Good morning, everyone. Welcome to the conference on Financial Results for the Second Quarter of 2025 of Banco ABC Brasil. I'm Ricardo Miguel de Moura, Director of Investor Relations, Market Analysis, and M&A. Let's start with Sergio Lulia. Later, we are going to have our Q&A session. If you want to follow this broadcast in English, please click on the interpretation button at the bottom of your screen. All the content, including the presentation, is available on our investor relations website. To follow the presentation, please download the content through the QR code on screen. Now, I hand the floor to our CEO, Sergio Lulia. Thank you, Moura. Good morning, everyone. It's a great pleasure to be here with you to release the results of the second quarter of 2025. As always, we are going to start with our highlights. First, profitability. The net income was BRL 244 million, an ROAE of 15%, a recovery in relation to 14.1% from the previous quarter. The portfolio reached BRL 52 billion, a growth of 7.9% when compared to the second quarter of 2024. In relation to our portfolio quality, it was pretty good in all indicators, including the coverage ratio that reached 307% in relation to provision balance divided by past due over 90% and 93% when we consider the total provision divided by stage three. The expenses were also a highlight, a growth of 1.2% nominal from the second quarter of 2025 compared to the second quarter of 2024, bringing an efficiency level of 38.4%. Here, a little bit of details in relation to the portfolio growth. It grew 1.8%. The highlight was CIB, that had a growth of 5.3%. The corporate segment was a little bit stable, and middle, 3.7% in growth. In the yearly comparison, the growth was 7.9%. That considering the exchange ratio, if we remove that, this growth would have been 8.3%. In the yearly growth, the CIB is flat, less 1.5% nominal. Corporate growth of 13.5% and middle, 7.8%. In relation to the sectorial exposition, it's a graph we have been showing to all of you. There's not a lot of movement here. This quarter, there was an increase in the energy sector of one percentage point, and services also around one percentage point. The rest is somehow constant. It's a portfolio that is pretty diverse, with better exposure to segments that are less cyclical, more defensive. The bank is present in almost all important sectors of Brazil. The revenue with clients had a recovery in relation to the first quarter of 2025. You can see the total revenue with clients had BRL 486 million. Once again, with a participation of low capital consumption income, revenue, sorry, of 46%. It's a level that is pretty healthy, and that shows not only a better presence with clients, as well as a better diversity of products that make client revenue less volatile. The managerial financial margin, the net income margin was BRL 567 million, now BRL 604 million, and highlight with the margin of client from BRL 341 million-BRL 373 million. Here, in the margin with clients, the two major effects are, the first is spreads that are higher. They grew around 30 basis points, and that was something that we brought to you in the previous quarters, that after a low spread period, not only practiced by the market and also by ABC Brasil, the spreads in 2025 of originated revenues started to recover, and it takes a while to be reflected in the banking portfolio. This effect is here now, and we expect that this will continue in the second quarter. Here, a mix of products, products that have better margin and had a better performance in the second quarter, considering that the first quarter is always seasonally weaker. Now, with market revenue, we had a reduction below the historical average of market revenue. This is a little bit because of two things. First, a lower appetite for the risk due to the volatility. We have mainly the interest market and the cash market, and that brings us care in relation to all that. The second reason is the lower liquidity. Liquidity has a cost. We believe it's reasonable. Anyways, there is a perspective, a perspective of an improvement of revenues throughout the second half of the year. Finally, the equity revenue had a good performance. CDI had a good moment, and the revenue will be constant throughout the second half of the year. The revenue performance was reflected by a net income margin that reached 4.1%, recovering from the reduction in the first quarter. We expect that the NIM will be above 4% at least for the following half of the year. Now, service fees, they represented 23% of the entire revenue from clients, with a dynamics that was pretty good from guarantees issued, BRL 45.7 million. As we always mention, the parts here, it's the more stable. It's a portfolio that has a certain duration, customers that have worked with this product for a while. In the last quarters, it is improving quarter after quarter. The investment banking with a performance similar to the previous quarter, 32.9% versus 34.1%, but below the same period of the year when it was 48.9%. This is a behavior that we have seen in the entire market. We have a concentration of fixed income revenue. Fixed income is pretty dynamic in relation to volume of operation, in relation to diversification of the receivers, the diversification of products, physiques, criss-cross, the benchers, and also commercial. The commissions charged for such business are below than they were a year before. That corresponds to a lower number. In the classification, we have a small increase in relation to the previous year. Insurance and fee revenues had a good quarter. It recovered in relation to the first quarter, reaching BRL 33 million. When we compare every half of the year, it's pretty similar. We have an improvement in revenue coming from guarantees issued. We have a reduction in investment banking due to the reasons I already explained, and a certain stability for insurance and fee revenues. The quality of the credit portfolio is a highlight from the bank. The provisions made in the quarter were BRL 79 million, an increase in relation to BRL 63.5 million from the previous quarter, but a level below our historical average. This quarter, 0.6% in relation to the portfolio compared to 0.5% in the previous quarter. It's important to highlight that the gross provision level was pretty similar to this quarter because in the previous half of the year, there was more credit to recover than here, reducing the final number of net provisions from recoveries. The credit loss allowance is constant. They were around 2.1% of the portfolio. They go to 2.2%. In relation to segments, a provision in the middle from 6.4%- 6.7%, in the corporate from 1.6%- 1.7%, and in the CIB, constant is 0.8%. The operations past due 90 days had a behavior that was pretty good. If we consider the last of the first quarter, had BRL 485 million that were past due 90 days, that volume was reduced to BRL 382 million, and it made the total percentage over the portfolio reduce to 0.9%- 0.7% of the portfolio. Here, you have by segments, 3.8% in the middle, 0.6% in the corporate segment, and CIB, they are flat in zero. Next slide, the past due we just mentioned. It's important to highlight the balance of operations in stage three. It's constant, around 2.4%. It's another sign of the quality of our portfolio. When we compare with the competition, the coverage ratio was reduced due to the reduction due to past due 90 days. Another indicator that is the provisions divided by stage three operations is pretty good and increased from 90% - 93%. Expenses, the expenses, as I've mentioned in the highlights, it's a strong work that we have been doing to control expenses. There is a nominal reduction of 2.4% when compared to the first quarter of 2025, and the yearly comparison is 1.2%. If we get the first half, the entire first half compared to the first half of 2024, there will be a growth of 5%. Now on revenue, due to the points like spread and things hired in the past, revenues coming from lower markets, there is a recovery in the quarter. When we see the first quarter compared to the second, the growth was 6.8%. Those two factors, they had an improvement in our efficiency level, our efficiency ratio, that after going up in the first quarter to 42.1%, goes back to 38.4%. The funding, the funding is pretty comfortable. The funding is diverse. The funding has very good deadlines, always above the active funding. They have competitive fees. In a way that this, since we did our IPO in 2007, we repeat that. It's one of the strong points of our institution. In relation to capital, the Basel ratio closed in 17.3%. Out of those 17.2% that were the previous Basel ratio, and 50% of dividends were paid. It is a 10% deal per year. The capital Tier 1 goes from 14.7% - 14.8%, and the core equity Tier 1 goes from 11.7% to 11.8%. We haven't included the partial recovery of lifetime bonds that will reduce to 2.5%. It is a comfortable capital. It is a quality capital, and it is a capital that allows us to speed up our growth as we believe that the scenario is able to do that. Here, we had the net income from the first to the second quarter. In the first quarter, BRL 225.6 million and an ROAE of 14.1%, and a net income for BRL 244.1 million, ROAE of 15%. We have a contribution with margin of clients, margin with the market, and a higher contribution of PL to CDI. Here, we have one compensating the other, and there is a growth of 8.2% of profit from one point to the other. We finish our presentation remembering our guidance, all of them capped, and in the expanded portfolio, we have in the last 12 months a growth of 7.8% within the guidance. In the second half of the year, as it is a more dynamic year in relation to the portfolio growth, we expect this year to be like that, despite the fact that we are a little bit more careful due to the macroeconomic risks we have. Seen today, our expectation is that this growth is closer to the floor of this range. In the expenses, due to the performance we had and the cost control, we have a guidance of 68%, and the expectation is to be closer to the floor with a good performance. The efficiency ratio will depend on the behavior of the revenues. There is a positive side, and we expect to be like that, and probably we are going to be on the upper part of the range. That's what I had to share with you in our presentation. Now I hand the floor to Moura so we can continue our presentation. Thank you very much. Thank you, Sergio, for bringing an overview of the results for this quarter of 2025. I also thank those who are following the broadcast. Now we are counting on you for our Q&A session. Now, to be with us during our Q&A, we have the presence of Sergio Barejo, our CFO. Welcome. Good morning. Good morning, Sergio. Good morning, everyone who's here watching us. Once again, a great pleasure to be here with you all. Great. Thank you, Barejo. To everyone who's watching us, please ask questions. In order to participate, just raise your hand. It's in the bottom part of your Zoom. Now we are going to start our Q&A session. The first question we have is from Ricardo Buchpiguel from BTG Pactual. Thank you, Ricardo, for your participation. The floor is yours. Good morning, everyone. I have two questions here with me. Looking at the indicator, there was an increase in the average spread in relation to CDI in the beginning of the year, but it went to the levels that were a little bit tighter for the second half of the year. Thinking about that, does it make sense to expect this result will contaminate the NIM of the bank at the end of the year or next year, as we saw that it happened? This effect happened last year in the first half. My second question is, the ABC Banco, they follow the interest and everything, but in the last years, there were some investments in order to make this ROA more elevated in scenarios with low interest. If we are going to a scenario in which the interest rate will go down next year, does it make sense to expect that the bank will keep the profitability levels and which would be the triggers? Maybe a growth in the middle portfolio, another investment banking options, or an opening of a spread in the corporate and CIB. What would be more relevant to think about this inflection point that we are going to see with the interest ratio going down? Good morning, Ricardo. Thank you for the questions. Amazing questions. The first one in relation to the spreads and the impact of that in the NIM in the second half of the year. There is a permanent fight in our everyday business between volume and spread. If you get our volume, as we said, in our last 12 months, the total volume of our portfolio, it went up 8% in this specific year. If we compare to December, almost no growth. Due to the fact we have been pretty persistent in relation to spreads, if we were a little bit more loose in this requirement, probably the portfolio would have grown way more. This fight will continue in the second half of the year. We see the situation of companies that are a little bit better, at least most of them, that is reflected in ratings. The spread is also related to the return risk. If there is an improvement of rating, the spread is a little bit smaller because the allocation of capital is lower. That's what we have been doing. So far, the position is capped with the same number of spreads we saw in the first half. Let's follow the market and see how it is. At least today, we don't have an expectation for drops, but volume is a concern. How much can you grow in volume, keeping the spreads in a higher level? About the other question that is more structural of ROI, the question itself, you showed a good understanding of the organization. We have today an organization that has revenue sources that are diverse and also products that perform better in a scenario of a higher interest ratio and some other with lower interest rates. If you get project financing, that it is an area that has a high income tax rate due to projects that are not implemented when that happens. The variable part of the investment banking also suffers from this problem of being retracted when we have a high interest rate. M&As, that are mainly M&As of middle-sized companies, they also have valuations with problems, and we have a higher number with a higher interest rate. Cash management benefits from this point. In relation to segments, we are prepared, and we have been prepared for a while. We are improving the credit rulers. We didn't speed up so far because we believe it is a segment that when we have a higher interest rate, it will suffer more. We are more conservative. When the interest rate goes down, you can expect an expansion of the middle market with accelerated ratios. Our ROE is resilient, and there is some insatisfaction of our management office with the numbers we have today. We are positive that we'll be able to print higher ROEs than this one. Thank you. Thank you very much. Thank you, Ricardo. Next question, Olavo Arthuzo from UBS. Please. Good morning, Sergio, Barejo, everyone. I have two questions, and I would like to explore this margin with clients and then with market. In the first topic, I understand the entire repricing of the portfolio, higher spreads, and I compare with the window we had in the second half of the previous year. What I saw from the central bank data and what you reported in the second quarter, July is pretty strong. It represented a little bit more than 40% of the total result of the bank. In this first part, to understand the margin with the client, I would like to understand which are your expectations for the second half of the year. On the other hand, we have to consider what we saw in the data from our call showing a certain flatness throughout the last months. What I wanted to understand is basically the following. We have half of the portfolio that will receive a new pricing, this new level from the beginning of the year to today. Considering that, my point is, would it be possible to expect that the margin with clients to grow above what you are forecasting for the expanded portfolio? That I imagine it's going to be around 7%, 8%. Could we say that we expect a margin with clients expanding 9%, 10%? Would that make sense? I will ask my second question. Thank you. Good morning, Olavo. Thank you for your question. I will try to answer in a qualitative manner. Ricardo will answer the quantitative part. In fact, as I've mentioned in Ricardo's question, we emphasize a lot the spreads, always taking into account the expectation of losses. It's a risk return method that we have always done. There are moments in which we see, even with higher spreads, if the risk increased even more, this is not worth it. Today, we have a situation in which we have a risk return that is proper for the portfolio we are booking, but we cannot expand a lot of the portfolio at a speed that is higher, keeping the risk return at the adequate level. That is what I see for the second half of the year. A higher challenge, a bigger challenge, and that is why I indicated during the presentation that we possibly see the floor of the guidance as something more feasible. We keep higher spreads, and such higher spreads, as you have mentioned, have a cumulative effect because as older operations are due and new operations are hired, you have an impact in the accumulation from the margin with clients. Anything to add, Ricardo? You explained pretty well. The only point I would add is that it is interesting if we notice the data you get from banks in general. Central Bank reported to other banks from the end of last year up to the first half of 2025. There was a detachment from this data and what we saw in the capital market spread. These do not work. This does not happen always, but the market had more discipline in relation to how they classify operations. In relation to the Central Bank, there was a small increase of spread, while the capital market did not have this increase. Paying attention to the second half of the year, we should have this trend, and the banking market would have care when classifying operations as a result for an environment that requires more care. Thank you for your participation. You had another question, right? Oh, yeah, another question. First, thank you. Just to make it clear, could I understand that we will see margin with clients still growing above the expanded portfolio? Just a follow-up question. That is our expectation considering the information we have today. There is a trend of moving up slowly and gradually as we can classify our portfolio and a mix of products, of course. There are products that have higher margins than others. You have to take that into account. The answer is yes. Thank you. Quickly, the second question in relation to the market. I have heard about the appetite to risk and the liquidity. I understand that here you also go through the same energy, so could you elaborate what made this contraction we saw in the quarter that was pretty strong? If you could input in your answer, how was the contribution of the energy market in this? I will start with the end of your question. The contribution, we have an energy marketing business that started three years ago and is performing pretty well. It allows you to offer solutions from the efficiency point of view, energy efficiency, and energy consumption for major clients. In the past, we couldn't do that. A great part of that is in the margin with clients. Why? Because those are not trading operations. Those are operations in which you buy or sell energy from clients and to clients, and you take the risk of the client. That's why it is in the margins with clients and not margins with the market. We have a trade with energy that is necessary for you to have liquidity to offer good stuff to clients, but it's very small. It's something that won't move the needle in gains with market. What we had, in fact, was that the market had a stress in November and December last year related to the tax situation of the country. Throughout the first half of 2025, there was an improvement in the sentiment. In a way or another, we haven't seen that as an improvement that was supported by macroeconomic data. They are still pretty similar. That made us have a shy activity, even with markets and liquidity. Our liquidity was high, but the rates were compressed. We have a funding in which we have with our clients, even when we don't need cash, and that made our cash increase. In some moments, we had a liquidity of BRL 14 million, BRL 15 million, and we have as our equity BRL 6 billion. It's a huge liquidity. We are adjusting that to the bottom. At the same time, looking ahead, I believe the markets are stable. We can start once again to build a position. It's not a tight position. It's a banking position with a longer duration, and we can recover a little bit. That was a reduction due to a disagreement with the market dynamic and vis-à-vis what we see as a risk. Thank you, Olavo. Our next question from Brian Flores from Citi. Brian, thank you for your participation. Hello, everyone. Thank you for the opportunity. I would like to ask about capital allocation. I know that you have mentioned about the Tier 1 appetite, 11% in the previous quarter, now a little bit more solid. I know you need some movement with the live-time bonds that you've mentioned in July. Anyways, I want to ask, with the growth dynamics that you just mentioned, maybe in the lower bottom of the range, what should we expect in relation to capital distribution? Because there's still like a buffer to share among shareholders. I ask my second question. Thank you. Brian, thank you for your participation and for your question. Our policy for dividend distribution will continue. We'll continue as full distribution of what JCP allows us to. This year, the TJLP went up, and as it increased, our own capital also increased, bringing this dividend due of almost 10% that I've mentioned during my presentation. For the second half of 2025, we can expect the same policy. Keeping in mind that in previous years, we always kept this policy, and in moments in which the bank sees a perspective of portfolio growth in a faster manner, we propose to the board, and the board has agreed that recapitalization of the dividends, and each shareholder will decide if they will reinvest or not. At this moment, we paid the dividends, but we didn't go for the second part because we saw that this is adequate to allow the growth we have in the future. If ahead, in the next year, this perspective changes, we can go to the previous mechanism we used in the past. Great. I would like to ask also, you did a provision of BRL 190 million. I understand that there is a description, but maybe not according to the model. I would like to understand what happened. What happened that it made you to zero that additional provision? Should we think about any macroeconomic aspect if this is going to happen in the next half, just to understand the recurrency of this item? We always work. We always have that vision for credit provision, considering the current situation of clients and the credit that is a perspective. With 4966 directive, the methodology of calculation due to factors that are macroeconomic made us have a provision that we call prospective provision, that it is not cyclic, that will protect the bank when there is a longer past dues. As you saw, the portfolio has a good quality. We were afraid in the beginning of the year that if the interest rate at 15%, the economy as a whole would have a larger depression. At least now in our portfolio, this didn't happen. I know that, and if, when and if that happens, then this provision of this prospective option would be used. We always had that, and we used in relation to that retail when we had a loss that was unexpected, and it was outside the bank accuracy. Considering the macroeconomic scenario, the growth ratio of the portfolio, and the portfolio quality, we believe that these numbers are adequate, and we are not going to have some movements in relation to that, at least not in a close future. Just to understand, could we have any reversion if it is maintained as it is? Could we have a return to the previous numbers? At a certain moment, yes, but it will depend on the vision and the methodology that was implemented about prospective risks that involve mainly macroeconomic data, as mentioned. For now, what you can expect for a close future is stability. No new allowances, but if the scenario changes, things may change also. Clear. Thank you. Thank you, Brian. Now our next question, Pedro Leduc from Itaú. Thank you, Pedro. The floor is yours. Thank you. Thank you for the call. Two questions here. First of all, an agro portfolio, 22% of the total portfolio. If you could teach us a little bit of how you've managed that so you won't have problems of lack of payment in other payments if you can talk about guarantees, past due, and client profile. The second part about credits with FGI guarantees, for instance, that is a relevant part of the middle portfolio growth. How do you see the stocks available for the second half of the year? Thank you. Pedro, good morning. Thank you for your questions. In the agribusiness sector, we have 22%, almost 23% of our portfolio in this sector. There is a subdivision there. If you had grains, you have livestock and slaughterhouse, major cooperatives, fertilizers, input, seeds, and so on. It is a portfolio that is quite diverse in relation to products. What type of products? There is sugar and ethanol. It is geographically diverse because we are present almost all over Brazil, south, southeast, center, west, and so on. It's scattered in relation to clients. Credit problems in this portfolio, we always have, as we have everywhere. Today, in agro, we don't have a loss percentage above other segments. This relates to the cherry picking. We are a bank that, historically speaking, was part of the industry. Sugar and ethanol were quite relevant in the bank. The representativeness was reduced recently, but we are present in this segment. It is a sector that is fine despite all the weather conditions and everything, but the companies are well. We have an important presence in the south region, cooperatives from Paraná, Santa Catarina, a little bit less in Rio Grande do Sul. Those are cooperatives that are strong, and in the last 10, 15 years, they increased the level of governance in an amazing way. They made their activities diverse, many vertical. We have industrial areas, and the credits are good, and we enjoy it. We have also grains. Mainly grains in the center-west of Brazil is where the market has perceived more problems. In this part of agribusiness, we are historically in the major farmers. We had 25 names in this sector. Now, since last year, we started what we called agro initiative to go to middle-sized farmers, those who have from 10,000- 20,000 hectares in average of planted land. In the past, only those above 20,000 hectares. We were lucky with that to go to this segment in the moment in which the sector is facing difficulties. It is not that we already have exposure and everything, and we had a presence. We had a condition to be part with price and guarantees that were adequate in those farmers that we saw, that they were more capitalized, a good liquidity level, good production level. In my opinion, I see this hiccup in the segment as a major opportunity to increase our presence because we have a clean portfolio. We hired a quality team, not only for the commercial side, but also credit modeling and everything. We have a guarantee sequence that is well established. Despite the momentaneous hiccup, Brazil is pretty competitive. We had two or three crops that are good. We will prosper. It is a segment we want to be present, and we see with good eyes that. The second question, could you repeat, Pedro, please, about the credit lines with a certain guarantee from the government? They were relevant to the recent growth. I understand that the stock, how do you see the potential growth to keep on increasing this portfolio? The PAC lines, they were pretty important post-pandemic during 2021, 2022. From there, we reduced their relevance. The conditions changed. The insurance premium increased. We lost room in this product, mainly compared to other banks. We saw that happen in 2024. We got prepared once again, and we are speeding up our exposure. I do not have the numbers by heart. I don't know if Ricardo has, which are the exposure we have in these government programs, but it reduced in a very meaningful way. The expectations I have, considering what we have available and how we reformatted this from the second quarter, this will become more relevant than 2024. Not reaching the peak that we had in 2022, 2023, but recovering part of what we've lost. Great. Thank you. Great. Thank you. Thank you, Pedro. Next question. Antonio Altreche from Bank of America. Antonio, thank you. The floor is yours. Good morning, everyone. Thank you for your time to answer questions. My question is in expenses. You did a good job in the first quarter. We saw you below the guidance for the six-month period. I would like to explore that. What did you do in the first quarter, in the first half of the year, if we can replicate in relation to operational expenses? Thank you, Antonio. Barejo, please help us. Thank you, Sergio. Good morning, Antonio. Thank you for your question. In fact, this work of expenses is a work that we are doing now. We grew the expenses in the bank in 2021, 2022, and then we reduced the rhythm of growth in 2023, 2024 through operational gains. That's what we were expecting when we invested in the beginning of 2021, 2022. What we saw and what we see now is the result of all the years of investment and the benefit of the operational gain. Today, we have way more transactions, cash management, derivatives, guarantees, and the bank is prepared to have a larger operation field, but using technologies that we have been investing throughout the years. The question, if we can keep, yeah, the idea is to keep this level that we are working in order to be and eventually even a little bit better if possible. For what I understood, the greatest part of investment, we should be prepared to a larger operation of the bank. This was already done, right? Now it's just operational expenses aligned to inflation, and you would capture gains and leverage the operational part based on revenue gains, right? Yeah, that's it. We are ready to grow with this structure we have. That's it, Antonio. When we look at the bank ahead, going back to the structural ROI, we saw this opportunity of having a capture that is bigger, larger from an increase of marginal revenues that are bigging. That's what we call JCP. Great. Great. Thank you. Thank you. Next question, Carlos Gomez -Lopez from HSBC. Thank you. Floor is yours. Thank you. The question is about the perspective for the second half of the year. You've mentioned that it tends to be better. Clients are better, and clearly, you are more optimistic at the end of the first quarter. When we talk to other banks, they say that there is a reduction in economic activities and also a recovery. Do you see that, or you think we are going to stop at a certain point? Hello, Carlos. Thank you for your question. This is a matter that we have seen. We saw a cooling down of the economy, but this cooling down was expected. It is due to the high interest rate, but all the matter of reality versus expectations. Despite this cooling down, in our opinion, this is smoother than the one we expected. We are talking about an economy that is growing more than 2% per year this year, while in the beginning of the year, we thought it would be close to 1%. We see the dynamic of employment and other economic indicators that have dynamics that are above the ones we expected. However, we do not underestimate, and we should not underestimate the impact that a real interest rate of 10% per year has over companies. This is what takes us to this position of being conservative due to the loans. Credit committees are pretty restrictive. They are attentive to the impact that the interest rate and the cooling down of the economy has over the clients. All that being kept constant, the second half is better. Maybe we'll have, due to the recent data, an expectation of interest cuts, bringing better optimism and better dynamism. We are optimistic, but in a very careful way due to the seasonality, the positive seasonality of the second half of the year, and due to the fact that this cooling down is smoother than the one we expected in the beginning of the year. Thank you. Thank you. Can I add on the agro subject? You mentioned that you have problems being somehow controlled. Is there any legal problem or any legal people working with the credit? Is there a factor to expand in the grain sector? This legal recovery from rural farmers is a problem. We understand that we have an exaggeration of such instruments, but I believe that this is going to be a learning point for everyone. If we have rural farmers with good guarantees, and in this segment, a good guarantee is the farm as a more, well, the rural farmer asks for legal recovery. There is a suspension period in which all guarantees cannot be executed. This period, 180 days, the properties will be executed, and they will lose the farms. The industry, this legal recovery industry, lawyers who are supporting farmers to do that, they are promising benefits that farmers won't have. This will be a learning point to everyone else, those who will see farmers losing their properties. As I've mentioned, we have a small exposure. We started last year. We have 5, 10 cases, but we follow the exposure of other banks, and we follow the results also. I believe it's a learning point for everyone. Thank you. Thank you, Carlos. Now we've finished our Q&A session. I would like to thank you all for your participation. We thank you for being with us. I hand the floor to Barejo and Lulia for the final considerations. Thank you, Ricardo. I would like to thank you once again for the opportunity to be here. I hope to see you soon. Thank you. Same thing. Thank you for the participation, and we will soon see each other in three months. Have a lovely day. Thank you, Lulia. Thank you, Barejo. I also thank you for being part of our conference. The presentation is available at our website. The video will also be available in our YouTube channel. If you want to see our audio, it will be available on Spotify. Any further information, the Investor Relationship Department is available to help you. See you in our next conference. Thank you very much.