v3.26.1
Consolidated Statements of Cash Flows - BRL (R$)
R$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Income before income taxes R$ 21,024,584 R$ 16,900,515 R$ 10,208,351
Adjustments to reconcile income before income tax to net cash flow from operating activities:      
Expected credit losses on loans and advances 28,677,857 26,636,776 30,176,989
Change in insurance contract liabilities 38,744,724 36,983,145 42,456,177
Net (gains)/losses on financial assets measured at fair value through other comprehensive income 99,338 (1,031,353) (1,841,022)
Expenses with provisions and provisions and legal proceedings 8,651,252 5,962,311 6,339,505
Impairment of financial assets 930,103 889,156 1,940,035
Depreciation 2,445,475 2,624,029 2,626,085
Amortization of intangible assets 4,617,792 4,110,451 3,894,031
Share of profit of associates and joint ventures (2,162,627) (1,531,585) (2,101,681)
(Gains)/losses on disposal of non-current assets held for sale and discontinued operations (183,210) 4,610 (69,294)
(Gains)/Losses from disposal of property and equipment 128,824 (206,129) (139,024)
(Gains)/Losses on the sale of investments in associates (75,760) 9,572 14,350
Effect of changes in foreign exchange rates on cash and cash equivalents 88,334 305,225 (239,325)
(Increase) in assets (477,695,664) (243,462,720) (280,034,814)
Compulsory deposits with the Central Bank (1,593,070) (269,843) (15,544,506)
Loans and advances to financial institutions (42,394,365) 34,811,727 (35,005,630)
Loans and advances to customers (222,988,685) (222,987,244) (111,830,757)
Financial assets measured at fair value through profit or loss (179,396,550) 10,561,049 (85,699,349)
Other assets (31,322,994) (65,578,409) (31,954,572)
Increase in Liabilities 305,928,405 187,376,170 180,319,296
Deposits from banks 115,125,195 75,764,307 79,263,662
Deposits from customers 133,119,132 65,790,467 82,532,445
Financial liabilities measured at fair value through profit or loss 2,027,719 698,391 2,200,896
Insurance contract liabilities 2,177,932 (2,982,547) (2,419,920)
Other provisions (8,121,825) (8,266,381) (6,649,634)
Other liabilities 61,600,252 56,371,933 25,391,847
Cash generated by/(used in) operations (68,780,573) 35,570,173 (6,450,341)
Interest received 119,910,827 102,544,122 102,617,786
Interest paid (106,027,455) (80,755,464) (88,961,324)
Income tax and social contribution paid (7,636,799) (7,130,346) (7,383,749)
Net cash provided by/(used in) operating activities (62,534,000) 50,228,485 (177,628)
Investing activities      
(Acquisitions) of subsidiaries, net of cash and cash equivalents (211,140) (84,767)
(Acquisition) of financial assets measured at fair value through other comprehensive income (106,441,298) (82,179,390) (61,444,346)
Disposal of financial assets measured at fair value through other comprehensive income 114,540,219 59,625,006 112,549,913
Maturity of financial assets at amortized cost 118,844,153 73,546,725 41,071,327
(Acquisition) of financial assets at amortized cost (106,760,956) (75,033,463) (47,841,394)
Disposal of non-current assets held for sale and discontinued operations 1,120,065 614,125 640,484
(Acquisitions) of investments in associates (2,889,926) (1,160,720) (14,333)
Disposal of investments in associates 65,458
Dividends and interest on equity received 401,192 479,427 978,932
(Acquisition) of property and equipment (5,022,225) (2,296,075) (1,953,063)
Proceeds from sale of property and equipment 1,135,547 590,570 1,350,060
(Acquisition) of intangible assets (6,608,243) (5,752,383) (7,187,567)
Interest received on financial assets at FVTPL and amortized cost 51,446,230 26,763,769 45,540,986
Net cash provided by / (used in) investing activities 59,830,216 (5,013,549) 83,606,232
Financing activities      
Funds from securities issued 156,468,949 54,734,757 105,259,934
Payments on securities issued (110,395,146) (56,728,025) (87,026,367)
Funds from subordinated debt issued 8,059,200 9,000,300 1,129,800
Payments on subordinated debt (12,484,908) (5,313,269) (3,569,094)
Lease payments (1,538,211) (1,403,269) (1,665,781)
Non-controlling shareholders (251,292) (439,572) (44,182)
Interest paid on financing liabilities (39,516,788) (16,416,686) (28,219,163)
Interest on equity/dividends paid (11,834,032) (6,541,998) (8,927,917)
Acquisition of treasury shares (222,621) (568,728)
Net cash provided by/(used in) financing activities (11,714,849) (23,676,490) (23,062,770)
(Decrease)/increase in cash and cash equivalents (14,418,633) 21,538,446 60,365,834
Cash and cash equivalents      
At the beginning of the period 208,023,801 186,790,580 126,185,421
Effect of changes in foreign exchange rates on cash and cash equivalents (88,334) (305,225) 239,325
At period end 193,516,834 208,023,801 186,790,580
Increase in cash and cash equivalents R$ (14,418,633) R$ 21,538,446 R$ 60,365,834