusted net profit falls 54% in first quarter	RE
05-11	Brazilian payments firm Elo moves ahead with potential US IPO, sources say	RE
05-07	Brazilian lender Bradesco posts 16% rise in Q1 profit, beats estimates	RE
05-06	Brazilian lender Itau posts 10% rise in Q1 profit, misses estimates	RE
04-30	Banco do Brasil shareholders approved a plan to boost the lender's capital limit to 150 billion reais - Bloomberg News	RE
04-25	Banco do Brasil S.A. - Analyst/Investor Day
04-21	October elections as a catalyst for a Brazilian market re-rating?
04-17	Banco do Brasil raises $500 million with 5.5-year bond issuance	RE
04-17	Peruvian stocks recoup some losses while focus remains on Mideast resolution	RE
04-16	Peruvian stocks, sol recoup some losses; focus on Middle East talks	RE

Chart Banco do Brasil S.A.

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Period

BBAS3: Dynamic Chart

Company Profile

Banco do Brasil is among the main South American banking group. The activity is organized around 5 areas: - retail bank: sale of classic and specialized banking products and services (consumer credit, leasing, insurance, etc.); - businesses bank; - investments bank; - market bank; - assets management: EUR217.7 billion of assets under management at the end of 2017. At the end of 2017, the group managed EUR129.9 billion in current deposits and EUR147.4 billion in current credits. Products and services are marketed through a network of more than 4,770 branches located in Brazil.

Employees

84,619

Sector

Banks

Calendar

Earnings release - Q2 2026

More about the company