Morning, ladies and gentlemen. Welcome to the video conference of Banrisul to discuss fourth quarter results and the year of 2022. This video conference is being recorded and replay may be accessed in the company website, ri.banrisul.com.br/en. The presentation will also be available for download in this platform chat. We'd like to inform you that all participants will be only watching the video conference during the presentation. After that, we'll start the Q&A session when further instructions will be provided. Before moving on, we would like to reinforce that forward-looking statements presented here are based on assumptions and beliefs of the company's management. These statements may involve risks, uncertainties and assumptions as they relate to future events and therefore depend on circumstances that may or may not occur. Investors, analysts and journalists should be aware that events related to the macroeconomic environment, industry and other factors could cause results to differ materially from those expressed in the respected forward-looking statements. Today, are present in this video conference Mr. Cláudio Coutinho Mendes, CEO, Mr. Irany Sant'Anna Júnior, Deputy CEO, Risk Officer, Mr. Marcus Vinícius Feijó Staffen, CFO and IRO, and Mr. Osvaldo Lobo Pires, Credit Officer. I would like to call Mr. Cláudio Coutinho Mendes, CEO of Banrisul, who will start the presentation. Please, Mr. Coutinho, the floor is yours. Good morning, everyone. Thank you very much for joining this call to discuss results of the fourth quarter of 2022 and the year's results. Thank you. Before I start, let me tell you that 2022, it brought profound and deep changes in the bank. It incorporated changes that have been done in the past four years, especially the change of our logo that brings new concepts and new branding for this bank. This bank is a more inclusive bank, a more technological and more sustainable bank now. This brand that was launched in 2022 is for all of our stakeholders, collaborators, employees and clients. It shows that Banrisul is tuned in with our time. In ESG, now let me tell you that Banrisul had an amazing year in terms of performance in ESG. Starting, provided with renewable energy. We migrate to better performance that... In one... Also... This hopefully will also... We are... [audio distortion]In 2023. Charit- throughout SRD is on permission program. During 2017 and 2017... We now are adding to the new sleep aid. I...[audio distortion] Including with an excellent quality default on 3.9% default. In consideration the quality where default level is 26%. Low is low. They have 390 days qualities in AC 4% of our portfolio. Hard credit only. If I totally leave, then there will be bank with us. Our improvement in our program are% and our ROE from 11-15. [audio distortion]. The expected margin net interest income has to do with the reclassification of payroll portfolio based on credit. They are being considered since last year. Net interest income would pre-master 20% in loan portfolio, and net interest income BRL 100 million. Quarter representation for folks on both incorporate for Q4 2022, 80% compared to Q3 2022. Year is performing%. [audio distortion] Its margin has been growing gradually. What the ROI of this period? Interest income grew 9% if comparing the 11%, I'm sorry, if comparing the previous quarters. This has to do with based on a stable Selic fee. It's a diversified and low cost. Our cost of CDBs is 35% of CDI, and the total capture is 77% of fully competitive and basically it's diversified. It comes from individuals. This funding comes from individuals based on our bank branches. We continued very disciplined in terms of containing risk. If you re-look at total risks, they grew 6.7% year-to-year. If you exclude expenses regarding variable costs, we have other administrative expenses, which grew 5.9%. Basically have to do with the inflation in the period. 6.8% has with staff expenses. Also connected our voluntary termination program under the expected for the total costs of expenses in Banrisul. We have the available index around 70%, very comfortable levels with this Selic rate. Believe in continuing growth of Banrisul and we'll be able to maintain the payouts that's being practiced so far. Into 2022, we affirmed our strengths in terms of loan portfolio. We made it grow, leveraged by agribusiness. We also made structural administrative adjustments which led to savings and also a modification regarding the rebranding of Banrisul. Marketing from this year. Money answer customers greater sales of goods and services. We'll continue our portfolio repricing, with the main driver being the margin growth. We will maintain cost structure under control, even with an addition in staff. Gradual recovery of profitability is expected with sequential improvements. I would like to close this presentation of our results for the fourth quarter of 2022. We open our Q&A. Thank you. Thank you, Mr. Coutinho. We will soon start our Q&A session for investors and analysts. If you want to ask a question, please press the question button, and then click on Raise Your Hand. If your question is answered, you can then leave the queue by clicking on Hand. Host now our Q&A session. Our first question comes from Flavio Yoshida from Bank of America. Good morning, everyone. Thank you, for the opportunity. I'd like to understand here two points. The first has to do with the payroll loan portfolio. This has had a reduced growth in this fourth quarter. Which was the reason for that, what can we expect for 2023 in this field? My second question has to do with the guidance for margin and costs of risk, cost of credit. What is implicit in this guidance, especially, it has to do with taxes and service fees. Thank you. Thank you, Flavio, for your questions. Our CFO, Marcus, will answer them. Right? Marcus, the floor is yours. Hi, Flavio. Thank you for your questions. Well, in terms of the payroll loan, in the last quarter, we had an adjustment in our commercial strategy with our correspondents that... The main deceleration comes from that. We had a boom in the first three quarters of that year. In the last quarter, we decided to focus on working on our portfolio, our existing portfolio with them, with correspondents. It was more of a reaction in trying to work with a basis to try and improve the margin in this portfolio. I mean, if you break down in terms of credit underwriting, it goes down in this correspondent, especially to work and gain in stock rate. When you look to 2023, we have our own credit underwriting network in the same magnitude for our guidance for individuals, two digits lower. It has a potential, especially when it comes to INSS, because more margin will be released from January on, and then we'll be able to better work with this client. Maybe the main take-home message when you look at the payroll loan, is that the driver is that the more we have pricing projects, we can have more income, more revenue. Regarding the guidance on service, revenue and taxes are liquids. Service has to do with what has been done in this year above the inflation. This is a parameter. In terms of taxes, I would say we can expect to have a specific number guidance, but nothing so different, maybe 18%-23%. This figure is reasonable, I guess, for us to work with. Thank you very much. I understood. We have [Matheus Heck from Arbman] Investments. Hello. I have two question regarding credit, loan. Rural credit has become more and more representative in the general bank portfolio. This will lead to one of the main growth moving forward. Which is the average rural credit rate the bank has provided in the past few quarters? Do you believe there's space to increase this rate, or is this credit line that is more competitive with major or higher pressures? Thank you. Marcus will answer this question. Well, I believe that rural credit performance is in fact outstanding. We can work on this line with a growth above 60% in that year. This growth can be explained by costing areas. We have a for ceiling related to that. More than the rural credit rate, I would say we could work with spread, which is not so different from what we do with real estate credit spread, 4%, 5%, depending on the deadline or the type of line or the orienting of funding. If we're going to focus or to try and understand, I would work with this figure. There are pressure, we suffer pressure, the bank has been growing its market share very importantly during this past periods. I don't know, would you like to add something? Good morning. I think our another part of our strategy is to focus on family agriculture, small producers, small growers and average-sized farmers, help them grow. During this period, you can work with client loyalty by providing them with solutions in a supplementary chain. You need to understand their demands and be able to provide to them our supplementary products and have a lasting relationship with this type of clients. Our next question comes from John Paul from Consultec Engineering. How the bank sees the efficiency rate and how can you improve your performance in this field? Thank you, John Paul. Marcus will answer your question. Well, I believe we can see the efficiency rate. Taking into account it's two sides, like, in terms of costs, the behavior of the bank was to maintain controlled expenses. Our expenses are under control in terms of staff, and other administrative expenses. We are clearly aligned with inflation and moreover, when you look at staff expenses, they are. We have been following the guidance and we had a change in standards in terms of costs. We wouldn't see a substantial change to compose the efficiency rate. Now, considering the net interest income as demonstrated in the previous quarter, we had 11% growth. Somehow We could have achieved that before, but some aspects of the loan or of the payroll loan have decelerated this. When we look at the payroll loan portfolio, taking into account the picture of the last quarter of the year, roughly 50% of them, 50% of this portfolio, is already repriced, so we can work on that. Another important figure, just for you to understand its magnitude and to understand that this is a movement that is not done all at once, is that when you look at our payroll loan, in-inventory, it shows an interesting potential to keep on adding value. The guidance, in terms of net interest income is 19%-23% robust growth if compared to 2022. Bringing a more clear rationale to the market, when you look at the last quarter, the net interest income, if we annualize this would account for 10% of growth if compared to 2022. Moreover, if you look at the month of December, which was the last month of the quarter, BRL 450 million ran in the net interest income. This figure would provide us 15% growth over the basis of 2022. This number alone. This is very solid, and there is a potential to grow this margin of a robust potential for 2023. This is the main driver when you consider the growth in return, the growth of results, I mean, the results for Banrisul. Our next question comes from Eric Ito from Bradesco BBI. Mr. Eric, the floor is yours. Good morning, everyone. Hello, Coutinho, Marcus, and team. Thank you for this opportunity. I have two quick questions. Regarding the net interest income you've just discussed, just let me link this with Selic interest rate in Brazil. The marketing general, from the third quarter on had a drop. If you can remind us of this, which would be the sensitivity? Does it grow? I mean, does it fall faster or slower? My second question is: How do you see the NPL dynamics for this year? Do you expect a growth in corporate clients? I mean, if you think we have a series of company, they are facing difficulties, maybe bankruptcy. How do you of NPL? Well, we can start talking about default, later I'll talk about the margin, the net interest income, okay? Okay. Before I talk about NPL, the portfolio has been growing. We monitor this and have several parameters. Obviously, we follow crops, for example. To mention our portfolio as a whole, including the agribusiness portfolio, has a diversified carrier in agro. We are very focused to Pronaf and family growers, family agribusiness, and medium-sized farmers. We expect a drop, but a small drop for the next period. Regarding NPL standards of guarantees and operations, it's important to highlight, as our CEO said, we haven't changed or gotten rid of our philosophy. Which is to structure operations and have good and solid guarantees. Our strategy to diversify per industry type of company, economic group, and focusing on having a diversified portfolio has protected us, and we have managed to achieve this default rates, which are good. We fight, we struggle to maintain them or even improve them, get them a bit better. Better than making the portfolio grow is to make it grow with safety. This is what our results reflect. We are very at ease regarding this issue. Sorry. I think we're safe. The bank has been doing its homework, really concerned with these topics and working pretty conservatively. Ours is a defensive portfolio, as our CEO said. The payroll portfolio is a defensive strategy by nature, as well as in the work with the agricultural sector. We focus a lot on the rural portfolio. Last year, when we had a drought, a strong drought, there was no problem regarding a rise in default. We have in terms of corporate clients, we mostly work with medium-sized and small companies with guarantees. We believe we are safe, even if there is a storm out there in the market. We believe we are sailing in a safe place, in a tranquil area. Just let me add that we keep on our discipline. We do not work with large corporate clients that could lead to a big default. We have our risk pulverized, let's say. It's a diversified risk, based on our guaranteed loan platform, so we believe we'll be safe. Just the first part of the question regarding the net interest income, this growth, as I mentioned before, it has to do with repricing and the growth of our portfolio. When we consider this line, and we think of up to 23%, there is a projection of our estimate of a final Selic interest rate that is going to go down. We work with a figure of 12.5%. NII will be impacted in around 1%. Almost the totality of this comes from the growth and from the business with our portfolio. We have questions from Antônio Morais, Luis Bonato, and Mariana Feinberg. Good morning. Congratulations on your results. Which would be the payout you're planning for 2023? I would like to see if the dividend policies will be the same in 2023. I would like to understand more about the announcement of dividends and if you can follow the policy of Banco do Brasil, which announced the agenda for payments, the schedule of payments for the year. Our payout hasn't been approved yet, but we believe it's going to be maintained, the policy we. Levels of remuneration will be maintained, the levels the bank has been working with historically. I don't see any substantial changes on the horizon. Even because if we consider the capitalization basis of the bank, it's pretty solid and pretty safe to keep on growing with at the same pace. Regarding a payment schedule, we will take this idea to be discussed, and we will discuss a defined schedule so the market knows about previous schedule and the dates when these dividends will be distributed throughout the year. We accept the last question of this results video conference, and at the end of the answer, the company will make its final considerations. We have a question by Eduardo Beaumont from Compound. Congratulations on the results. According to the re-release, the balance from work-related provisions went from 27% to, from December 2021 to December 2022, with an important rise of BRL 345 million. How do you see this trajectory for the next quarters? We repriced and made the estimates for work-related and labor related regarding collective wage, a collective wage agreement. We completed this by the end of 2022. We measured the provisions of the individual lawsuits, and now also we've done the same for the collective ones. We hope we won't have this impact in 2023. We expect to come back to the normal period. This amount, which was high in 2022, which was accumulated, we believe that this amount will not be the same, will not be reproduced in 2023, because we have already made the provision of losses for 2022. I believe we made. We repriced the liabilities. It was included in the balance regarding individual and collective lawsuits, and it has to do with the loan loss provisions that we made. Now it's up to us to treat this stock, to treat this inventory. We made important agreements last year. We can reduce some lawsuits which were mature. Probably this will be the major work of this year, to reduce the stock, to reduce these values, these amounts that can impact our balance. The pathway will also be positive, I believe.