Good morning, everyone. I'm Ricardo Moura, Director of Investor Relations and Proprietary M&A. Welcome to the Results Conference Call of the First Quarter of 2023 of Banco ABC Brasil. For those who are watching the broadcast via Zoom and wish to follow in English, please click on the Translation bright button below on your screen. Before we get started, I would like to share the following disclaimers. Any statements that may be made during this conference regarding the business prospects of Banco ABC Brasil, projections, operating and financial goals, constitutes the beliefs and assumptions of the company's management, as well as current available information to Banco ABC Brasil. Future considerations are not guarantee of performance and involve risks, uncertainties, and assumptions because they refer to future events and therefore they depend on circumstances that may or may not occur. Investors and analysts should understand the general conditions, industry conditions, and other operating factors may affect the future results of Banco ABC Brasil, and may lead to results that materially differ from those expressed in future conditions. In compliance with the General Data Protection Law, we also inform that this presentation is being recorded and broadcasted on our social network, and that in proceeding, you are aware that personal data such as voice and image may be shared without any harm of breach of law. All content, including the presentation, is available on our IR website. To follow the presentation better, I suggest you to download the content on the QR code that you have on your screen, and at the end, we are going to have a Q&A session. By my side, we have Sérgio Borejo, our CFO. Welcome, Borejo. Good morning, everyone. Good morning, Ricardo. Thank you for the opportunity. It's a great pleasure to be here with you. I would like to also invite directly from New York, our CEO, Sérgio Lulia. Good morning, everyone. I'm here, following the presentation, and I'm available for Q&A. It's up to you, Ricardo. Thank you, Lulia. Now I invite our CFO to present the results of Banco ABC Brasil, bringing the main financial and operational highlights. Borejo, the floor is yours. Thank you. Well, let's start with the results. We will start with the highlights of the first quarter of 2023, in which the net profit reached BRL 190 million, a growth of 3.7% compared to the same period of 2022. That represents a reduction of 3.7% compared to the previous quarter, capturing the isolated impact of a company in the CIB segment, which was provisioned from 30%-70%. The return on average equity was 14.4%, excluding isolated impacts on provision expenses. The return on analyzed capital was 16.5%. The same period, we had a growth in the margin with clients of 20% compared to the same period in the previous year, and 3% compared to the Q4 of 2022. The portfolio quality remained resilient. Operations with delays over 90 days closed in the quarter at 0.6%, below our historical average and in line with the previous quarter. Finally, the extended credit portfolio operated practically in stability, had an expansion of 16% in the last 12 months, while the middle portfolio grew 38% in the same period, both within our growth guidance for the year 2023. Now, let's watch a video with our main highlights. Well, about the expanded credit portfolio, in addition to the already mentioned growth of 16% in the year, it is important to notice the co-performance of the corporate segment, which presented an expansion of 22% in the last 12 months, representing almost 58% of the expanded credit portfolio. Analyzing by credit segment in the annual comparison, the decline in lows at CIB was offset by the growth in corporate securities and guarantees issued with expression of 31% and 5%, respectively. In the quarterly variation, the first quarter traditionally presents a higher concentration of maturities. The middle segment, for example, presented a 4.7% reduction compared to December 2022. This behavior. Well, it's in line with the portfolio's historical seasonality. In the next slide, we can observe the expanded credit portfolio that continues with a high sector diversification, presenting a very scattered credit portfolio. Besides, it has its largest expansion in defensive sectors like agribusiness, energy, and infrastructure. This composition, together with the origination of quality operations, has contributed to the portfolio's resilient performance, maintaining low delay rates even at moments of economic cycles with higher interest rates. Now we are going to emphasize the financial margins with clients, which had its fifteenth consecutive quarter of expansion, the result of gradual increase in products with higher added value in the revenue mix, including derivative products related to energy and expansion of cash management services. Annualized spread with clients reached 4.4%, the 7th consecutive quarter above the 4% market. The spread with clients adjusted by provision closed the quarter at 3%, an increase of 22 basis points in the quarter, reflecting lower provisions expenses in the quarterly comparison. In relation to the financial margin, the margin with clients was the main lining, closing the first quarter at BRL 345 million, and representing a growth of 20% compared to the same quarter of the previous year, and 3% compared to the Q4 of 2022. The shareholders equity to CDI was BRL 141 million in the quarter, almost in line with the previous quarter. Margin with market had a total of BRL 64 million in the first quarter of 2023, a 23% decrease compared to the first quarter of 2023, which was one of the quarters with the highest historical performance in this slide. As a result, the net interest margin reached BRL 550 million in the first quarter, a growth of almost 23% on the year. Finally, the annualized rate of net interest margin closed the first quarter at 4.7%. Remember, the first quarter has fewer calendar dates, and that makes the seasonality lower in relation to the margin. Starting the analysis of the credit portfolio, loan overdue more than 90 days, sorry, ended the quarter at 0.6% of the portfolio. A little bit below our historical average, the delays of the CIB and corporate segments were practically stable compared to the previous quarter, showing the resilience of the portfolio, even in a scenario of higher interest rates. It's important to notice that this delay level does not capture the impact of the isolated events in the CIB segment. In the middle segment, the delay reached 3%, a result of the slight reduction in the portfolio in that quarter, and delay increase, increases concentrated in specific older crops. Remembering that this number does not capture eventual reviews regarding the coverage of Americanas. Following our presentation, the expanded provision expenses closed the quarter at BRL 99 million, equivalent to 0.9% of the expanded portfolio. The main special effects of the quarter were a provision of a company in the CIB segment, increasing 30%- 70%, expands in the quarter, partially offset by the reduction of 2,682 credit portfolio, and the migration to names with better credit score. Also, in this specific quarter, we improved the methodology for classification of credit operations using a more granular scale, in line with the implementation process of the IFRS 9 rules, considering the parameters of Resolution 2682. Given the portfolio with good clients, we had shorter deadlines and good guarantees. Meanwhile, the loan loss reserve in relation to the portfolio ended the quarter at 3.2%, an increase of 50 basis points in the quarter. In the view of the segment, there was a reduction in the corporate and a slight increase in middle. In CIB, we increased the level of provisioning due to the current situation of a company in this segment, as we mentioned before. Our coverage ratio covered 496% above the historical average. Moving to the service revenue, it reached 13.5% of the total revenue in this quarter. We continue to verify the growing contribution of the insurance tariffs and brokerage, which closed the quarter with a growth of 51% compared to the same period in 2022, reflecting both the growing contribution of the insurance broker as well as the increase in our client bases. On the other hand, in relation to the investment banking, the historical seasonality of the first quarter that are less dynamic compared to other periods of the year, it was impacted by the low volume of fixed income issues in the market. For the expenses, which in the first quarter of 2023 presented a 5% reduction compared to the previous quarter. In the annual comparison, they grew 20%, a rate substantially lower than the expansion of the previous year. With that, we keep as an expectation for the year, a gradual improvement in the efficiency index, with continuous control of expenses together with the continuity in the expansion of revenues through the gain of scale, maturation of new initiatives, and the capture of operational leverage. On slide 12, we present the evolution of our funding. At the end of March, the funding balance totalized BRL 44 billion, growth of 11% in 12 months. Management of assets and liabilities had accumulated fast positions, positive in all vertices. A liquidity position at the end of the quarter was approximately BRL 8.5 billion, the equivalent of 1.6 times the value of the shareholders' equity. One of the Banco ABC Brasil success factor in excess of competitive funding is both local international currencies. This condition is supported by rating grades equivalent to the Brazilian rating by the main market risk agencies, or in the case of them, a grade above the sovereign. We believe that the quality of our funding is even more relevant in an environment of high basic interest rate, standing out more than ever as one of our main differentials. We ended the quarter with a reference equity of BRL 6.5 billion and a shareholders' equities of BRL 5.3 billion. The total BIS ratio reached 14.8%, while the level one capital closed the quarter at 12.8%. This variation resulted from the increase of the high weight in assets, an effect partially offset by the appropriation of the first quarter of 2023 results and the issuance of equity instruments. We consider the current level of capitalization comfortable and enough for us to continue with our business plan. On slide 14, we see the evolution of the annual result. The recurring net income from the first quarter of 2023 reached BRL 190 million, a growth of 3.7% compared to the same period last year. This trend can be explained mainly by the increase in margin with clients and an increase with shareholders' equity. Remunerated CDI being partially compensated by the increase in the provision expenses and the growth of expenses, which already has isolated trends. The average equity of the quarter was 14.44%, a reduction of 114 basis points compared to the same period in 2022. In relation to the recurring net income and the annualized return on shareholder equities were affected by two main factors: additional provision of the isolated case in CIB segment and the lower income from investment banks. Excluding those individual impacts in the provision expenses, the annualized return on equity would be around 16.5% in the quarter, even considering investment bank income lower than our historical average. Well, those are the highlights we would like to present. Now we are available for questions from the participants in the video conference. Thank you. Thank you, Borejo, for bringing us the overview of the bank's results in this first quarter. I also thank everyone who's following the broadcasting. Now, I would like to invite our CEO, Sérgio Lulia, to start the Q&A session. Lulia, the floor is yours. Hi, Ricardo. I haven't heard any questions so far. Great. Now we will start our Q&A session. Well, to everyone who is following us, feel free to ask questions. To participate, just click on the icon on the bottom of your screen. We are available for questions. Our first question comes from Flavio Yoshida from Bank of America. Flavio, thank you for your participation. Good morning, everyone. Thank you for the opportunity of asking question. I have a question in relation to the middle portfolio. We saw that the overdue has increased a lot, and in this quarter, the growth reduced. At the same time, you have a guidance of growth for this portfolio for this year. I would like to understand when we get all that together, if the guidance of these 35-45 portfolio continues, if you see any risk of not reaching the guidance, if you want to uptake a stronger growth for this portfolio throughout the next quarters. Thank you. I can answer this one. Yeah, go ahead. Go ahead, Borejo. I can add on afterwards. Good morning, Flavio. Thank you for your question. This increase on the overdue, in a way or another, it was something expected. Our portfolio was a new portfolio. It's grew throughout the last years. It got more and more mature. With this maturation, we have this trend, and the overdue was natural to increase. We reached, as you've mentioned, 3% in the first quarter of 2023. There was a reduction in the portfolio in the first quarter, as in the first quarter of last year, we started the year with the first quarter that was weaker. The middle portfolio had a reduction. Even last year, we grew more than 40%. Of course, that's not a guarantee for the growth this year, but we expected a first quarter that was somehow weaker, a weak production, mainly because the third and the Q4 of last year was a little bit stronger. In relation to this year's guidance, we are going to keep it. It's way too early. We are in April still. Well, in April last year, we had this similar situation. The issue now is the volume. The volume, and the demand for credit, if it's going to return or not. It was weaker in the first quarter. We believe it was potentialized. Besides the seasonality, it was potentialized by the interest rate, but we are keeping the guidance and also our middle term and long-term plans. That's part of our strategy here. Perfect. Thank you. If I can ask another question. In relation to the evolution of the NII, and the NIM, because you've mentioned there was a migration for clients with better ratings, and that explained the provision that wasn't that high and, in relation to the U.S. provision, and we have a lower number for the middle. When we get everything, the middle growth that was a little bit lower and the better rating clients, what should we expect for the growth of the net interest margin? Flavio, this. You are right in relation to the portfolio growth. The engine for the margin growth here for us, and when we look 12 months to the past, it was 20%, is the mix of products. In our point of view, if we manage to continue with added value products, so energy, cash management, we also have other products. Derivatives was pretty good. All that helps us in this net interest margin expansion. Our ambition, our objective is to continue with the diversification, adding added value to our portfolio. In our point of view, we have room to continue with the gradual growth. It won't be a step in our margin expansion, but we believe there is room for growing the margin, not with the same size we had probably in 2022, but the trend is to escalate. Ricardo, if I can add a little bit about that, well, and take advantage of Flavio Yoshida's question. Here's what I think. One thing is our strategic planning. I believe it's pretty clear, you know, what is it, this diversification of customer segments with a stronger positioning in middle market. We have a larger management of products, and that brings a higher profitability, even for segments that we were present. The third is a family of channels that is broader, including digital channels. Well, a factor that is essential for the success of this strategy, and we've seen that in the last 30 years, is to navigate the credit cycles. If you know how to go through that, it's to speed up when you have to speed up, break when you have to break, have some portfolio arrangements when we see those opportunities. When there is a proper economy, you make your adjustment, but that doesn't change the long-term planning. It makes it more feasible. In this first quarter, for instance, due to the credit scenario that is a little bit more challenging, as well as the closure of the capital market and everything, it is the moment in which, as in 2022-2020 during the pandemic and 2014, 2015 during the Lava Jato case, and 2018, 2019, you have great companies with an excellent rating that access bilateral loans. In the past, they would go for the capital market, and then they come from the bank, balance sheets, and they pay rates and fees that tariffs that they don't pay. We take advantage of these moments to use those assets concerning the risk we are taking as a bank. You are a little bit more conservative in other sectors. There's no problem. When the credit cycle improves, and we are at the end of the cycle, we have an interest rate there at this level for a while. The economy is losing its speed. We have some political issues that have jeopardized some aspects. It's a moment in which it's reasonable and important to the bank to select the assets. It's one of the advantages. You have a portfolio with a short duration, 1 year something, and a bank that has flexibility due to the size it has with clients, we can enter and exit according to the scenario. Once again, it's more an example of things that we've done in different crises, in different moments in which the credit was more complicated. We did once again, looking ahead, our plan is intact and won't change. That's it. Thank you. Thank you, Sergio. Thank you, Flavio, for your question. Let's go to the next question. It comes from Yuri Fernandes from JP Morgan. Yuri, thank you. The floor is yours. Thank you, everyone. I would like to ask about the PDD outlook. It's difficult to have a visibility in corporate cases. They come and go, but the impression I have is that we had a reshuffle of the little ladders in other portfolio, and we have a provision that is good so far. My question is, do you expect to continue with 100%, 70 and the PDD with the best options? Sorry. Low loss provision would go back to the level, it will be high for provisions. What should we expect in relation to LLP? Can I? Go ahead, sure. Well, Yuri, thank you. Thank you for your question. Talking about the specific case of CIB, we believe that 70% reflects close what the case shows. In light of what we see today, we don't expect more or less provisions. We believe it's pretty compliant with what we propose. Of course, if the plan doesn't close or with other basis, we are going to review. Considering the information we have, 70% is pretty adequate. In relation to the future outlook, well, this is one of the most difficult things for us to foresee in our balance. We have one or two cases of provision. Those things change the short-term scenario. What we see from today, well, we don't have a specific case that calls our attention. Despite the high interest rates that's been around for a while, the maturity of corporate and CIB and the middle 0.6% above 90 days, well, that's a good number below our historical average. Well, we expect a year so far, a year that will be normal without any specific case in our watchlist. Of course, with all challenges of an environment with an interest rate around 14%. The specific case, Borejo, thanks for your answer. The treatment for those overdues for, well, how it's going to work in order to consider the coverage, it's well-provisioned, but I would like to understand the ratios from now on. Well, according to our policy, what we usually do while the plan is not signed, we are going to count the overdues from that moment. When it's signed, it's a new operation. Probably due to the size of the case, we will release the overdue time with and without the specific case, so we have better transparency to the reader of the earnings. That's what we are thinking about doing. Thank you, Borejo. Thank you very much. Thank you, Yuri. Next question from Mateus Raffaelli, from Itaú BBA. Mateus, thank you for your presence and your participation. The floor is yours. Good morning, Ricardo, Borejo, Lulia. Thank you. I would like to go back to the middle relating to profitability. Of course, this expansion was very good when we increased the spreads, it scattered the provision. 2023 would be the year in which the middle is not what retains and contributes in that aspect to the bank. Is there any expectation for you this year or the overdue periods, seen in this segment and the credit scenario would postpone the middle to overcome the profitability, maybe due to a higher cost of credit, potentially lower volumes, considering a lower demand of customers, as Borejo mentioned previously? Thank you.\ Do you want to answer this one, Sergio? Well, sure. Mateus, thank you for your question. This year, Well, not for sure, but, considering everything we've seen, middle is a segment with a positive profitability. Even with the delays we have, that is around 3%, the provision is 4.6, 4.5. We did that last year. The provisioning, well, it supported overdue periods of this size. I don't see these outstanding amounts that will affect us. The challenge is, as Borejo mentioned, we had in the 1st quarter, today, we have a tighter credit ruler, and we have up to November, the numbers, it's tighter and makes the origination of new operations more difficult. We have well-established process and tested project. The decision to grow or not is a decision that is under our power. You open or close the tap. Today, we are a little bit tighter, I believe that we are at the end of a tighter credit cycle. Maybe it will last up to 4 months. We have conditions when we start the process of adjustment of the monetary policy. If we have good rules for approving the reforms in June and July, we are going to have a proper economic climate, allowing the bank to allow a little bit more flexibility. 'Cause clients are there, contacts are made, commercial teams are well-informed, the process are arranged. It's a matter of deciding when to speed up. So far, we are not doing that, but soon, we are going to do that. Thank you. Thank you, Mateus, for your question. Now we are going to our next question from Eric Ito from Bradesco. Eric, thank you for your participation. Good morning, Ricardo. Sergio, thank you for the opportunity of asking a question. I have 2 of them. First, a follow-up in relation to the middle. I would like to understand what you are expecting of outstanding payments. We saw overdue, and you expected this deterioration in this month. I would like to understand what you are expecting for the year, for the quarter, and if, well, you have a provision of 4.5% of the portfolio, or if there could be a more conservative approach. My second question is in relation to fees. Probably this year is going to be a little bit weaker. I would like to understand what you expect in relation to that for this year, and if we can compensate with operational leverage of all other revenue lines. Do you want to answer this one? Yeah, you can start, and I will add on that. Okay, thank you. Eric, thank you. Thank you for your participation and your question. In relation to the outstanding payments of middle, it's around that, a little bit more, a little bit less, but it can have a small growth, nothing distant from what we are expecting. Around that. We cannot see anything that is different from that throughout the year. In relation to 4.5%, what was the idea? We had a provisioning that was low in the specific, we had 4.5% saying that this will not be supported. This delay for the portfolio is not sustainable. The same thing should happen. 4.5% seem to be a level that is quite reasonable for that moment. This is an anti-cyclic. If we have this above 4.5%, we don't need a buffer for that. 4.5% was way more for adjusting our portfolio for a big 9 cycle that didn't seem to be sustainable throughout time. In relation to the fees, as Sergio mentioned in the previous question, we are in a moment in which portfolios, corporate portfolios from banks, they are not growing, they have a low growth, and with an activity for the market, the capital market of fixed income, it's also low. It's a matter of time. If the capital market doesn't come back, you will have an increase on the corporate portfolioWith higher prices, adequate prices related to the risk of that moment, as Sergio mentioned in the previous question. We are ready for both scenarios. We don't know which one we should turn first, but we need to be ready for both. If the capital market, and we expect that to come back, we are ready. We are an investment bank, and we are ready full throttle. If it doesn't come back, and we have good opportunities, probably they are going to happen in relation to incrementing our corporate balance sheets. Well, we are ready for that too. If I could add on Eric's question. Eric, with everything that Borem mentioned, here's another point. If we get this quarter, a weak quarter for investment banking as quarter, with middle that had a delay and in CIB also, we had BRL 14.4. Just removing the provision, only considering the level of provisioning to be the historical average. Not considering any fee, activity, investments, I believe that we are building a bank that has the diversification of sources in different segments and different products. Those that generate fees or not, well, they have a capital allocation, just like the derivatives. Well, they bring a better resilience. For instance, we are unhappy with 14.4. It happened, we didn't enjoy, but it's part of the game. In a quarter that we consider that we were affected by something that it was larger than we expected, the investment banking, due to the market condition, didn't perform, it was an YR that is way more sustainable due to the leverage of the operational leverage, due to product management, and due to the use of digital channels. Thank you, Eric. Now we are going to move to the next question, Carlos Gomez-Lopez HSBC. The floor is yours. Thank you. Two questions. First, I was expecting an increase in margin because they say that its spreads have increased after the crisis in January. We saw 2 in the results. Are we going to have a difference in the next quarter or the effect of the mix is higher? The second question is in relation to capital. There was a reduction of 2.1 to 11.6. Once again, we are at the end of the cycle. Shouldn't we have a little bit more of capital at this moment? Thank you. Can I answer? Please. The increase in margin, Carlos, first of all, good morning. Thank you for your question. Well, you guided the answer. There is an increase in margin if you keep exactly the same portfolio composition. As I've previously mentioned, this is a moment we take advantage of, and we believe we should do that. We migrate to better quality options. Name by name, the spreads increased. In total, when you have a shift for customers, for clients of better quality, it doesn't mean that the entire result is higher. We can keep instead, but we are working with better quality clients. When the economy is performing better and the perspectives are better, it's the other way around. The clients with a better rate for CIB, they access the capital markets, the spreads are lower, and we no longer have loans, and we are more aggressive in the middle market or in the corporate where the spreads are higher. In relation to the capital, well, we have a capital level that is pretty comfortable. We, historically speaking, at certain moments in which we, are able to use a higher capital, we recapitalize the dividends. It's a possibility this year if we consider, we can use this capital. We are going to continue with that mechanisms, where you pay dividends and offer to investors the possibility to reinvest. With that, we believe we have a robust capital that can support the business plan of the bank for a longer period, a long period. We have a planning of three to five years. We never see the need of growing less or accessing other sources of capital because we can generate enough capital here to support our own growth. Well, at this moment, you haven't decided the reinvestment of dividends, right? Yes. That's a discussion, that's a decision from the board. When the right moment comes, we are going to take that to the board, they decide, and we release to the market. Thank you, Carlos. Thank you, Carlos. I'm just waiting for our next question. Our next question is from Lucas Martins from Prado Assessoria. Thank you. The floor is yours. Good morning, Lulia. Hello, everyone. I would like to understand, besides the partner programs you took part, you had the IB change. Could you shed a light on your plans? What is the governance? A second question about this initiative of credit. Do you have any perspective of the size that you want to have inside the bank? Are you going to buy only corporate credit or in the market as a whole, or only the credit from the bank? Hi, Lucas. Thank you for your questions. Here it is. We have a model here at the bank for partnership, and you know this, and it is here since 1997, 25 years, in fact. We believe this is a quite successful model because, in fact, it brings to shareholders, the minority shareholders, this sense of ownership. They have the appetite for the proper risk, a long-term consideration and increased costs and everything, and you are investing your own capital at risk. We also thought that this is a factor that was paramount for the history of Banco ABC Brasil until today. We thought, well, if it is like that, why not implement the same model in other initiatives? We started. The first experiment is the broker, the insurance broker, in which the CEO has a participation in the shares, and it grants him somehow that responsibility, that liability for the expansion project. Well, there's no risk there as it is a broker, but it brings that long-term thought that we really enjoy. Also the upside of the business. The second activity we did like that, not in relation to the partnership, but there is a direct participation in results. It's the energy company, and it's performing pretty well. Now we have two other initiatives. The investment banking, there was an approval for the central bank, and the idea here is it's an activity we have been performing pretty well. In relation to the domestic debt, we have a well-consolidated activity, but with a potential to grow. In relation to M&A also. The potential of growth is even better. We have a market share that is smaller, so we can grow a lot. There is project finance, other products that are yet to develop. In order to have a quality team and to attract good talents, a partnership program is pretty good. People come with the assurance that the entire upside they bring to the business, they will be part of that. We are doing this new company. We are preparing this new company. The executives that are leaders of the business, Sérgio Lulia and Ricardo Rocha, they will be the executives that will continue with this subsidiary. They have their own participation. The team, the second level, the N2 of the investment banking, all of them with participation. That will allow us to strengthen the team, mainly in a moment like that, in which the investment banking market is a little bit stagnated. It's a good moment to strengthen the team. We have banks reducing their teams, and we have room enough for operations with corporate and middle clients. The credit recovery company, it totally relates to our activity. We have this credit recovery company with the same model. The partners have this participation, the executives have participation. The bank is the main shareholder. The idea here is to start experimenting the market. A higher focus with the corporate, because the retail... Well, retail, customers is a little bit more competitive, but doesn't mean that we cannot buy retail portfolio. We are going to acquire portfolios from the corporate market and in assisting our customer, our clients, in buying their own portfolio as well as in the servicing. I help to charge your receivables, and we can share the results in relation to what was achieved. I believe it will help us in relation to the time to price the credit in another angle. We always mention that we price the risk, but always in the desert. Now we have a team that has a long experience of pricing risk in cases that performed badly, and how do you deal with that? We have a good synergy with our activity, and this is an activity that we are pretty optimistic. We start low, just like everything. There's no purpose to start big. You need to have a learning curve. You need to test the systems, you need to test the collection capacity, and we grow. It's an activity that in 2, 3 years, well, we are going to have a more relevant contribution to our results. Perfect. Thank you very much. Thank you, Sergio. Let's see if we have any further questions. We have a question from Jorge Paso. Jorge, thank you for your participation. Please. Thank you. Can you hear me? We can hear you. Please go ahead. Okay, perfect. My question is for. Jorge, My question is, regarding cost of risk, regarding the NPL, how do you see these metrics move forward with the current information that we have as of to date? Do you think they're continuing going up? Do you think they have peaked? What's your best guidance for the end of the year? Thank you. Jorge, I'm gonna answer in Portuguese. You can follow in the translation in English at the same time. Okay. I'm going to answer in Portuguese. Our point of view in relation to credit cost and risk is... Well, we can divide in two blocks. The first one is about CIB and corporate. They are in low levels in a portfolio that is quite scattered and diversified, and it's pretty light still. A portfolio that despite seeing the market with an increase of cases of single names, well, our portfolio is pretty light inside CIB and corporate. You can see that with the overdue time. In the middle, as Borejo mentioned during our call, we have 3% of overdue, and the vision is to go around that number. Today, we have an approach that is a little bit more restrictive. It starts in November, December last year, and we are monitoring that closely. It's a smaller piece of our portfolio. Around 9% of our expended portfolio. It's a portfolio that has some additional protection in a higher provision level or more guarantees, and even additional guarantees coming from FGI programs. Well, we don't see any trend to increase NPLs or delays in the portfolio with all the conditions we saw in the market. Something that we are monitoring closely. I don't know if I've answered. Yeah. Yeah. Perfect. Thank you. Thank you. Okay. Thank you for your participation. Thank you for your participation. Next question from Abud, from Teseo Investimentos. Thank you. The floor is yours. Good morning, everyone. Congratulations for the result. My question is in relation to PDD from LLP and the changes you had in classification, the ratings and everything. We saw a change that was quite meaningful, especially with credit going to AA. I would like to understand how was this process and... In the past, you had another methodology, and do you believe you are going to be more compliant with the level of positioning you are going to have in the following years? Well, Leo, thank you for your question. In fact, this is a methodology that we have been practicing for a while. In this quarter, it was a little bit larger, and it's related to the correct pricing when we grant credit. Just talking a little bit about the technical aspects. If you get the vertexes of provisioning of zero, 0.5, 1, 3, you have some leaps. They work pretty well. It goes up to half, 0.5 up to 1, from 1 to 3, and you need to respect the letters AA, AB, and so on. What have we been doing? We are establishing a better granularity. Imagine you have a customer, a client that is provisioned at 0.5, and you say, "Well, the correct level is 0.4, 0.3." You change the LLP of this customer. You can only provision the customer according to Resolution 2682. If you get this certain operation and classify as AA. You have this entire movement. How do we do to determine if it is 0.4, 0.3 and not 0.5? Well, you do that based on other factors, just like the level of guarantees, the term of the operation, the type of loan or operation you are doing. This is also taking into account. What happens is you have a movement among the letters, mainly in the balances, but you don't have a reflex in relation to the result for the provision. You don't have a reversion that is quite meaningful. That was the rationale we used. We had done that for a certain group of clients in the past, and now we did for another segment. That, well, respecting all parameters of Resolution 2682, it will be more compliant, more adherent. You migrate the criteria to something closer to IFRS 9 that is going to be implemented in 2025 here in Brazil. You make pricing of the assets in a more dynamic way. Thank you. We finish our Q&A session. Thank you all for the participation. We are reaching the end of our broadcast of the conference for results of the first quarter of 2023. Now I grant the floor to Borejo and Lulia so they can make their final considerations. I would like to thank once again for the opportunity. It's a pleasure to be here. A pleasure to be here with you all. I hope to see you in the next teleconference for the next quarter. On my side, I would like to thank everyone for the presence, and I hope we were able to clarify any questions and show the trust we have in our project. Our project and our trust is still intact. Thank of you. We are going to see each other at the Itaú conference. Others, see you soon. Thank you so much, Lulia and Borejo. I also thank everyone for the participation. The presentation is available on our IR website. Also, the broadcasting video will be on our YouTube channel. If you want to hear the broadcast in audio format, it will be available on the Spotify profile at Banco ABC Brasil channel. Thank you very much and see you soon.