Hello, good morning, and welcome to Itaú Day 2022. I'm Renato Lulia, Director Head of Investor Relations and Market Intelligence of Itaú Unibanco. In the second edition of our 100% digital meeting, you will be updated firsthand with the strategies and initiatives of Itaú Unibanco for the building of the future, having the main guiding light on this, focusing on the client. We are going to start this morning with Milton Maluhy, CEO of Itaú Unibanco. We are going to have the opportunity to follow up on a talk with the co-chairmen of our board of directors, Pedro and Roberto. After, we are going to watch four panels with all the members of the board of directors of the company. Each panel is going to deal with a specific the me. We are going to have the Q&A session. The questions can be submitted via WhatsApp. For that, all you have to do is click on the button here on the platform if you're watching through the website. If you're watching through our YouTube channel, please scan the QR code, use the WhatsApp number that's appearing right now on your screen to ask your questions. Now, those are not answered today live. Please, we're going to get back to you with our IR team very, very soon. And now I will give the floor to Milton Maluhy, our CEO. Hello, everyone. Thank you, Renato. It is a great satisfaction to be with you in our second Itaú Day. All throughout this morning, we're going to have the opportunity to share with you how we evolved in the fronts that were presented last year. And the most important thing is to look ahead and talk about the future of the bank. All throughout these last 18 months, we are implementing and going through a very important cultural transformation based on an obsession with the client. We have to understand the client's pain, react quickly, and service in the best way possible. That means building the bank with the client and naturally using the technology to accelerate even more this journey. We are gathering the results of having a more digital culture and a mentality that is more agile in operating the bank. We're working with communities, product areas, business areas, technology areas all together, a model with less hierarchy, more autonomy, and more agility, translating in attitudes a phrase that became a mantra for the bank. We are working in teams, and this posture that we're working for the client is already starting to show expressive results, as you will see all throughout this morning. That without forgoing our financial performance, because we're moved also by results, of course. Now, we have delivered consistently a very good profitability. We have built a successful brand. Our employees are among the most satisfied, and we have a positive impact on society. This is a good summary of our ambition that goes through three fundamental elements. We are focused on the client, a quick organization, and modern organization, sustainable growth above the market, and we are going to be the first choice of the clients. We are the aspirational destination of talents, and we want to be the best for our shareholders in the long term. The complexity of the scenario and the behavior of the client, the competitive environment, made us review our values so we can then will guide us day to day. After our analysis involving several multiple areas, we launched the new culture of the bank. So the results are the essential and directive behaviors and attitudes for us. We started with the central core here in Itaú Day, and we have the data that are followed. They're based on the focusing on the client. The bank has over 65 million clients, natural persons, and 67% of these are engaged. So most of them have 100% of their financial needs with us. We have the most engaged clients that are more profitable, and they're happier. We have a share of wallet of credit, which is 50%. So the bank is taking on 50% of the risk of the credit with these clients, almost three times more than the non-engaged clients. The NPS is one time, one and a half times more than the unengaged. The churn is four times less. The revenue is 10 times over the unengaged, and last but not least, there is an increase in 1% in the base of engaged, generates an incremental BRL 1.2 billion per year. More than focusing on profitability, we have to maximize the satisfaction, and this is our inception point because we are focused on the client, and for that, we structured the engagement machine. With that, we clusterized all the customer base and we serviced their needs, and we have tried to find the best talk with the timing that the client needs. 87% of our offerings are based on the profile of the client and their rhythm of growth of the engaged. Engaged clients are more accelerated than the total clients. We had over two million new engaged clients just in the first semester of 2022. We will follow this way, improving the journey of the clients, revisiting the processes, trying to find efficiencies, and trying to improve the experience end to end. We are always learning, and we don't know everything. We have the humility to recognize that we don't know. We don't have all the answers. We are always learning from our own clients with the competition, with other industries, and with our own mistakes. This new obsession with the client has led us to several initiatives all throughout the year, as you will see all throughout this morning. Another theme that is very important that is in our sustainability agenda. We always had that in our DNA based on our culture, and it's based on our history. We are accelerating in our agenda. We don't have the objective only of doing new M&As and partnerships, but we have a single focus of improving our ecosystem and improving the commercial proposal and improving the value proposition for our clients. We have to identify our strengths and what are the strengths that are being developed in the market so we can associate and do any acquisition. As I told you in the beginning, the cultural transformation is in the bank, and that will lead us to enchant our clients. Added to that, we have to be sustainable, and we don't have to only be big. We have to be quick. We cannot only focus on the client. We have to be obsessed by the client. We have to be profitable. We have to have sustainable growth above the market, and you don't only have to be aspirational. We have to have solutions for diverse groups. We have to be reliable and also modern. We have to have an absolute focus on difficulties and demands of our clients. Well, we understand that Itaú will always be of the size that the client desires. We have to have an agile and entrepreneurial mindset that learns with new cycles of tests, mistakes, and mapping the risks. We have to have a team with thoughts, origins, and experiences of life that are diverse to build solutions that are better for our clients that are diverse. With this message, I would like to invite our co-presidents of our board of directors, Pedro Moreira Salles and Roberto Setúbal, so they can share with us their impressions of the current moment of Itaú Unibanco and the financial industry. Pedro, Roberto, the floor is yours. Oh, thank you, Milton. Now, I'm going to adapt here with your final comment, and I'm going to ask Roberto how he is seeing this year we've had in June of 2021, well, September of 2022. A lot of things changed. Roberto, if you can tell us about this first year and a half, or at least this first year since we have been here in the last Ita ú Day. How do you see it? Well, I see that we started very well. This first year of the bank, year and a half of the bank, post-pandemic. The pandemic is over, and this is a new period. This is a world in change that we have a new change in the market with the end of the pandemic. This executive board, this executive team is a new generation of executives that really fits the bill of the moment. We are doing a great job, and I think that we need to change. We are undergoing a transformation, and the bank has taken another step ahead in terms of growth, in terms of clients, in terms of businesses. So I see a lot of dynamics, a lot of focus on the bank. To start, this first year and a half for the executive group, and everybody has been starting and everything is renewed. We started very well. Specifically, this new generation that is taking over the bank, I think that they come with a spirit of change and a change that is very important so we can adapt to the new world, to the new moment of the world, and a change in culture. We really discussed, and it was proposed by the board, a very important change in our elements that are based in our culture. How do you see that change, Pedro? Well, I have to agree with you with your evaluation with what happened in the bank over the last year and a half. The issue of culture is fundamental. It's not a new theme. We started to deal with it since we started with the fusion in 2010 so we can adapt our way of working. In 2015, we had another adaptation because things had changed already. You were the captain, actually, of that change. Now, Milton, in 2022, May of 2022, has presented to the bank a new posture that, in fact, values those that direct our behavior, our attitudes. We reduced that block of 10 attitudes. Now it became seven, and now we simplify it. Now we are being very direct to the point. We are saying that we are working for our client, that we don't know everything, that we actually will work in teams, that we want diversity, and we are moved by our results. Everything is based, all of this is based in something that never changed, has never changed, and will never change, which is ethics. That's non-negotiable. It was launched in May of 2022, if you remember. This is percolating all throughout the bank, and this is a big understanding that we have a very adequate response to the challenges that we are seeing. And once again, we are working for our client. What does that mean? We want to work, well, we want to work in teams, vai de turma, as we say in Portuguese. There is a great adherence, compliance to this. It was discussed. It was all thoroughly discussed. It was a work that was first started in the bank, and then we went through the board and went through the People's Committee, several rounds, and intensive, very intense discussions, and then at the end, we finished with the discussion at the board, still at the end of the first quarter of this year, so I think that there is an involvement, a very intense one of the Itaú Unibanco community and a great compliance with what is being proposed. I think it's very current, and it meets the requirements of great unmet needs that we had to see, that we had to, there were triggers. There are actually triggers for a transformation, so I am certain that this is a very important step, and it is also the step of our transformation in technology. Last year, we already mentioned that. We were saying that we were going to be 50% in the cloud at the end of the year. We're moving towards that goal. But it would be better to actually rethink those goals because a lot of things have taken place. So I ask you, how have you seen, how do you gauge our advance? Well, I think that we're going through this transformational moment at the bank, and I think that you described very well the cultural transformation. Actually, this is a big evolution. It's a great evolution of everything that we have always longed for at the bank. And now, in terms that are more connected to the moment that the bank is living, the moment that the world is going through this transformation. And certainly, with this transformational process, technology has to be hand in hand with the transformation. The market has changed, has changed a lot over these years. We've had several new companies bringing new technologies to the market that actually challenged us, clearly challenged us, and that is very good. We rose to that new challenge. The bank is reacting very good in regards to this, and we're walking very fast to taking the bank, for example, to the cloud that would give us more longevity, more capacity to move in this market of permanent transformation, and if you gather technology with culture, you have to work hand in hand. If you transform the bank in a community in squads that will gather these technological possibilities that will grant the bank technological agility, it's a transformational process with a team that is a new generation. Therefore, our reaction, our technology reaction has been very good. I think that until the end of the year, we're going to have our business lines in the cloud, and also we're going to have the conditions to evolve and grow quicker and answer the market quicker and to provide more satisfaction for our clients. More than ever, we have to be focused on our client. And how do you see this new focus on the client that we are bringing to the bank? And we are really highlighting on this point. I think that this is something that we will realize that we actually took a leap with this new culture. This is the first item. We work for the client, and I think that this is being disseminated. This culture is being disseminated all throughout the bank. And this provides several huge changes. We have product services, pricing, customer service in the experience of the customer in every channel, whether if it's customer service, remote, on-site. So I think that this has, in fact, became the central discussion of the bank. I am certain of that. We have a lot of things to do, but the fact is that our NPS that was introduced five, six years later, it's advancing year- on- year, and we have taken a 15-point leap when it was 2018. The objective is 20, so we are in September. We are going 15. We're missing 5, and this is the discussion within the organization. And we saw the board. We talked to a lot of people. I see a lot of people that follow on the wholesale, the discussion of focusing on the client. And we see that this is a new growth. We see a growth in the base of clients from one year, well, 2021 to 2022. It grew 16%. We have 65 million clients, natural persons, and 25 million. Well, we have millions of companies. A growth on this base of this dimension is because we are doing things right. We are doing things right, and that is the result of this phase of growth. Last year, we are defending ourselves. We have to go to the attack. You talked about technology. You talked about culture. The bank is ready. We saw our top line that has grown in the order of 15% to 16% in a scenario that was not the appropriate one, I would say. It wasn't very foreboding for growth. This is growing of the credit portfolio, growth on services that is above 10%. The bank is reacting, is reacting very well, and it's reacting because we understand the needs of our customers. I'm very excited with what I'm seeing in that sense. I agree, Pedro. I think that this is a great change in the bank, and we are focused on the client. We saw that there is a series of numbers, that there is a growth in the bank, in the amount of customers. Also, I see that not only the numbers, but a lot of concern within the bank, a lot of effort in focusing on the client. I see as an example of what we see in the internal changes of the bank, and it's not only a speech. These are elements in that direction. We introduced in our goals of all the employees of the bank, the customer item. So somehow, the customer is present. Even in the more core areas, it's present in their goals. And this is a great transformation. And it's not just as an NPS per se. It's not a generic goal of NPS, but several improvement goals that we have in our processes, in our service, in our systems that will, in fact, materialize in clear improvements for the customers. This is very important, and it shows the focus that not only financial focus in the bank, but also you share the finance with the focus on the customer. And also, I see, Pedro, that it's very important that Milton is doing a great change in the bank, a big change in the internal organization of the bank in such a way that we can generate at the Board of Directors level, focusing more on customer. This is an area that is very focused on the customer and really focusing on the level of the customer. So I truly see this transformation that you mentioned. I see numbers. Really, improvement in numbers, improvement in our statistics, and I think that's really part of our DNA. I think the bank's DNA has fundamentally changed. It's not just financial in nature. It's now customer-centric. Given this, we are no longer on the defense. We are on the attack. We are proactive. We're proactive. We're on the attack, and we are looking to move into new market bases, and we are competing against the new entrants, and they are challenging us, and we are responding and understanding that we need to improve. We are improving. When we have to evolve, when we have to change, I understand. I agree with you, so we embrace this change. I think we're on the right path. I think the first step was understanding that we do need to change. The second step was kicking off this journey of change. And now we are in the middle of our path to change, path of change. And I think that's the real important message. I think we're going to have great support in this change. And truly, things are developing as they should in the right direction, going in the right direction. I agree. We see this. We see this at the bank. The whole setting, it feels different. The ambiance is different. Just look, let's just look at NPS. But what about eNPS, employee satisfaction? It increased 10%, up to 83%, which is great. And I see that we've got a convergence of our business models. Last year, we discussed the fact that the rules have changed. We saw that there were new mechanisms. The market has changed. It has fundamentally changed. It is no longer the way it was. Growth is important. The capital market is important, and the capital market finances this growth. But now we're looking at results. Results can't just be really low. Results can't be really low. We can't just have low income, low revenue, high revenue. There's so much more involved. Now we need to adjust to the world as it is, and I think this is very palpable in the organization. Our ability to compete is very strong, and we see this growing. We're more competent, we're more engaged, and I think it's a far more interesting path that we're treading, so I really think we're at a very, very favorable moment for the bank. Do you agree with me? Absolutely. Yes. We see new competition. New competition has come in at a moment when the entire world is facing mass transformation. We see interest rate hike throughout the world, with difficulty with the capital market, with inflation worldwide. These are problems that we face as well as part of the world. First, we absorbed these problems, which is being customer-centric, customer point of view. We first worked with that, and now we're looking for financial results, and we need to present this to the capital market. I believe, I think we're in better position to compete better now. If you offer low prices, subsidized prices to attract customers, it's a short-term goal, and then I think it becomes more onerous over time. We had this very strong customer-centric change within that really helps push these financial results without. So I think we're very well prepared. We're very well positioned. I think we're going to continue showing strong results. I think this is a part of our DNA, these strong results. And keeping in mind the customer point of view is absolutely critical for continued growth and continued change. Obviously, we don't ever want to lose focus on the bottom line. I said something a few years back, which was that business executives need to be not just executives, but need to understand technology so that they can really take advantage of the opportunities available to us. I would say not just understanding technology, but understanding customers is absolutely critical. And it all goes hand in hand. Technology has to serve customers. Customers have to serve technology, leading to bottom lines. All of our skills, competencies need to be complete and to complement each other. I think that's where we stand right now. As the bank evolves, as the bank changes, this is where we're focused, and this is our future-looking concept. So I would now like to head back to the executive committee, where they will show what's happening in each of the business departments. In fact, we're going to see some of the videos regarding some of our customers. So have a wonderful morning. Wonderful day. Have a great day today. Thank you so much. It's been wonderful to be here. Thank you, Roberto. Thank you, Pedro. Now we've got a number of panels. We've got executives here. We'll be talking about a number of different topics. We're going to have a statement from different customers and what they expect of our bank. So let's see the first video. What do they expect of this bank? When you still think about banks, you used to think about your manager, a person wearing a tie. That's what you used to think about when someone said bank. But that's no longer the case. This is no longer your bank manager. And the reason for this is that now managers need to have their sleeves rolled up and be involved and understand what their customer needs. And the customers are going to choose how they want to interact with the bank. Is it going to be online? Is it going to be through an ATM? And the reason I'm telling you this is because now you see managers dressed like a regular guy. They're no longer wearing a fancy suit. Their sleeves are turned up, and they're ready to jump in. This may seem like something small, but it really isn't. This is a way to bring customers and managers closer. What I expect of a bank is that it shares a vision with all of the stakeholders. It can decrease inequality. It can really promote equality. What I think is that we need to work closer with the banks and with the managers. I think it needs to be modular based on technology. I think we need to have flexibility to offer the best solution for our customers. Not just because I have to have a contract, if the contract requires it, but because that's the nature. Something else that's really important for us is an open platform. The financial market is increasingly more competitive and global and looking for solutions, different solutions, several solutions, not just one single solution. We're looking for open platforms. So if you've got a closed platform, all you're saying is, "We're here and you're there." You're not going to be able to offer the right solutions. So this open platform is absolutely critical. Something else that's really important is the ability to talk to people who understand, who have this mindset, overall mindset of this change. Good morning. I'm Sergio Fajerman, and it is a pleasure to be with you here once again to enjoy this cultural transformation. Culture is not a new topic for us. To the contrary, it has been very important since the beginning. It's part of our identity. In 2010, we launched Our Way, and we updated and reviewed how we act. However, the complexity of the world we're living in today requires us to review our guidance and how we operate on a day-to-day basis. I could list a number of changes, market changes, competition changes, and customer behavior changes. All of this will demand that we embrace these changes and employ new business strategies and have new attitudes and behaviors in order to achieve these objectives. Cultural transformation is a priority. And that is why we have been working with multiple team members from a number of different departments, looking at trends, looking at the market, listening to the teams, to the leaders, and to our customers. And the results are new, essential values, guiding values that will guide our new attitudes and behavior. This will make us all very true Itaúbers. I'm going to start with something that's new, but it cannot be negotiated. This is the value of the cultural asset of Itaú Unibanco. It has been guiding all of our actions for nearly 100 years. We have kept this value unchanged because we are based on ethics. Ethics is non-negotiable. Ethics is not reviewing what is current. It means there's no shortcuts. It means we have to analyze risks. It means that we have to be present at all times as our culture changes. It is the basis of all other values, and it is essential, and it guides every one of us. Ethics as the basis is the key element of our existence. As you know, Itaú will always be the size that the customer desires. We work for customers. Being an Itaúber is to be connected to the customer. It is to understand the customer needs, and it is to make things simple for everyone. It means working not just for customers. It means always being guided by the following question: What are we investing our time and energy in? If the answer is some sort of bank bureaucratic process, that's not what we want. To truly understand our customers and offer the best solutions for them, we need to constantly be learning. We don't know everything. Being an Itaúber is to look out and understand and learn every single day. It's testing, trying, learning, and improving. Being an Itaúber means using data to understand and make the best decisions. With exponential changes, these exponential changes in the world, we need to be humble enough to recognize that we don't have all the answers. Learning all the time, as many possible ways as we can from everyone. We learn from the customers, we learn from the competition, and we learn from other industries. It also means having an agile mindset, being entrepreneurs, having the courage and learning with the cycle of testing, getting things right, getting things wrong, being clear, understanding the logic, and mapping our risks. In addition to this, we need to understand the intense use of data as something that sets us apart for decision-making. When we take this knowledge and these diverse experiences into account to create solutions and to solve problems, the results are powerful. Being an Itaúber means knowing how to work with autonomy. It means helping and being helped and asking for help. It means being Itaú, and this starts with a trust that you build up on a day-to-day basis with small, minor changes, with changes in attitude. It means asking for help. It means being clear and respecting and asking for help from other Itaúbers. It means generating trust and having a safe space to work together. It means understanding each person's role. It means offering and having autonomy. Something else that's important with this value, and that despite working in a number of different business areas and products, is that for customers, we're just one single Itaú. We break open these silos, and it's an invitation to add up, to join together, to multiply and not to divide, and that is important. It is important that we talk about the diversity, diversity at Itaú. But it goes beyond just talking about it. This is an organizational value that we believe in, that defines us and should guide our behavior. We want diversity. To be an Itaúber means to be diverse with our customers. To be an Itaúber means to be open to different points of view. To be an Itaúber means to be yourself and to transparently express yourself. We need a safe setting to be ourselves so that people can express themselves and they can authentically offer their points of view. We need to be open to expose risks and to other sensitive questions. We have to be a team of thoughts where we listen to different experiences of life, and we can therefore build the best solutions for our customers who are diverse. We are an organization that has this great ambition. That's nothing new, but we need to be as efficient in execution as we are ambitious in our objectives. We are moved by results. To be an Itaúber is to be ambitious in terms of our objectives and execution efficiency. It means always looking for sustainable growth, and it means generating positive impact on the world. Itaú Unibanco will be the size that our customers desire. There is no sustainable business without results, and there are no sustainable results without satisfied customers. This brings us back to the beginning. We work for our customers. We are very excited because we believe that we have here the elements that we need to achieve this success that we seek. Transformation has already started. Change has already started, but the path is still long, and what we're looking, what we're seeking, will only happen if we truly change within. Building a new Itaú means a change in each one of the employees. That's it. That's what we need. Let's work together because Itaú won't stop, but before I pass it over to Ricardo Guerra, I'd like a product manager to talk to us, a Brazilian product manager to talk to us. I'm from Amazon Web Services in Brazil. I would like to thank Itaú for the invitation to talk to you about the market and what has brought companies to move into cloud, and why are they working with computation in cloud. There are five different reasons that companies are going for this. One, agility. Customers can adjust very quickly to their customer needs. Two, cost savings. When we adopt something new and we get rid of that, we lower fixed costs and variable costs. That's just one way to make progress. Three, elasticity. Companies can be flexible with the resources that they have, and they can decrease costs according to their business needs. Four, innovation, innovating quicker and better using the resources or projects. This will make the company much faster and more transformative, and number five, cloud computing allows us or cloud operations allow us to work quickly throughout the world in a question of seconds. Once again, thank you so much for the opportunity to talk to you on Itaú Day and to be able to take part in this innovation and transformation journey starting with Itaú. And it's going to put Itaú at the forefront of tomorrow. Thank you so much. I hope you're all doing well. I'm Ricardo Guerra. I head technology here at Itaú Unibanco. You just heard a bit about the potential of the cloud from Cléber Morais. He's the country manager from AWS, and it's our partner company in the digital transformation journey. Last year, I shared with you our strategy to become a more digital company. That means we're going to be more customer-centric. Today, I'd like to share with you some of the practical results that we are already enjoying from changes in how we work to changes in our technology platform and migration to the cloud, which brings all of the benefits that Cléber already mentioned. Last year, I talked about our objective to reach the end of 2022 with about 50% of our modernized platform operating in a public AWS cloud. Now, I'm happy to say that more than 30% has been rewritten and is operating the platform, and we have maintained this ambition of 50% by the end of the year. We're trying to remember that we're doing more than just migrating the services to the cloud. We are rebuilding this platform. Remember that we had a monolithic architecture that was built throughout the decades, and in that way, we are trying to generate more speed in the building of products and aggregating more value for our clients, exactly just as we heard from Diego a short while ago. As we've done here, we reduced a lot of the time that was necessary for the development in our solutions, and we incremented in over 700%. When we compare to 2018, the volume of monthly changes in our platform each month, we do over 4,000 updates in our public cloud, a number that is eight times larger than the whole number in 2020 when we started the modernization and large scale of our programs. Our new digital channels are among the solutions that are running in our platform. We have the new application of the Pix, for example, that we can deliver the best experience for our clients day to day. We know that there is, well, we need the cutting-edge technology, but we need to go through this journey, but we need more. We need to invest in a work environment that allows for innovation from our employees and that enables them in the speed for the decision-making process that are relevant for the client. So for the adoption of the new methodologies of work, it's essential that in this process, we have to be digital and also cultural for the transformation here at Itaú. As we said in previous opportunities, we start to work in integrated communities so we can work as tribes. With this model, our teams are organized by journeys of clients, gathering professionals from different modalities and focusing on the best experience being delivered. Based on those methodologies, we approximated all the professionals from the pains of the clients so we can build the solutions that service their needs. And also, we deliver the autonomy to our collaborators so we can have speed, agility, and without compromising the quality. For example, we have the focus of the ION model, which is an app that was created when it stems from customer questionnaires, and it was launched as an MVP. And it was launched for the evolution that was guided for the feedback of the users. Another important thing is the digital use of data and scales. We have to understand quicker the demands of the 60 million customers. They will also tell us if we have proposals that make sense in the day-to-day of the customer. At Itaú, the use of data is based on the governance of principles, rules, and practices that ensure that the flow happens in a fluid way, but also that the controls of privacy are in place. Besides that, governance also involves the quality of the data that we use, and we ensure that they are the most relevant and complete for each situation. This is essential so that the results are not incorrect or biased. At the end of the day, all of this evolution that I narrated to you has the objective of delivering more value for the clients from providing the service to more quality and the creation of better experiences. This process involves big cultural technological transformation and also the questioning of our own values. We're very proud of our journey, and we want to continue questioning so we can evolve all the time. The results of the digital transformation that we live today are the fruits of that labor. Even though we still have a lot of things to do, the technological evolution here at Itaú, it becomes a reference for the technology companies all throughout the world. In our advances, we are even influencing the roadmap of the products of these institutions. As an organization, we were recognized by Fast Company, one of the best companies for the innovative professionals in the world. We were also selected as the most innovative bank in Brazil by the ranking of Valor Inovação, and as a digital bank, the best one by Global Finance here in Brazil. These are giving us the idea that we're going down the right path and delivering the best experience for our clients, and to conclude, I would like to highlight that we have the base culture of collaboration with the client, with our professionals. Now, throughout the last year, we strengthened more this culture, and Itaú is based on people, and none of that is possible without people being able to express themselves, having the autonomy for the decision-making process that is decentralized. Now, I'd like to give the floor to our partner in the executive committee, Leila. Hi, I am Leila Melo. I am part of the Board of Directors and responsible for legal and corporate issues here at Itaú Unibanco. Today, I will share with you our initiatives to generate more and more positive impact in society and, of course, in the satisfaction of our clients. I would like to talk about our agenda for innovation and evolution in the service of our clients. Before that, I would like to talk about our efforts to reduce the number of legal proceedings and the complaints that are received by our company. One of the topics of our culture launched this year is that we do not know everything. That's why if we have a complaint or we have a legal proceeding, we evaluate our conduct for each case. If there was a mistake, then we can correct the situation of the customer. Thereafter, we review all of our proceedings so that it doesn't repeat. This is a crucial step in the continuous improvement movement that is being implemented by the bank. A practical example that I'm going to share with you. The number of civil lawsuits that we identified by a mistake made by the bank has expressively gone down over the years. This reduction is even more relevant because it happened in a period of the increase of the businesses of the bank and the number of customers from the bank. This shows our capacity for growth with quality. The strategy of focusing on the customer has been fundamental in this journey. We work strongly for the analysis of complaints. We identify the opportunities in the continuous improvement of lawsuits, products, and services. The result of these efforts is reflected in the reduction of complaints and the increase of the satisfaction of customers. Also, we had a decrease in complaints and an evolution in the rankings of complaints from the central bank. We know that a good relationship with our customers is not just summarized to the evolution in our service. We have a responsibility to be by the side of the customer and support them in a macroeconomic context that is very challenging. This is a fundamental point when we work our positive impact agenda, known as the ESG agenda in the market. In that sense, we have a commitment for the financial citizenship, which contemplates the initiatives for making credit conditions available that are differentiated to help our customers reorganize their finances, reincluding the credit cycle in a sustainable way. Customers that have gone through or are going through financial difficulties, and it contributes with the financial inclusion of new customers with the use of financial products, with credit thresholds that are adjusted, then we can avoid indebtedness and non-payment. These are clear examples of ESG, and there are still other lines of work, and I would like to highlight two that are very relevant for you. The first one is that we launched last year BRL 4 billion in credit lines to promote a sustainable economy and more inclusive. This value contemplates until 2025 initiatives in three main fronts: the credit concession for the positive impact sectors in the society itself, operation structuring in the market with the ESG stamp for our clients with green bonds, social bonds, and sustainability-linked bonds, among others. The ESG products were wholesale with the finance of electric and hybrid cars, solar panels, microcredit, and also credit for entrepreneurial women. Facing the urgency of climate change, we also signed the commitment of the UN to get zero carbon emissions by 2050 by adhering to the Net Zero Banking Alliance. We are carbon neutral for direct emissions, those generated by our operations and by the energy that we consume. The strategy of the bank consists in reducing and removing the emissions of the greenhouse gases until we become carbon neutral also with the businesses that we do. Over the last days, we had another landmark in this journey. We launched a partnership with Enel for the provision of renewable energy for 2,000 branches of the bank. With this initiative, we will service 80% of our units, which represents another step that is fundamental to get to our objectives, which is our Net Zero commitment. Also, I would like to say that our customers, we are doing a transition for an economy that is carbon neutral. We will get that with a collaborative and customized threshold or network challenge with looking at each challenge of the customers and adapting to each of the clients' challenges. Our actions are structured to promote the reduction and removal of emissions. With that, we try to engage our customers so that they promote their own transitions. Also, all of these clients can access our products and services that are ESG. And with the purpose of supporting our customers and to accelerate the development of new solutions, we launched along with Cubo Itaú the hub that is exclusively dedicated to the ESG point. The objective is to highlight startups that are existing and also stimulate new initiatives. The focus is to provide disruptive solutions and scalable solutions that will transform the realities of the environmental, social, and governance issues in Brazil and also in Latin America. Also, we are doing our role of influence to improve the lives of people, whether it's our collaborators, customers, or society in general. Through affirmative actions, we address the challenges of diversity, the promotion of education, and the financial inclusion, the support to entrepreneurship, and improving the investments of our institutes and foundations. We have invested thoroughly year- on- year in areas that we consider fundamental for the development of the country, such as education, mobility, and health. We follow up on the construction of our bank that is the bank of the future with services, products, and that are more relevant for our customers and with a positive impact for society as a whole. We will always be side by side with all of our publics, customers, shareholders, investors, regulators, and society as a whole. We can continue and accelerate this journey of building Itaú Unibanco over the next decades. As we say, this is done with you. Now, I invite you to watch a video with a few ideas of our customers and what they expect of a bank now. How these identities can help, how these entities can help us. I think that we have to be client-centric above all. The capabilities of the bank today are people, and obviously, the people have to be partners of the companies that they have to understand the moment. They have to be long- and short-term partners and also helping the company to be agile. All of these companies, they have to work together. I think that a financial institution today can be a good part of this, also working with pioneering companies in terms of ESG and bringing all that together, bringing everybody to the same page. So there isn't any more agendas that are different, but agendas that are very important for the Brazilian companies and that are on the forefront of ESG. It's very important that the financial institution understands the strategy and the moment of the company. Therefore, the financial institution, they cannot just be a simple product shelf that they're selling products. No, they have to bring a solution for the needs of the customer, of the company itself. ESG, in that sense, we're bringing solutions that in a certain way will allow us to help the company to demonstrate their initiatives in that field. But the bank, if they understand that moment, they can help us to bring that solution and to demonstrate that in a very clear way. As an entrepreneur, we have to talk about credit. Credit that will allow us to achieve our objectives and dreams and to be in contact with the players. That can be very interesting for the development of the business and, above all, the contact with the managers so they understand our specific needs of our businesses, of startups, and will help us to find programs that make sense for our development. Hi, everyone. It's with great satisfaction that I'm here in this edition of 2022 of Itaú Day and to talk to you about Itaú BBA. We've heard what our customers are waiting, expecting from the bank, and now I will have the opportunity to share what we have done and what we're planning to do to service and even overcome those expectations, and I start today with a point that I would like to show you with the Itaú Day that I said of Itaú Day last year. I said that Itaú BBA is still guided to develop an agenda of sustainable growth with a commitment to support in a relevant way and unique way our 22,000 customers and all of their needs. Our ambition is still in the sense of consolidating and broadening more and more our position for leadership among the wholesale banks. With a strong discipline and execution, we advanced very well in our last meeting, and it's with a lot of satisfaction that I share with you some of the results achieved. 2021, Itaú BBA grew their portfolio in 23%. We project to grow 28% this year, and this performance, which is combined with credit cost that is based on governance that is very solid, made Itaú BBA to get a record threshold in the contribution of the results of the bank for the first semester. We have efficiency indexes below 25% and a level of return on investment, capital investment, 28%. These are numbers that will get us in the first quarter if we compare with the global players in the industry, and even advancing a lot, we have a lot of things to do. And that motivated us to advance more and more in the execution of our strategic agenda. The first lever of our agenda is customer satisfaction, where we are permanently trying to perfect our value proposition. The NPS is a thermometer for this satisfaction to get to the historical threshold, 78 points, that gets us close to global excellence in any level of the business. And with listening actively to our customers, we see that the journeys are transactional. They have to be digital, simple, and more efficient. Second initiative is the ambition to be the leaders in the investment bank. In that sense, we reach important goals. We have an expressive position in fixed income, where we have leadership in unprecedented levels, 30% in the participation of origination, a position that is two times larger than the second place. We also advance in the reformulation of our investments and the research. We have a complete team with the natural presence, and we also have a team that is dedicated to the institutional investors. And even with a consolidated and highlighted point, we have the opportunity for the acquisition of Ideal Corretora that was announced in January that is still waiting for the approval of regulatory bodies. This will strengthen us in the high-frequency activities. We are also paying attention to the tokenized assets market. We've done the first operations in receivables and tokens. This should grow exponentially over the next years, and we are being prepared to be leaders in these activities. The third lever in our agenda is our ambition to be the leaders in the agribusiness among the private banks. And here is the continuous advancement that is very strong. We have from 28 to 36 platforms. We subcontracted over 120 people, and now we have a team of 700 employees that dedicate 100% to agribusiness. Our agribusiness portfolio has had a growth of over 20% over the last years, accelerated even more. Today, it is BRL 71 billion in growth with 50% growth over the last year. Our client base in agribusiness has had a growth of 270% in regards to 2020, specifically because we're focusing in the rural producers segment. We launched new products amongst them. CPR in dollar, we created a trading company so we can service our customers, and we already did all throughout this company 42 operations that surpassed BRL 1 billion in business volume. It is with our management company, Itaú Asset Management, we launched the biggest FIAGRO of the industry with BRL 600 million in patrimony. Now, over the last years, we are going to invest in this segment. We are going to modernize our platforms and create digital journeys. We are going to continue to expand the customer base, and we are going to invest in the launch of new products. The fourth lever is our ambition in being a leader, a bank that is a leader in the middle market segment. In that segment, which we're growing at a rhythm that is over 20% since the times of André, we will continue to evolve in the value proposition with the objective of getting to efficiency threshold. That is a benchmark that is actually a global benchmark. In the tech niche within the middle market, we doubled the team, and we have 60 employees that are exclusively dedicated for this segment with a value proposition that looks at the lifecycle of the technology companies. We hope that at the end of this year, we can double the revenue in this segment in comparison to what we've done in 2020. The fifth lever is working with the new companies of Brazil. This follow-up, the segment actually that we have a consolidated presence, it has also expressively evolved. Our portfolio has 2,000 biggest companies in Brazil has reached BRL 280 billion in Brazil, growing 20% over the last 12 months. We got the efficiency levels of 17%, and we have the highlight position even comparing to the biggest global benchmarkers. We are reinforcing the position in our strategic agenda of the clients so we can be the preferred partner and reference partner. In the lever of payment methods, we are working in two fronts. The first one is the continuous evolution of the operation of cash management, where we have a position of leadership that has been brought. And just as a reference, in this year of 2022, we are projecting over BRL 13 trillion just in transactions of payments that our clients, that our customers will do through Itaú BBA. The second front in payments is the transformation of the agenda of these payments, a modern platform, modular, flexible, so we can work as partners of our customers in their own ecosystems, even with BaaS, bank as a service solutions. And even though sustainability has been present in the agenda of our conglomerate for many years, we actually organize ourselves to also support our customers in the ESG agenda. We want to be a partner that will support them in the transition for a low-carbon economy. We reached 56% of our commitment of investing BRL 400 billion in the finance of positive impact sectors until the end of 2025, and even though this is a new thing in development, we have a position of leadership that is very highlighted in this area, 35% of emissions of the ESG emissions done in the local market. To summarize, even though we are leaders in the bank also, we want to say every day, Itaú BBA doesn't stop. We don't stop because our customers do not stop. Their needs evolve every day, and we have to evolve with them, and now I give the floor to my friend André Rodrigues, and he will deepen in the journey of the small and medium-sized companies. Thank you. It's great to see these advances in Itaú BBA, so I am André Rodrigues. I work with the small companies in Itaú Unibanco, and we have the needs of the businesses that are very important in relevance, in importance, and profitability. The perspective of growth, the establishment of competitive, and we have over 1.5 million customers, and we are broadening this space with a very relevant top line, and we are experiencing a growth that is very robust in the portfolio over the last five years, keeping a profitability that is very healthy, and still, we are transforming this operation to get a highlighted leadership, and over the last year, this business has been developing very consistently, and this can be demonstrated by the evolution of the credit portfolio and the co-leadership of the market being achieved. We started with a less favorable position last year, in particular, and we have had evolution the fourth year of the growth of the portfolio superior to two digits year on year on this historical series. An increase year on year of 37% and bottom line 100%. Now we have the importance of the profitability adjusted of this. This has gone over 10 points over the last year and has had a very important high threshold, and the efficiency has evolved very significantly with great capillarity, even in the last cycle. It's important. In facing our main competition, we have some important highlights. The NPL, which is 90, significant inconsistency in regards to the market, even in regards to our reference. In the pre-pandemic, we have the cost of credit per portfolio. An important part of this explanation is the portfolio management with a proprietary technology that created sustainable pillars. We have a mix of portfolio that is resilient in the perspective of the size of the customers and the mix of the ratings. More and more relevant, these advances are possible because of the business model that really is focused in the customer. Our global NPS has increased with each cycle, and we have been able to increase a higher bar of 60 this year, and our margin trends are on the up. With our small and medium-sized business, we've been able to be involved in a transformational project called project iVarejo 2030 as part of a strong growth perspective, and we expect a continued cycle of expansion for the business, broad-based expansion for a select client customer base, and annual growth in the two digits of our EBIT in the two digits of up to 2025. With these results, we think it's possible to be able to reformulate our business model and have a true north, ambitious true north for all of our operation pillars, for all of our structures. We are starting with a new segmentation model for customers, which implies a new ecosystem for our customer service with value proposals that are separate or different for each client. We will be creating regional poles or regional centers to act together in loco with our sales agents for credit and other products and loans. We expect 60% of our teams to be in these regional centers. We have over 275 business platforms, exclusive business platforms with over 1.2 million points of sale. We will have a complete review of these primary customer solution journeys for our different products and services, and this is how our customers are already recognizing our great progress in some of our primary transaction and product journeys. We've been paying special attention to the digital journey, and over 90% of operations with our customers are digital, and in fact, half of our products and some of our products are already on digital platforms. In fact, our focus on expansion and qualifying this offer, this broad supply of solutions of products is what we're strong at. Our new business model will meet our customer needs, which we've historically taken into account, and of course, insurance, and of course, we've been focusing on portfolio management. We have a better perspective, and we will be integrated with the execution model, and we're also creating an engagement machine where we're going to focus on the primary logic of increasing lifetime value of our customer fidelity. We have a sophisticated framework that's been focused on a number of different variables, including transactions, channel use, products and services, credit penetration, loan penetration, and products and services. As Milton said, engaged services use more products, and they have a higher churn, and they give us better results. In the world of small and medium businesses, we've been able to accelerate, significantly accelerate customer engagement over four percentage points through integration with the engagement model, engagement machine, and our execution model. The change management agenda has also been one of our primary leverages for iVarejo 2030, which includes adjustment of team profiles, structural programming, and training that are with individualized assessment and training, specific program for leadership development. It's called the developing leader. We have some innovative market elements. And in addition to this, we've been listening very closely to our customers, and we have decided to offer some solutions that are not strictly financial. We call them beyond banking. Just like we announced last year, our partnership with Omie, we expect two more partnerships by the end of 2022 that will support customers with their e-commerce solutions and risk management. Our focus is on the quality of solutions, choosing the best partners possible to solve the pain points our customers have expressed, and we're going to continue developing a full ecosystem of solutions for our customers. We're going to do this for our owners and for partners, but we're going to be doing this with the recently launched Itaú Meu Negócio platform, which will allow a very simple, friendly, integrated experience for all of our customers with exclusive and personalized content to meet each customer's needs. We know that competition is intense, and they're very creative, and we know that leadership and our customer preferences are something that we need to continue to work with every day. We've established the Atlas project for our small and medium businesses that will develop in parallel form to what we operate now, a business model that is primarily digital and disruptive for our strong small and medium-sized business base. We're also going to expand leadership in our small and medium business, but we're going to do this ambitiously, but we're going to be selective, sustainable. We don't want volatility in our profits and losses. We want very good risk management. We want to operate with profitability. We want to operate with efficiency, and we want to be recognized by our clients as a benchmark in the market. I'd now like to invite Pedro Lorenzini to give us more details on operations, what we can expect on operations in Latin America for global market and treasury. T hank you, And`ré, and hello, everyone. It's wonderful to be here. Thank you for talking about small and medium businesses. I'm Pedro Lorenzini. I'm in charge of treasury global markets and Latin America. Let's talk a little bit about Latin America. We have been seeking sustainable and efficient growth in the markets in which we operate in Latin America. This increased our relevance and our market share. We're looking to expand credit and deposits and modernize the services through new products and new technologies. We understand the importance of our economies and of our responsibility for developing these financial markets, as well as capital markets, leadership, and project participation. In Paraguay, we have reached 13.6% of credit market share, 16.8% of deposit market share, and nearly 50% of credit card market share. We've been focused heavily on retail, and we have been decisive in developing the national capital market by launching our broker, local asset manager. Uruguay, our customer base increased 9% in the last 12 months. We now account for 16.8% of the market for loans, 14.6% of the deposit market, and more than 50% of the market share for credit cards. We made some very strategic acquisitions and partnerships with Prex and Paygo, which is a digital wallet and digital credit. This allows us to focus on new types of customers and on new countries. In the world of corporate customers, we've been involved in a number of big local projects, and our credit portfolio has increased 25% in the last 12 months by launching new products, derivatives, and commodities in Argentina. Despite the economic adversities, we've been able to hold market share in credit and deposits. We've been able to maintain our support, local support with local customers, and administer risks properly by generating sustained contributions to the bank regionally with our offshore portfolio. Chile, we've been able to increase our capital share. We've been able to consolidate our commitment with the market, and it's full of opportunities. We've increased our market share and our relevance in the local market, both in terms of retail and corporate. This has been through our special value proposition, especially in digital, with new solutions, with proprietary solutions, and partnerships like Rappi. In Colombia, we've been able to grow by repositioning and expanding our share in the market, corporate market. We've offered new and innovative solutions for our retail customers and improved internal proficiency. We look at global markets to be able to manage these major changes in global markets, and we've been able to minimize the inherent risks of doing business by creating value for the bank. Our focus on generating solutions and helping our customers efficiently manage the risks in their businesses. We are synchronized with the capital market, and this has allowed for innovation and structured solutions with the swap contingent, the BLOX contingent, helping our customers at their most important moments accessing the market, whether they're issuing debt or shares or mergers and acquisitions. We've been able to rank in the solutions with our customer clients through derivatives market, where we possess 60% of the market share in a number of risk factors, including interest, exchange, commodities, and equities. We've been able to grow with our exchange rate. We've increased our leadership in the export and import market. Our digital solutions and e-solutions on a day-to-day have been incredibly relevant, incredibly important, and we've been able to really consolidate our customers. We've been able to increase our quick response and reduce costs, increase competition. We've been able to expand our trading, Itaú Trader trading platform for corporate clients and expand our base of what we offer to our customers. We've thus increased efficiency and competition, and in energy, we've also gained some space. We've been able to substantially increase our customers' results, and when we look at innovation, in addition to significantly expanding market share, we also see these structured products, COEs, LIGs, and derivatives. We've been able to launch in the ESG and gain ESG market, and we're aligned with a positive impact agenda. We recently lost our digital assets unit, which is the strategic base of what we offer for digital assets, like tokenizable digital assets and also currencies. In addition, we've been able to construct the digital asset using the technology and architecture from state-of-the-art that offers better safety and a better experience for our customers. That's the end of this panel right now. And before I call up my colleague, I'd like to share another video where we see some very important messages from our customers. Transparency with a trusting relationship. I think that is very important. I think this customization is very important. This relationship, whether you have it with your manager, whether it's digital, whatever it is, it's very important for me. And also, lines of credit, loans are really important. I don't have to go after them. I don't have to look for them elsewhere. I can go straight to the bank. It's very easy to ask for those loans. It's trustworthy. The services that are available are great. I have an individual bank account, checking account at Itaú. I also have some investments, so I use their brokerage. I no longer go to the physical brick-and-mortar banks. I actually do it all online. I love my wealth manager, Ariel. He gives me great ideas, tips, and suggestions. And in fact, the brokerage site has changed a bit, and it's made it so much easier to browse. With specialized suggestions, I can quickly choose what type of investment I want to make, and it's not so complicated. I'm a layperson. I don't really understand, but it gives me great ideas. And also, the other thing I feel that it's very safe. I feel like it's a very safe site, and it's a safe setting for me to invest. Good morning. I'm André Saposnik. I'm head of payments, operations, and individual customers. It is a pleasure to be with you once again on Itaú, and we will have the opportunity to talk about changes from the initiatives that were presented last year and some of our plans for the future. Back in 2021, we talked a lot about our growth agenda. We wanted to expand our customer base and wanted to expand the intensity with which the customers relate to us. There are a number of ways that we pursue growth at Itaú, but one of them is the ITI, and these are digital, light, and they work with some of the customers that we haven't traditionally worked with in the past, and these are our vectors of growth. ITI is constantly evolving. We recently launched Minhas Metas for financial planning. We've also launched services to receive sales and payments for small entrepreneurs through machines, through links, through Pix, which is like a Venmo. For the last few months, we've allowed youth aged 14 and over to open a bank account with us, which means we're using scalability of digital products to generate inclusion and financial guidance. Growth has only been possible because we've heard from our customers, and we've changed our products. We've developed our products to best meet our customer needs. When we look at credit cards, we continue to offer a broad range of products to meet each type of customer. In 2022, operations grew significantly, both through new cards that we launched and through an increase in consumption or return to consumption that a number of our customers finally experienced, especially with the middle and high-income customers. The experience of using credit cards has changed dramatically, especially online. In fact, most of our customers can now receive digital bills. 90% of our customers receive digital bills. It's great for the customers because it's safe. It's great for the bank because we saved BRL 1 billion, and it's great for the environment. That's 265,000 trees that were not cut down for paper. This tireless agenda, this tireless seeking improvements has translated into a three-point satisfaction in our NPS score in the last 12 months. And it doesn't stop there. Our initiative, iPhone pra Sempre, allows customers to acquire and update their phones by paying in installments on their credit card. This ensures engagement and trust. One of the great examples is that we were recognized as one of the eight most innovative companies in the world in the Fast Company magazine. Innovation and customer centricity are also present in the solutions that we receive in the payments solutions that we offer to our customers, especially in terms of e-commerce solutions. That's where we're growing the most. We are already the market leaders in e-commerce, and for the 12th month running, we've had the best transaction approval rate in the market. What does that mean? That means more sales for our customers, our corporate customers, and better purchasing experiences for consumers on the ground. Our commitment to better customer experience and constantly seeking the lowest unit cost are objectives that we pursue through two skills, through two areas: technology as a competitive advantage and obsessive guidance, obsessive focus on the use of analytic data and tools. Let me give you an example. Our digital customer service, in addition to the financial apps that we have, our customers have digital help that helps them solve 60% of their issues. It's through artificial intelligence. This digital brain for customer service has increased 286% over 2021, and it translates to a reduction in phone calls, voice channel in 35%. Obviously, technology is not always going to be enough, and for these specific cases, we have highly trained individuals working to help our customers solve their problems. In 2022, we invested 80,000 hours in training using the most modern options available for learning and gamification models. Financial services for individuals. I'm just going to talk about it broadly. Last year, we mentioned that we have one of the largest strategic review projects in our history. It's called iVarejo 2030 or iRetail 2030. At the time, we were just at the cusp of transformation, but now it's the road we tread. Since Brazilians have chosen this as their first choice for financial services, one of our priorities has been to embrace the FI Digital strategy, which brings together the best of human customer service with digital convenience. We always respect, of course, customer choice. In terms of digital, evolution has been, change has been significant. 90% of customer interaction with the bank now takes place over digital channels. Two-thirds of our hiring now takes place online, three times what we had two years ago. Human customer service, on the other hand, has changed by specialization according to customer type. So we can offer better service and better advice to our customers. This includes a better structure that offers better financial data analysis and behavioral analysis. This has allowed us to double our sales team's productivity. We also have 30% of our businesses follow the O2O model, online to offline. It means they start digitally and they end with our managers. We also offer customer service through extended hours on chat, on WhatsApp, on email, and on telephones for a number of our customers. This broadens their access to managers, and it is more convenient for them. The results of this transformation have been phenomenal. Operating revenue for individuals has already increased to pre-pandemic levels by over 20%. We've had a 42% increase in acquisition costs dropped. Customer acquisition costs were reduced by customers started online. That's three. Now we're focused on six areas of action. We continue to grow our customer base, adjusting the model to meet every single public need, and we make things as profitable as possible, and we try to understand our customer moments through the use of behavioral and financial data, trying to meet customer needs and no longer focusing just on the product. Three, we maintain credit growth with customers who have great ratings, and we continue offering, in addition to credit, other services like investments and insurance. We also look for five digital integrating and complementing human customer service with digital customer service, offering more convenience for the customer. Number five, we also continue with rigorous control of credit costs and administrative expenses, and number six, and no less important, we value our long-term relationship with our customers. We guarantee engagement through a customer service model that leverages mass customization and benefits the entire Itaú ecosystem, and I'd like to hand it over to Zancani, who will talk a little bit about the products and services that we have been building together with our customers. Thank you. I'm Alexandre Zancani, and I'm here to give you an overview of our product agenda for individuals. It is a real pleasure to be here with you on Itaú Day to talk about changes, initiatives, and initiatives that we presented last year and to talk about our future commitment with you. I was really excited last year, and I talked about the growth of our credit business, especially guaranteed credit, where we've seen a journey that includes modernization and growth above market rates. We looked for a portfolio mix that was healthier in order to support future growth. I'm quite happy to be here today and say that we did achieve this. It's been yet another year where we've had strong growth, 27% increase in the guaranteed credit portfolio. We've also had clean credit, where we've been able to grow above 35% for personal and credit card loans. That means with individuals, we've grown 30%, much higher than our main competition. We've outperformed them, and with better control, we've had better leadership in the credit market. This growth is a reflection not of changes in terms of risk appetite, but stronger attractiveness and competitiveness. We offer more. Our success is based on our customer success. In order to guarantee that we deliver what is most important for our customers, we have organized our structure based on our customer's need with end-to-end responsibility and high agility as our fast speed and agility as our focus. We have been implementing this model in our integrated communities, which is now coming to the end of a two-year implementation program. We look for continuous improvement, and we offer exceptional experiences, efficient experiences with each one of our teams. Our ambition has been the best choice for our customers. In terms of real estate loans, we've seen a number of different important changes: installments, 100% digital formalization, personalized consultancy through WhatsApp, proposal tracking for applications, and a number of incentives for our commercial partners, our business partners, so we offer the best experience for those who sell and for those who buy, and you can see this by massive increases in our NPS numbers, both from our customers and our partners, and we look at consortiums. We also have an innovative positioning campaign where we're far ahead, and we explain our product best. This is a combination of improvements in hiring and customer service, which has translated into a sales increase of over 50% in the last year, increased market share, increased revenue, and we've increased the bar in terms of rankings and complaints. We are also strong leaders in the private sector and in the social security sector. Now we're expanding our customer-centric vision, acting together in terms of payment slips and with the government agencies, which means that our portfolio has doubled. We've also been able to launch products with anticipation of social security payments. It's 100% digital. We are transforming the experience on the store. For our customers, again, do the Get Finance through the app. With that, the visibility in the market has increased 20 percentage points. Last but not least, it's very gratifying to see the evolution of our business of insurance, where the change in strategy that started in 2021 has brought very important results, with a growth of sales of 56% in a year and market share gains of over 10%. That generates the portfolio of revenues of futures, actually, with a low use of capital that we are just starting to observe in the P&L. That result is the review. It's a review of the commercial method and the review of the journey of the customer from sales to customer service, guaranteeing that their needs are serviced in the best way possible with the best solution. Now I'd like to talk about credit and recovery. These are the ones that we have invested the most, with a lot of effort in hiring talents, training of teams, and renovation of platforms. Our mission goes beyond offering financial solutions. We believe that we should re-signify credit as a path for prosperity, making dreams viable and building a relationship of trust for all times. We are doing that through a broad use of data and a complete redesign of journeys so we can get the customer at the core of their financial decisions in all of the stages of their life cycle, from the subcontracting of the first credit, the financial organization, the preventive management, the rebalancing of the payment capacity, and the restructuring of debt. And to make this change viable, we get in the second year of the building of our single credit platform that has revolutionized our capacity to get to know and understand our customers, facilitating and making the credit decision more precise and also how we guide the investment of the credit. In the building of credit, we have invested in gamification with limit of limits and the concept of SI of yes done with you, where our role doesn't end at the approval or not of an approval, and yes, it ends at the financial guidance for the customer to achieve their objectives. In the preventive management, we reformatted our journeys to simplify the grouping of all the debts of the customers, giving more transparency in the process of the reestablishment of thresholds. Now, 80% of our restructuring of that transaction is done through modernized channels. Our digital channels for the solutions and written negotiations have over 3 million accesses, with a highlight of the use of WhatsApp that over the last three months has grown 30%. We continue to be in a constant evolution to offer a complete, flexible, transparent journey for our customers. This profound transformation in financing the credit has just started. I highlight at the end the obsession of our teams by our customers, for our customers, because we know that only in this way we will become their first choice and we will get to the results that are sustainable that we just mentioned. Now, I'd like to give the floor to Constantini so we can talk about our investments and asset management agenda for our customers. Hi, Zancani. Thank you. I'm Carlos Constantini. I'm responsible for the wealth management and investments here at Itaú Unibanco. We continue to build the best journey of investments for everyone, offering a value proposition that is simple and objective, so for those that are very important for our customers. We believe in the value of a complete ecosystem of investments. We have advanced very well in that direction, always listening to our customers. By working with a complete journey of investments, we can increase the engagement, the profitability, and expand the base of investors. More than that, the complete servicing of the needs of the customers is important because it produces satisfied customers. As I told you in the last meeting, we redefined the structure of distribution, above all with the launch of the íon specialist. We expanded the process with the asset management, gaining markets, specifically with the credit products and absolute return. We launched the communication front with the creation and activation of the ecosystem of content and financial education, expanding our production beyond the proprietary channels such as the Inteligência Financeira platform, which is the one that we want to be the three largest ones in Brazil. We also involved investment solution, improving the digital experience with the existing channels, developing the íon app, modernizing our broker, and increasing the offerings of products that are owner and subcontracting parties. We work with institutional investors, managers, and issuers, and all the ecosystem of origination on the market to assure the best opportunities for investments. We announced two strategic M&As, very important, that are still waiting for the regulatory approval, the Ideal, which accelerates our modernization and positions us in the investments as a service market, and Avenue, which was the precursor of international investments, international investments for wholesale customers and will be integrated very shortly. The value for each of these initiatives are highlighted in our ecosystems. It allows to attract, engage, satisfy, and make our customer base more profitable. And we will integrate each of these pieces in our ecosystems more and more, and we will start going to the blue ocean, trying to find clients, investors, where we still do not have any relationship. But I want to show you how we evolve since the last meeting. We implemented with a lot of success the new model for service, which we have 500,000 satisfied customers with a regionalized service with 2,500 ION specialists and all in the support of the relationship managers from Itaú Unibanco and also the investment platform of WMS. Adhering our customers, we have expanded through new products, making it simpler, more simple and democratic the investment with tickets that even started at BRL 1. Just this year, we have 210 new products offered in our platforms, and this number should be accelerated over the next months. With this transparency and a pricing that is adequate, we gain market share in different products that are more sophisticated, such as funds and structured invoices, and all of that came at a substantial moment for the satisfaction of our customers, a growth of 11 points on the NPS for a global NPS of investment over the last year, and we want to reach the excellence zone by 2025. We also innovated by bringing functionalities with the super app of the bank. We improved the portfolio with the graphic visualization that impacted 50 million customers. We continue to develop the ION app dedicated to investment, offering the experience of specialists, for example, integrating the broker and the aggregator of investments, and also the differentiated content in the personalized communication for the investor public. Just to show you the level of interest in this ION app, we had over a million downloads and a great deal of the exclusive functionalities, above all those that help in the decision-making process for the portfolio, and that wasn't even launched yet. Briefly, this app will be available for the customers that are not in our bank even. We have done the modernization of the broker. We started with a simple focus just on shares, and now we have a complete and intuitive platform, and we have big news coming up ahead. We also heard the customers of the private bank, the segment of where we are still absolute leaders and we grow above market. We added new services. We adjusted the models for customer service. We try to find more regionalization, the customized offerings in financial help. We integrated in operations in Brazil and abroad, and we invested in modernization and experience that is digital. We continue to grow, hope to grow above market, specifically because we are internationally positioned. In Itaú Asset Management, the biggest manager of private assets in Brazil, we have. We consolidated our participation in the market that is absolute with the implementation of the Multimarket Project that crossed the incredible 100 billion threshold, BRL 100 billion in assets, and with an investment of BRL 36 billion just this last year, or 6.5x what we generated over the last four years. This generated great returns for our customers and consolidated our leadership in the funds category. We have to highlight that our position in credit funds, traditional and structured, that has brought to the customers great opportunities in the higher interest rates environment and also a complete portfolio for the allocation of products, liabilities, themes, ETFs, traditionals, Itaú Asset Management. It's also a pioneer in the integration of ESG in the Brazilian market with a coverage of over 99% of the assets that are applicable under the management that are based with the ESG criteria. Since our portfolio is all based in open architecture, we do not forgo the partnerships with the Brazilian international managers, where we are also pioneers, and we follow, we continue to be leaders in the distribution of the main funds of the market. The investment market in Brazil should be still bubbling up with information, knowledge, transparency that will be fundamental for the best decision-making process for the investors. Therefore, we are growing, and we should briefly add another ecosystem for content with our education platform still in the MPP phase, with a human s pecialized customer service, digital intuitive experiences, personalized solutions, education, knowledge. Connected to the benefits of being clients of Itaú, we are certain that we are going to deliver the best value proposition for the customers. That's why we want to go beyond the 22% market share nowadays in the investment market, consolidating more and more leadership. Not all the models that are existing in this current model, they seem to be sustainable in the transparency and the pricing that is more fair. We see opportunity for consolidation and growth over the last years, over the next year, sorry, with this new message for the base of customers and investors. I would like to close my presentation. Thank you very much. But before we call the last panel, I would like to bring once again a few messages from our customers. The relationship that I have with a bank, it has been established in three principles that I think are key for those that work with the finance market for over the last 20 years operating. It's trust, it's summarizing credibility, and results. When we try to find in a bank, above all, we want a relationship of respect, that you trust and credibility in that bank. We always try to find agility in the service that is cordial and that is basically personal, that is a relationship of trust above all. We try always to be a complete bank, a bank that offers insurance, that offers credit cards, that offers all the areas of investment, and that all of that, all of that, we need them in the day-to-day. As a healthcare professional, for example, I need customer service that really helps us with the investments and that respects my profile as an investor and that is better for the customer, and that is not just good for the bank. I've been hacked before, and well, they use my card as if I had purchased something. So they detected that, and with a warning, we have a small insurance with the credit card, and everything, well, they still help me a lot. Hello, everyone. I am Alexsandro Broedel. I am the director of finance for Itaú. I would like to thank you for your presence here for another Itaú Day. This is a very important event for the bank in regards, well, with the relationship with our investors. Now, I would like to talk to you about the two roles, amongst others, that the finance area of Itaú Unibanco has. The first one is regarding transparency and quality of our information. Here at Itaú Unibanco, we have as a fundamental pillar establishing a process of communication with the market that, besides being transparent, has to be also efficient. We always try to bring to you the information that is important, not only financial data, but also information that is not financial, such as the ESG indicators. Now, we adopted here the one-report concept, integrating in a single report all those views in a very cohesive way with a simple language and modern language. In that sense, I would like to highlight that the bank has received several recognitions from the market in regards to the way that we communicate. These are words related to the quality of our earnings, our public meetings, and even the respect of the quality of our team. We are very proud of the recognition, and we are certain that we are on the right path. The second role, not less important, is our efficiency program. In that sense, it's important to highlight that it's not just an agenda of the cutting costs. No, we, above all, have the objective of being a more agile bank, always trying to find opportunities for more efficiency that is operational efficiency and optimizing the relationship between our revenues and expenses. And why do we do that? Just to improve profitability? Certainly not. We do that because a more efficient bank allows us to be not only more competitive with our commercial offerings, also it allows us to create new products and services. We have a thousand initiatives in implementation, and this is review, simplification, optimization of processes, activities, analytics in the bank, among others. The results are pretty remarkable. Once we have the core costs above and below inflation, we grow our revenues, and this allowed us to get to best efficiency levels in our history, and certainly, we are among the best Brazilian systems and one of the best banks for our size. This is not an agenda for cutting costs. We try to find investments, opportunities for investments, and with that, our expenses have grown because of the biggest investments in technology and new businesses, which are also the things that allow us to continue with this agenda and allow us for better customer service, as a consequence, the best relationship with business. This is a project that doesn't have an end. This is a continuous program. We will continue to intensify our efforts to assure that we will always have the best structure to improve on our commercial agenda. In that sense, we will use our experience with more efficient management and providing services that will provide better gains for our customers, transforming areas that are centers of cost, and now they're going to be centers of results. This is a spoiler, and certainly, we will talk about this. We will continue to try and improve ours with more transparency and more quality for our communication. With a highlight on the ESG agenda, servicing the main recommendations that are done for the market, we are going to try and be more efficient, and we're always going to try and find new internal opportunities as we implement our technology investments. They allow us to have more avenues to be a more efficient bank. With that, our focus is to be more and more a strategic partner of the commercial areas. That's why I will give the floor to Matias, and he will talk about the vision on risks. Thank you. I am Matias Granata. I am responsible for the area of risks of the bank. Historically, our management and appetite for risk has been fundamental pillars to assure the sustainability of the performance all throughout time. It will give us the clarity and direction necessary to go through uncertainty periods in 2022. It's not different. We managed to grow the bank, and we delivered consistent results in a high volatility market and the normalization of the delays in credit. We reduced materially the volatility of our capital, and we regained the standard declared for risk appetite in this year, so the main message here is that the risk area is also fundamental for the experience of our customers. As we talked about last year, focusing on the customer demands, new ways of creating and governing products, developing and operating platforms while securing credit and ensuring privacy, and last but not least, establishing a focus that is absolute in the digital journey of our customers that has been working with the decrease of bureaucracy in the governance of the bank by creating more robust processes and more agile processes. The integral review of our governance of products has generated the space and the conditions to test new solutions and new products with safety and speed. Fundamental characteristics of a company that is going to innovate with its customers. This provided us with autonomy for experimentation and allowed us to learn and discover the agility that our customers need. We are closer to the business areas, the proximity that has been highlighted by the new ways of working with agile and active structures within the communities. That's how we understand the customer. The example of that is the continuous improvement of our credit risk models by the use of data and analytics and artificial intelligence because it allows us to be more assertive in our offerings and indicating the best products to service the needs of different customers. And this is clear when we observe bank performance, which has grown in terms of our credit portfolio without undermining the quality of our assets by offering extremely predictable behavior despite the large volatility, macroeconomic volatility. We have 5 million credit analyses per month that we carry out with support from over 1,000 customized models. With the increase of customer engagement, we've been able to use digital channels, and we've seen an increased journey in the risk journey, which has allowed us to, despite the challenge, increase our safety of our digital settings without undermining our relationship, despite the fact that everything is a lot more complex. We've been able to simplify these interactions with our customer, and at the same time, we've been able to increase our safety. This has translated into more agile customer onboarding, and yet we still are focused on safety. We've been able to see the following. We're able to guide 1 million clients per month to our ATMs in order to use digital channels. In fact, last month, we were able to launch the WhatsApp channel to talk online in real time with our customers about possibly fraudulent transactions. The center of all of our safety decisions continues to focus on the customer first. This is not just an investment in our processes and systems. We are heading a very important market movement. We bring information to make everyone more aware of concrete elements that can help protect them from fraud. 70% of fraud happens through social engineering, where people are led to this fraudulent activity. In August, we launched a mass campaign, which has never been seen in the Brazilian market, to talk openly about safety. In our sustainability agenda, we are constantly seeking to manage risks and social and environmental opportunities of our business. With the credit portfolio, we understand the importance of climate changes for the world and for our business, and we have developed a measure to measure this portfolio sensitivity to climate risk, and we are working to decarbonize our portfolio. We are committed to net zero emissions by 2050, and as you can see, we're excited about what we've been able to build here at the bank, and this is just the beginning. I'd like to hand it back over to Milton. I hope to see you soon at future market events. Thank you, Matias, and I'd like to thank my friends here on the executive committee for these wonderful contributions. This has been a wonderful day. We presented, as you could see, we've advanced on what we presented last year, but we know that we still have a lot of challenges ahead. We're all aligned from the board all the way down to our managers and everybody else. I'd like to call Renato very shortly for questions and answers. We're going to take a very quick break for water, just a quick break, and we'll come back for our question and` answers. Olá, voltamos aqui então agora. Milton acabou de chegar aqui. Milton, tudo bem? E antes de começar a sessão de... Milton's back. We're back. Before we go on to questions and answers, that's our favorite part of the day. We've got a lot of great day with lots of content. Everybody here, Pedro, Roberto, everybody was here. Really, really excited. How has this morning's chat been? It's been wonderful. It's great to be here with you all. We were here last year enjoying this kind of new format for Itaú Day. You know, it's important to tell stories, and what's important is not just telling the stories, but being able to execute them, and that's what we did. We were able to deliver on what we promised, and so that is a really wonderful feeling. We've been able to show how much we progress and advance every single day, so before we jump into questions and answers, I have a few comments that I think are really important. One, we've got a huge audience, over 20,000 people connected right now, and this makes us so... but it also means we need to be responsible, even more responsible. I want to thank all of you for taking some time out of your day to be with us, to listen to what we have to say. It is such an opportunity to be here with you, and this is part of our ESG governance and transparency agenda. It is really important to be here with you, but I really, really want to point out a really special thank you. We have over 20,000 people connected. We have a number of employees, bank employees also watching, so I want to say everything we say here, everything we say here is a representation of you. We represent you. These are things that we've been able to deliver because of you and your work. So I want to thank all of you, our Itaú employees, for all of your hard work, and for those of you watching, and especially our customers, a special thank you to you. Thank you for trusting us. Thank you for believing in us. Thank you for trusting your resources to us. Thank you for talking to us. We love our relationship with you, and we feel very responsible to you for this trust. So this is a digital event. You have no idea how much energy we're feeling here on the stage, but it's contagious for the executives here, for the partners here. We're all really excited. It's such a great moment. The energy levels are really high. It's very hard for you to see that. And this is really what moves us. And this is something that we can't stop. This is what has made us go for 98 years, improving, growing every single year. And this is really part of our DNA. So we've got an extra chair here. This is an event for everybody. So I'd like to invite some of the executives up for these questions and answers. To answer some of the questions, to help me, and answer some of the questions that have popped up. Oh, and there are lots of questions. We've seen questions pop up all morning long, and if we don't have a chance to answer all of them, IR team will answer later. I'd just like to remind you that if you have a question, please send us a WhatsApp or WhatsApp message. Click on the button on the online platform. If you're on YouTube, I think there's a QR code. You can scan the QR code, and we're still taking questions, and again, if we can't answer, we will answer them after the event. Just like last year, before I jump into questions and questions, I'd like Luciana, who has a quick message. Lucy, a quick message. I'd like to thank you all and the entire team. Thank you very much, Lucy. Thank you very much, Lucy. We'll move on to the first question from Lucy. Here's a question we see a lot of. Thank you so much. Thank you for the recognition. Thank you for understanding. You've been here for 27 years. It's such an honor to have you with us. It's so great. I think we've been focused on the customer. That's what we're focusing on. We're customer-centric. We're looking at the customer, and that is going to truly establish whether we are competent or not. We talk a lot about engagement, and it's our customer that really pushes us. We're looking at digital transformation. We're obsessed with our customers. We talk about this new culture. It's all customer-centric. Without customers, we wouldn't be able to deliver what we promised them. But we've seen better competition this year than what we've seen in last year. The reason is because we saw excessive liquidity. We saw low interest rates throughout the world. This meant that a number of fintechs and startups came about in the past few years. In terms of growing bases, we've been very competitive. We've done a great job with customer service, and they've done that. What we've seen is that over time, these business models aren't always sustainable. We've seen a natural adjustment to more healthy competition and kind of a settling down compared to other periods. Our customer focus, this digital transformation, this cultural transformation for us, have been the levers that allow the bank to continue to deliver high-quality products. Now, keep in mind that we are a full bank. We work with individuals all the way up to the largest corporations in the company. We work from the simplest to the most sophisticated products in private banking. We offer basic products. We offer Payflow all the way up to massive bank operations. So we are a full bank, what we call a full bank, and what we've learned over the years is to manage complexity. We understand the customer. We deliver the best product and the best offers for that product. Our portfolio is vast. It's complete. Now, we see that the competition is offering more, has more offers, increasingly more, and they're offering more products, but we're looking at the quality of the products that we offer, and that's what we've been doing every single day. We've got more products and better products for the time being. We look at what we're doing, what others are doing well in the market. We learn from them. We may incorporate that. And we look at what we're doing best, and we evolve and improve. But we do see a natural convergence to a healthy competition in terms of balance, in terms of returns, in terms of business models. We see this focus on sustainable models, push for sustainable models. At the same time, we've been involved in this transformation so that we're as agile and as competitive as the others. So I believe we're headed in the right direction, and the numbers that we saw today are proof of that. Everyone talked wonderfully about what we've been delivering. And it's absolutely wonderful. And there's still great opportunity. We're quite happy with what we've been able to do, with where we are, and we're very excited about what we expect in the future. And competition is good. It's good for the bank. It's good for the system. The ones who benefit at the end are the customers. Thank you so much, Lucy. Thank you, Milton. I think that's great for our first question. Technology. We talked a lot about technology innovation, technological innovation. Milton, first question from our audience is the following. What does the CIO think about Metaverse, blockchain, and the other technological innovations that are now available? I actually like to call up Ricardo Guerra, our CIO, to talk about this. I think he can help us here with the answer. Thank you so much. Alright. Thank you so much for the question. When we look at the Metaverse, we see the following. We're talking about a new technology. We're talking about a new world. We have to find the opportunities. At Itaú Unibanco, we've tested a number of different fronts. One is the institutional front. We use that for experimenting, to sell products, to show our brand. Within these settings, we have a few specific platforms in the Metaverse for our products. We've also worked with gamers. We're also getting closer to gamers, Player's banks, and we offer a great platform where we're exploring different solutions. And finally, we're starting to think about financial products. We haven't launched anything yet, but we have been doing studies, carrying out studies where we've been thinking about financial financial products that adjust to the Metaverse, like assets and crypto, etc. All of this is still in the experimental phase. Moving on to Blockchain. This is a very consolidated, distributed ledger platform. What supports this? You can support this system with a number of different platforms. There are a number of different products that are based on this product, and they're focused on this product, and they've developed because of this Metaverse. But much more than A, B, or C technology, the way we think about technology is important. How can technology generate value for customers? How can technology truly help create new products that will be better for our customers so that they get better results and we have better results? It's not just new technology, but it's the way we build our technology. If we have modular technology that's agile, it will allow us to not just build products faster, but again, we recognize new products, but also deliver value and create something faster. We can innovate more. We can correct course faster. And again, you're meeting customer needs every single time you do this, especially when it comes to speed. When you look at how companies are changing, we can connect faster through an expansion of this value chain with these partnerships. And you see this through our partnerships. This adds more value to our customers because we can offer products that these customers have and that our partners have that we don't yet have. And this is an example of better technology where you connect to these companies, where you offer more value to these customers by offering a larger portfolio of solutions. Here we have an example. We have launched a Metaverse product. We have funds with ETFs or ETF funds with companies in the Metaverse. We've got the COEs that we can bring to investors, assets associated or linked to companies in the Metaverse. There's another important front. We've talked about blockchain and crypto assets. This is a technology that's here to stay. Again, it's not technology for technology's sake, but applying technology and what's the role of technology and how we can improve this customer experience and how we exchange information. That's what we've been focusing on. We have a digital asset department that uses a bunch of these technologies for a consistently more advanced, more tokenized world. We have these intangibles, and we have the assets, and all of these are efficiently traded. And we can do this. We can distribute this to an audience or public that doesn't normally have access to this. So we truly believe that tokenization is already happening, is going to happen. We've been involved in this. In fact, I talked about this in our most recent investors' call. I talked about credit operations, loan operations. We're very excited about this. I believe that we're going to be, and I see that as we get more comfortable with this, we're going to scale this up for more of our customers. This is not just something that's passing. It's not just what's popular right now. We've learned a lot, and we're going to be able to apply these technologies. We've been able, we're going to be able to innovate and bring these more efficiently to our customers so that they grow as well. There are many things happening all at once, and as we say, the technology is a path, not the end. Thank you once again. It's a great pleasure to be here. Can we go to the next one? Okay. Next question is about Latin America. So, Milton, how do you see, how do you see Itaú, its expression in Latin America given the macroeconomics and the interest rates of the region? Well, to answer this question, I'd like to subdivide two elements. First, we have an operation that is very relevant in the region: Uruguay, Paraguay, Argentina, Chile. These are banks that you have a big wholesale treasury and, well, all the operations. And our work, our focus has been to consolidate the operations of the countries that we are already present. These are incredible results. We are creating value for the shareholders. Chile and Colombia, I had the opportunity of spending three years there to help in the foundation of the structure of the integration of the bank itself. And we see today very strong results, important returns on investments. So we are very satisfied with the evolution of the region. The results are appearing in Itaú Chile. This is the way that we are going to refer to the operation Chile, Colombia, and Peru. This is a very core issue: there are some asymmetries that do not allow for any Brazilian operation to be international. From the creation of value for the shareholders, I'm being a bit technical, but there are some tax asymmetries. We pay taxes in Brazil. When we bring the money to Brazil, the interest rate is higher. I have to pay taxes here. We have the capital effect. We work with the capital effect so we can grow the bank. We can create credit, the operational risks, and expanding the market, the capital allocation in Brazil gets strong pressure in the level of return that we need to have in these countries to generate value for the shareholders. We tied, let's just say, in those countries, but the operation generated very good results. It was positive for the bank. It didn't create value, but it didn't consume any value. So it was tied down. So that's the challenge with internationalization. Of course, we are satisfied. We have the clear, well, we have the clear limitations that we have to define the best capital allocation. To grow today outside of Brazil beyond what we have, it's not simple. And as we commented, there are some investments in Uruguay. There are some companies that are improving our investments, and we have to continue to invest where we have a relevant client base, customer base. Well, it's not a, it's not a 100-meter dash. It's a marathon. Well, new models of work, as Guerra has said, you have technology. But if we do not follow up and use the technology in the best way possible, it's not going to work. So we're going to talk about that. You can give us more detail about our new model of work and what are the improvements that we need to have in regards to this theme. Home office was important for the bank? Excellent, excellent question. Well, I have to invite Sergio. Sergio, if you can join us. Actually, I would separate Sergio. I will give the floor to you if you can tell us a little bit more about the news and also tell us about home office and the hybrid flexible model, how we are dealing with the models, and what are the results that we have obtained in this new normal. Welcome, Sergio. Oh, thank you, thank you. Well, let's talk about, sorry, talking about the communities. We have advanced in this model of work, in a more agile work. We want to reach 20,000 people. We have 15,000, 16,000 now. It has worked very well. We are working with that model. They are satisfied. The deliverables are quicker, more agile, and that has reflected in the NPS of our customers that we measure frequently. When we talk about home office, the flexible work, we learned a lot over the last two and some years. We are working remotely, and we learned a lot. We already exercised a new culture. We don't know everything. We use data to do the decision-making process. What have we observed? First, there is a big advancement in the productivity of our employees. Secondly, the more efficient and less costs in operations. It's a model. It's a model that we have to also measure the employee NPS. We are running at 83%, let's just say. It's the highest employee NPS. When we look at employees that are more engaged with a productivity that is higher, with a cost that is lower, we're very excited about this model. What is this model that we have implemented? We have three ways of organizing. First, flexible. Absolutely flexible, where people can decide if they want to work from home, if they want to work from the office, depending on the need, depending on the type of work that has to be done on that day. Secondly, hybrid work, where we have a flexible work with some rules. For example, you have to go to the office twice weekly or in the morning because there is a specific need. Thirdly, 100% on-site. So how is that distributed? About 70% of the people are in the flexible. 26% to 27% have flexible with some rule, 2% to 3% on-site. And we're very satisfied with that, with those results. Because besides all that that I have mentioned, when we look at the two big indicators, final indicators, which is the NPS of the customers and the results of the bank that we delivered in the last quarter, it's exceptional with a quality that is exceptional. And when we look at the set of data, we are very excited to keep this model. Just to finish, when we think about the culture, organizational culture here, how does the organization, how does the culture react to a more flexible remote model? We're in the middle of a cultural transformation that we realized, that we measured, that it's a great success. It allows us to work with the organizational culture with a more flexible model. So when we look at this set of data, we're very excited. We're excited with these three models, and we should improve the way of working. Well, Sergio, I agree. This is something that I realized, which is the differential of our model, which is the capacity to attract talent. It was very strong. We always had the capacity of attracting, but it's impressive how the new generations, they're looking at us, and they want to come here because it's a more mature model. We understand the needs. For example, you get the branches, the on-site never stopped. Well, we have the pure, we are at the front line. So when we need on-site, we're operating with the commercial customers, corporate. The customers, they want on-site meetings. And it's not just on-site all the time. What we find is the maturity level for the organization, for the people, and the level of autonomy and trust that we need to choose to have a meeting, which is on-site or not. With our dynamics here, part of them is on-site, part is remote, and it has worked. It has worked very well. For some dynamics, remote has run very well. So this is a learning that we have with the stakeholders. It's a dedicated area, which is the future of work. And the future is what we're living today. And this area has given us support, which is productivity, results, culture, engagement of the employees and the NPS today that Joe was commenting. If you do comparison, any benchmark, you will see that we are in the first quartile, the first 25%. And so 100,000 collaborators. We have a critical mass and statistics. We noticed that 40,000 people here of the NPS. The results are very good. We're very excited, and we're feeling the excitement day to day. Dedication, productivity. Exactly, and the last important information about attracting talent. For example, we start with technology. We start recruiting people from outside of São Paulo. More than 1,000 people were hired in that way. So we opened a universe of possibilities for us. Other geographies, other cities, and the capacity to attract talent and retain talent. So the NPS is a reflection of that. Thank you very much. Thank you, Sergio. Thank you for the question. The next question, I think that we already mentioned it. We talked about technology and people, but if you want to go over it, how can we be more agile to compete with the current platforms? It would be the fintechs. I'm going to answer this one. I think that the main answer here, I think it's when we talk about the cultural transformation, if we have to define one word, it's speed without forgoing what defines us. We are a financial institution, regulated with a risk management that is key. It's part of our culture, and the changes that we've done at the board of directors, the way that we are dealing with this transformation with the executive committee of all the partners in the bank, it has agility and speed that is great, and why? Because autonomy, responsibility, focus on the customer, capacity for the decision-making process without letting go of the controls, forgoing the controls, so it's less commands and more control, so we follow up, we evaluate all the data. We have an enormous amount of data here for the results. I realize that there is a speed. There is a speed either by the reduction of hierarchy and the elimination of a layer here, or by the new method of work that we've brought. Guerra was talking about the communities. What we're bringing is speed. We have a group of people that are making decisions in the day-to-day with a modern platform, and they are bringing, they're giving deliveries for the customers. Day-to-day, this is important, and this is the journey that we have invested. Being leaders of the teams and directing them and being on the end with the capacity to solve the problems and enchant our customers above all. We are in a different rhythm, different speed. We already mentioned that, and we are very excited with this evolution. Okay, thank you. Well, the next question is something less, it doesn't make me that happy, but we have to talk about this. The frauds, and we have seen an increase in the, for example, frauds and people getting their cell phones being stolen. So how does iPhone, sorry, how does Itaú, how can Itaú help with that? Well, really, we are at a very specific moment. We have a very strong campaign from Itaú, but to talk about this, I would like to bring Matias Granata, and he is the CRO. He works with risk, and he has led this with the day-to-day of fraud and the increase in the phones getting stolen. I mean, well, thank you. Thank you for the question, Mathias. Well, this is a very central issue, and I think it's fundamental. I'm very happy with this question, and it's very relevant, something that we need to approach. With the higher adoption of the digital channels by our customers, we understand that this is exponential. A great deal of the customers are born 100% digital. So the focus of the bank has been on how can we create an environment that is easier for the customers to operate? And the biggest challenge to do that is how can we provide this environment without impacting the journey of the customer, without impacting their experience? In the past, we told the customer to go to the branch to do a transaction. This is not acceptable nowadays. The customer wants to solve a relevant part of their financial life digitally, and we have to provide that safety for our customers. We always have the best technology available, the best tools. Today, for example, we have facial biometrics, and then we're going to have facial biometrics for the transactional part as well. This makes the environment safer so they can operate. The customer can operate better. Nonetheless, and more and more, we realize that we have to make an internal effort, but that's not enough. We have the obligation of helping our customers by providing content, making them aware about the market practices that might lead to a fraud, for example, or what they should do when their phone gets stolen. 70% of the frauds that happen on the digital channels are products of social engineering. It's the fraudster convincing the customer to provide information that allows for the fraud. I would like to. We're in the background. We have a campaign, actually. I remember two, three, four months ago, we started to discuss here that Itaú had the responsibility of being a leader, a leader to the market and talking openly about safety, about the situation that we're living because we need to engage our customers to fight this. And we wanted to see if we're going to create, well, we don't want to frighten our customers, but we have to talk to them. And the more we talk, the greater the capacity to, along with the customer, we can defend ourselves. And that's why we have the campaign that together we protect and doubly protect ourselves. And we've seen a great response from the industry, from the customers, and we believe that the customers will be ever more engaged. But we never forget to be leaders, to be leaders in something that is relevant for the customers, for Brazil, and for our industry as a whole. And I am very happy with the campaign. And this is a continuous effort. It doesn't end tomorrow. It's a continuous effort, and we're going to be together. Well, thank you, Matias. Really, we are very proud of the campaign that we've done. We are not in a campaign to sell our products. We are, in fact, here to protect, to protect our customer regardless of what happened. I mean, this is a campaign that is agnostic. This is in the best interest of the customer, and we are defending also the product and the bank. And this is our role, and it has had great repercussion. And this is, well, we have the role of monitoring and creating the correct ways, simplifying the processes, being as digital as possible. So the customers you are here watching, we are conscientious, and we have to be, when you lose your cell phone, you're losing the chip. You have different frauds of different models, the WhatsApp fraud, somebody from the family asking for resources, the bank answering. And we always ask, "Double-check the data. See if the telephone is not the same." You have to be careful. And there is a third element, which is the regulatory body itself that is paying attention. Here, the concern of the system is with the opening of the accounts, opening so that it's done in the best way possible, so that the processes assure that the person that is opening the bank account is the person itself, that the system captures the information in the best way possible. There is a series of improvements in this, and the regulatory body has helped with the creation of rules and also with the follow-up of the system and the improvements, so we have to fight against our common enemy. Well, great. I've lived through this, and I can see that regulatory bodies are ever more involved, and it's a responsibility of everyone to support the customer. I am very proud here to be here in the bank, and we have the community of safety that goes beyond safety. All the models, when we're thinking about a new product to engage the customer, we're always thinking about safety because if safety is not there, the customer will not use freely our products, and we're not going to service their needs. So we're very engaged with the bank, and we are super happy with the results. And we work directly with the regulator, and this is in our agenda. Well, wonderful, Matias. Thank you. Wonderful. Thank you so much for this question. Thank you so much. A gente tem recebido várias perguntas sobre temas semelhantes, então a gente acaba juntando elas em tema único até ficar mais fácil. We have a lot of top questions on the same topic here, so we kind of bunch them all together. The acquisition agenda, they're all about the acquisition agenda. We've seen a lot of very important operations, Avenue, Ideal, etc. So, what's the strategy on this front? Are these partnership acquisitions going to continue at pace? Or what can we expect? I'm going to give you like a spoiler. Do you have something specific that we're looking at? This associative culture, it's part of our DNA. If we look at Unibanco and Itaú and Itaú Unibanco, it's all based on association, acquisitions, mergers. That's how we, in fact, created Itaú Unibanco. So that is part of us. That has always been one of our objectives. It's not just acquisitions for the sake of acquisitions. Our focus, our strategy is customer-centered. We want to reach customers that we don't yet have through our channels. So these partnerships are very important. Our partnerships with retail are very important. And we also want to have acquisitions that are significant for the bank. So the different channels through TOTVS, for example, that we could offer through the management system that TOTVS already offers. So that's a great partnership. But we can add more. We can improve credit. And TOTVS has a technology and distribution that really stands out to offer these types of solutions. So it makes sense for us to partner with them. It's a fully digital broker. So this is really aligned with our online revolution. We also have an online broker. We've been able to go into HFTs. We've been able to go into markets that traditionally are just digital. They're not on the ground. And where we weren't present before, we didn't have a presence. We now have a presence. When we do this, we're not looking at just the platform. We're looking at capturing human capital and how much of our capital has come from mergers and acquisitions. That's how we really have qualified, trained human capital in our ecosystem. Avenue is our investment ecosystem. We offer our platform to our retail customers. They're the ones that have less access to products like this. We knew that we still need a few approvals from regulatory agencies. We need to make a few more steps that need to be made in terms of integration, but we're on the right path. I think the most important thing is that there's just not one department working on this. We're not looking for a solution for one single problem. It's business heads looking at their ecosystems, understanding what's missing, what do we not have today, and what's available throughout the industry so that we can get quality human capital that can improve our offers. That's why we're working so strongly in terms of mergers, acquisitions, human capital, and development. It's just an extension of what we've been doing for the last over 90 years. Thank you so much. Another important part of our DNA is performance and profitability. Nevertheless, there is always space to improve even more. There's always room to improve even more. So how do you see this? What are the levers that we have? What levers do we have to improve bank efficiency? Great. Can you come up? I think I need to answer this with you. Can you talk about our efficiency agenda? What are our plans in terms of improving efficiency? What have we been able to deliver on? Great. Great question. Yes, we've had some great opportunities that have been presented to us. We have an efficiency program, not a cost reduction program. We're trying to optimize bank revenue and costs, so lowest cost for a specific revenue stream. And that's how we're trying to optimize. That's where we're really focusing on efficiency. And we saw a lot of opportunities. We've looked at transport, things that are really day-to-day, and we focused on reducing costs there. We've looked at platforms, optimization, videos, etc. So all sorts of areas. Our program is one of our schedules. One is not just one that's going to end. The bank doesn't become efficient and it's all over. We don't kind of hit that day, "All right, we're all efficient and everything is great." It's an ongoing process. There's no silver bullet to this. We've got over 1,000 initiatives that we are pursuing. We're cataloging them. We follow up on them. We have metrics for them. Let's look at automation. We may reduce the number of people doing a specific activity because we don't necessarily, because we use them to generate more revenue or something. This is one way we're looking at efficiencies. It's not necessarily just cut people out. So it's always looking at the details. We look at the formulas. We look at the details. We look at what we need. Again, we're looking at results, but from a holistic point of view. Our main objective, of course, is to optimize our efficiency rating. So that's an ongoing process. It never ends. I agree. We really focus on this. This is something that's very important to us. But there are two elements. Efficiency means that we never stop investing in the bank. We always invest in our businesses. We talked about the associative agenda and acquisition. We always invest in business expansion. That's how it was with insurance, with tech, with fintechs, with technology in general. So we don't stop investing in the bank in order to achieve efficiency. Now, costs. If you want to cut costs short-term, that's fine. So you cut costs. You limit revenue. You've got efficiency, maybe. But basically, you're sabotaging the future of the organization. So it's basically not a long-term view. And we don't like that. The other thing is, if you are efficient just for return on investment, just for investors, you're not looking at your customer. We want efficiency for our customers. We're more competitive. We've got lower costs, and it's simpler. So we simplify the organization. And this is something that the customer sees. So it's not just for results for the next quarter. It's not just for profitability's sake. This efficiency is something that means we bring increasingly simpler products at lower prices or better prices for our customers. So it really is customer-centric. It really is strategic, and it is part of our DNA. This is something we focus on every single day. Absolutely. Understanding pricing is very important. If you look at our numbers over time, they're great. If we look at our headcount, we see that there was a huge change over time. Our mix changed drastically. We've seen an increase in technology because of a change to apps, user experience, migration to this user experience. We've seen a decrease in run-the-bank headcount, so people on the ground. So efficiency doesn't mean sacrificing the future. It means thinking about the future. Obviously, the result is that the top line is the bottom line is that we are more efficient from the top line all the way down to the bottom line. Thank you so much. Thank you so much. Okay. We've had a number of investor events. Now we've got 20,000 people here, 20,000 people online. Obviously, we've got questions on dividends. We'd like to know about dividends. The questions here is payouts before the pandemic were quite high, but it's dropped over the last few years. What do we expect payout to be in 2022, 2023? Let me try and simplify this. We decided to pay dividends and payments back then in the past where we had a certain capitalization level. We had a high capital level. When we looked at the future, we didn't expect growth that would require this capital. Our management logic was to create value. That's what moves us. Now, with the capital levels really high and not being able to use this capital to generate profitability for the investor, the result was the decision: a payout because it obviously was the most logical step to make, and we obviously gave it back to the investors. Now that those were the adjustments a few years ago, since then, we have been growing five years running. Profitability has been great. We've been creating value for our shareholders, and our capital levels are much closer to what our appetite would be for use of this capital. So we established a rule back then is that profitability and weighted average risk-weighted averages of the assets were taken into account. That's market risks, operating risks, etc. So we see that these assets, these risk-weighted averages have been increasing. As a result, we have a great payout as a result of all this. Now, dividends are higher because results are higher. So instead of looking at distributed profits, we look at income and dividends. So our work has been the following. We've been to profitize capital, adjust capital, given different and adverse scenarios. Capital has this tendency for unexpected loss. We need to understand capitalization levels. That's on one hand. On the other hand, results have been stronger, as we've seen in the last few years. That means higher dividends, not distributed percentage, but amount per share. And where we don't see perspectives for growth, good perspectives for growth, we can then review these payout percentages, maybe 30% to 35%. In the short term, medium term, we're going to continue working at 25% of profit. That was great, Milton. Thank you so much. That was very clear. We're almost out of time. I think we just have two more questions. Great. Investments. We launched ion, a platform. What is the outlook for it? And what can we expect? Well, when we talk about investments. Hello. Hello. I got a call from Ali here. Thank you. Thank you so much for the question. Thank you for the opportunity to talk about this. Let's talk about three very important aspects. I talked to us very quickly early on, but it's important to understand them in the context of this question. One, ion specialists. They've got great tailwinds. We've got about 2,000 specialists. We've chosen very carefully. They're working with the customers. They're specialists who are very close with the customers. They really understand what our customers' needs are. Right from the beginning, this has been a concern for us with this model. We have nearly 500,000 customers covered with this system. We've seen NPS increasing significantly. We've seen better ratings, better portfolio ratings. I think this model has proven or is proving to be one of great success. We've seen an increase in transparency in the market as a result, and I think this is irreversible. And I think that conflicts are becoming or lack of exemption is going to be much clearer, which is the case for other models. And that's not our model. Our model is one of full transparency. We've got the specialists that are better paid, when customers are happy, when customers make more money, when customers get the right product for their risk profile. First off, there is always an option to work with a number of ways to provide customer service. We look to have these multiple options on the table. I think the first part would be specialists. We're really happy with their work. We're really happy with what they're doing. We continue to expand. We've got ion on demand now. This is for the customers who don't have portfolios. We have a number of models that we're testing, products that we're testing, talking to customers who already have a relationship with the bank but aren't necessarily investors. They don't necessarily invest with the bank. We're working on this. We're working strongly on this right now, and it's been going quite well. You have an option to work with autonomous or outside agents. Our real focus to get customers is with these specialist reps. For the ion, we've got the customer experience as well. We've been focusing on the ion app. We've seen over a million downloads, and the modules that we have developed for the application are optimized for our customer benefits. It's a super app. We have a lot of people using our super app. People are very impacted by the super app, but it is a ramp-up. Not all of the options are available. Nevertheless, the effects have been spectacular in the super app. Approval ratings are higher than 70%. We've seen lots of transformation, lots of changes, especially in investments, so whether this is Uniclass or Personnalité, regardless, we've seen broad recognition of approval of these elements. Again, it's the same thing that are available in the ion. There are a number of journeys that we have, customer journeys that are designed. We have worked them out. We have designed them, but we haven't yet implemented them with immersion into investments. We have a broker kind of home broker that's integrated into the system. It's available on the super app, and this will be for customers who want to just do a deep dive into investments. In addition to developing these pieces, these separate pieces for the super app, we have a third part, which is to broaden and enrich these features. Basically, what we want is a solution where customers are going to have all of these options on the table so they can choose whatever they want, and we are sure that there are a number of different demands depending on the different types of services. There's a demand for everything. There's a need for everything. There's a product for every customer, and soon this is going to be available for non-account holders. So we're going to offer this just broad-based investment options for customers and potential customers. This is great. This is great. In addition to everything you just mentioned, this is one of our biggest investments. We're really happy with how things are developing. We see highly trained teams, high-quality teams. In fact, an independent advisor, an independent board member, was talking to me recently. And he asked, he said, "I want to jump into this." He said, "I want to understand this model." So I shared it with him, and I shared it with a bunch of other people, the executives. And there were a number of. We really received praise. They loved it. They loved how the model was working, the exemption levels. So deep down, investment is yet another product, yet another customer need that we are meeting. So when we look at customer needs, regardless of the product, you're meeting the customer where they are in their cycle, giving them the best product for what they need at that moment. When you depend on businesses and offices and brick and mortar in order to pay the bills and feed your salesforce, you're more subject to have a non-centralized agenda. And this is what we're really focused on. So I suggest you, as investors or customers, compare the products' prices, compare the prices, look at the different rates that are offered, and you'll see that clearly our exemption levels are the best. And the managers are really well paid. Again, if portfolio performance is great for you, it's great for them. So it's a real paradigm shift. We have wonderful products, and this is the customer day. It's customer day every day for us. We're going to invite everyone to access through the app. You're going to find a portfolio of the broker, and you're going to be able to buy a lot of assets, not only shares. We have fixed income primary, a lot of content from ION and the aggregator, 14 billion REITs aggregated, and you have the expenses from different banks. It's very nice, and it's going to be very interesting. Milton, I thank you. Milton, I think that we have 10 minutes to finish, and people will disconnect us at noon. We talked a lot about this Itaú Day. We talked about work and now ESG, Latin America. But there is one point that connects everything, which is a customer. So that's the key issue at Itaú today. So I think that it's more than adequate to finish with a question from, well, focusing on customers and NPS. We focus on NPS for engagement, satisfaction, but a lot of people do not know what NPS is. Can we talk about that? How do we measure it? Can we compare banks with that indicator, that index? What is the current NPS of the bank? How do we use it to, in fact, be focused on the customer? I think that you chose the correct question, Renato, to close. I'm going to ask André Rodrigues to join us. André, he is the leader of this process. How do we understand the tool, the mechanics of the implementation in the bank? André, can you tell us a little bit about the experience, the journey, and what is the wonder of NPS? What do we use that information for? Hi, good morning. I think that the biggest message is that NPS is not just, it's a system. It's a system that we have a robust threshold that, of course, it gives us a very relevant input. But NPS goes through something of induction of behavior to bring the issue of collaborators. There is a phase of this process, which is the inner look, which is translated in several rituals in the organization, which is Itaú Escuta, Itaú listens. So we talk to the commercial customers, the administration, everybody talks to the customers to understand what are the pains. So I think that this is the important point. This is of the system. And as you talk to the customers and you obtain the information and the pains, we translate that into an improvement in the journey. So we redesign the journey. That goes through a process, through the digital experience. And this is very important. So once we understand that and we have done that in a very diligent way, we are using methodologies and tool work, first-class, everything that we're doing at Itaú Escuta, all the insights that we're getting. We can compile, decode, and then apply to our redesign, to the process of redesigning the journey. So with that NPS system, I think that we have to, well, transfer the question, and we have to start with several things. NPS has several different possibilities. We have a transactional NPS, which is a specific touchpoint of the bank. It can be a call to a central phone. And then we evolve with the entirety of the perception of the customer for the service, for their experience, and the competitive NPS, which is the one that you use in regards to the vision of the market. So that starts creating complexity. So we can do the comparison. Not only the NPS that is provided by the institutions is always the same. You're talking about the transactional NPS, high values, the global NPS, and then finally the competitive NPS. So what have we done in the bank? We have more and more. When we're dealing with the ecosystem, with the customer relations, with the client, we have to worry about all three. With our day-to-day activities, we know the transactional NPS of everything that we do. We use that measurement in all the insights that we have, for example, for Itaú Escuta. And then when we redesign the journeys, we start to experiment, experience what is the global NPS. And then last but not least, when we do the comparison, when we look at the market, we have to be careful to do this very carefully. We know that we do that with a lot of diligence, with methodology, but we know that there are different practices. You can do the practice, the response of the customer, and the way that you answer, that you ask the question, and in the way that you present the variability of grading. You can choose different groups of customers, and we don't do that. The methodology is by the book. With the effect, this is the good news. Yesterday, we were in our regular forum, all the executive committee, all the leadership of the bank is taking part. We were measuring the recent results. We were at the all-time high of all the businesses, many of them with advances in 10 points. This is great results over the last two, three years. This is very nice. This is a continuum. We still have a lot of things to do. We are very excited because it's very promising. We can continue to advance in getting more satisfaction from our customers. This is a very important point. The global NPS, a global bank such as Itaú Unibanco, we have to evaluate each business. We have 10, 20, what is the weight, what is the criteria of each? Why do we talk about the evolution? We don't talk about just a number because in the end, we want to show that the bank is evolving and improving every day. We do not just want to show a nice number to say that, again, the issue of narratives. The process, it wasn't done very carefully with a lot of diligence. We need information, quality information, because if we broke the thermometer, the bank will not evolve. This is the main objective. When we have a metric, a measurement that is absolutely. We don't have any induction. We don't have. The only objective is to get the best feedback possible from the customer to improve our journey. You said that we have our meeting. This is a board of directors meeting. All the leaderships of the bank, besides going through the results of the NPS by the NPS per product, per channel, per segment, we also look at competitiveness. We don't know everything. Is there anything else in the market? We have the work of looking at the comments, and we take that into consideration. We also have complaints at the central bank. We take into account. We are the 12th in the list of complaints in the central bank. This is the ranking that we do not want to be the leader. The lowest that we can get is the betters. We are 12th. Being one of the biggest banks in terms of the size of customers, it shows how we are doing with our journey. This is a work of the integrity of the bank. NPS is here, and this is here to stay. This is the work that we improve year on year. Whenever we have the opportunity, we review the numbers, and this is the way that we try to improve the experience of all of our customers. Thank you, André. Thank you, Milton. The best rates of all segments and products of history, and everybody should be very proud. As we say, we want to raise the threshold, raise the bar. Thank you very much, André. Thank you very much. Thank you, Milton. Unfortunately, we ran out of time. We have a lot of questions. Nonetheless, we're going to have to stop here. You can stay with us. We are going to finish our day, and just remember that the questions that we haven't answered thus far, we received many, many more. We will get back to you with the investor relations team. Now, before we finish, there should be a QR code on your screen. If you can, please answer to our satisfaction questionnaire, and also in terms of NPS, we don't have an NPS for investors, but we want to improve on our things, so if you can, please answer, Milton, so we can finish our day. Well, actually, we are getting organized. We try to provide the best information possible, and we try to be as succinct as possible, but it's a great pride and joy to work with my team. You saw that with the executive committee. Everybody is talking about their agendas, deliverables. So we are at a very positive moment. The level of energy is the maximum energy. So this is only possible because our customers that are here watching, they trust us. They have provided feedback. The NPS is a way to provide feedback. But more than that, I trust and I believe in our capacity to reinvent ourselves and deliver a better bank every day. So I would like to thank the customers since we're talking about customers that are here watching today. I'd like to reinforce the thank you to our 100,000, over 100,000 Itubers. This is the fruits of your labor. Please feel represented. You are the official voices of the bank, but your work is also very good. I am very proud of my team. I'm very happy to be a leader in a transformational moment such as this. And last but not least, our investors, we talk about for you investors, for people, for companies that are watching. Thank you very much. We still have a session. Today's day is not over. It's not over for us. We still have a session of meetings with investors with this transparency agenda and the narrative. And more than that, delivery, execution, and results. And with our competition that is also watching, we respect the competition. And I am certain that if you improve, we can improve. If we improve, you improve. And this is the way that we're going to take a quality service for our customers. It's good for everyone. And thank you very much for your time and dedication here. A great pleasure to be here sharing this agenda with you. Thank you very much.