MANAGEMENT REPORT – January to September 2013

To our Stockholders

We present the Management Report and the Financial Statements of Itaú Unibanco Holding S.A. (Itaú Unibanco) and its subsidiaries for the period from January to September 2013, in accordance with the regulations established by the Brazilian Corporate Law, the National Monetary Council (CMN), the Central Bank of Brazil (BACEN), the Brazilian Securities and Exchange Commission (CVM), the Superintendency of Private Insurance (SUSEP), and the National Council of Private Insurance (CNSP).

The information included in this material is available in the Investor Relations’ website of Itaú Unibanco: www.itau-unibanco.com.br/ri > Financial Information > Financial Statements > BRGAAP > 2013. Our results may also be accessed on mobile devices and tablets, and through our application “Itaú RI” (APP).

1) ECONOMIC ENVIRONMENT

In the USA the improvement in the labor market has remained, in spite of the tax squeeze in progress: approximately 180 thousand jobs have been created per month since the beginning of the year. Europe recorded a 0.29% growth in the second quarter of 2013, after six quarters of recession. In spite of the improvement in the developed countries, emerging countries still slow down, even though China has started to record signs of stabilization in the pace of its economy.

In its September meeting, the FED, the US central bank, decided to maintain its monetary incentives. This decision has brought liquidity relief for the emerging markets.

In the domestic scenario, even though the economy posted a good performance in the second quarter, the economic fundamentals point towards a GDP growth between 2.0% and 2.5% in 2013, lower than expected in the beginning of the year.

After the US dollar was traded at a level higher than 2.40 R$/US$ in mid-August, the Real appreciated at the end of the quarter as a result of interventions by BACEN and the FED’s decision to postpone the reduction in incentives, and it is now traded close to the 2.20 R$/US$.

Inflation measured by IPCA fell, but continues to be under pressure. The impact of a more depreciated Real over prices should make up for the decrease in the food inflation and the IPCA should close at about 6% in 2013.

In view of the inflationary pressures, BACEN started a cycle of increases in the Selic rate, which in the beginning of October reached 9.50%.

2) HIGHLIGHTS

2.1) Corporate Events/Partnerships

Repurchase of shares – in the third quarter of 2013, we acquired over 14.5 million preferred shares of own issue in the total amount of R$ 406.3 million at the average price of R$ 28.02 per share. In the year-to-date, we acquired 23.5 million preferred shares of own issue at the average price of R$ 28.18. On a voluntary basis and aiming at having transparency with the capital market agents, we monthly disclose the volumes traded and prices practiced in such trading. To obtain further information, please access www.itau-unibanco.com.br/ri > Corporate Governance > Acquisition of Own Shares.

Itaú Unibanco and Fiat Agreement – on August 20 we renewed, for another 10 years, the commercial cooperation agreement we have with Fiat car maker, the leader in sales of vehicles in the Brazilian market. This agreement sets forth the exclusive financing offer in promotional campaigns held by Fiat in connection with the sale of new automobiles and the exclusive use of the Fiat brand in vehicle-financing related activities.

Tax Assessment Notice issued by the Federal Reserve Service of Brazil (RFB) – in August we reported to the market that the RFB had issued a tax assessment notice in the approximate amount of R$ 18 billion related to the Itaú and Unibanco corporate association operation.

RFB disagrees with the type of business organization adopted to unify Itaú’s and Unibanco’s operations. However, the operation format suggested by RFB fails to be supported by the standards applicable to financial institutions in Brazil. Accordingly, we have challenged said tax assessment notice, by claiming that the operations carried out were adequate and that RFB's understanding that there was undue tax gain was flawed. We consider remote the risk of a loss associated to said tax procedure, and this understanding is supported by our lawyers and external advisors.

We reinforce that the operations carried out in 2008 were legitimate, and approved by the management bodies of the involved companies and respective stockholders and subsequently by the applicable authorities, that is, CVM, BACEN and the Administrative Council for Economic Defense (CADE).

2.2) Approval by Regulatory Bodies

The following were approved in the third quarter of 2013:

§ IRB – Brasil Resseguros S.A. Stockholders’ Agreement, by SUSEP, in connection with the privatization process;

§ Agreement with Banco Citibank S.A. for purchase of Credicard and Citifinancial, by CADE (pending approval by BACEN).

2.3) Technology

The civil works of our new data center, under construction in the interior of São Paulo (SP), is progressing as planned and it should be completed in the first quarter of 2014. This new data center will be one of the largest technology centers in the world, with capacity to support the bank’s expanded operations in the coming decades, keeping our commitment to ensure the availability of financial services and always searching for the continuous improvement of quality, agility and satisfaction of our clients.

Our functionalities were made available in our digital channels, with investments dedicated to the improvement and designing of new tools to serve the increasing expansion of these channels, such as internet banking and mobile banking, thus providing quality operations on an expeditious, modern and secure basis. They include:

Biometrics – we made available more advantages for registered clients. Besides withdrawal operations, clients are now able to check current account balances and statements without using a card and password. Biometrics enable carrying out operations with just a fingerprint identification, without the need for typing a password, providing more security and convenience to our clients. To use biometrics, it is enough to register with any Itaú branch.

Itaú Conta Certa (Itaú right account) – in August we launched this new type of current account for Itaú corporate customers, which permits the customization of service packages by choosing the number of deposit slips, credit order documents (DOC), available electronic transfer (TED), and custody of checks, among other, in accordance with their needs. The clients themselves choose, simulate and contract them at any moment, however and whenever they need them, always on the internet.

2.4) Launch

Redecard is now Rede – we have built a new brand, a new positioning and a new business strategy. Rede, a plainer and more direct name – meaning network – summarizes the company’s key attributes, evoking technology, agility and modernity, in addition to creating a young and connected personality. The company’s focus was reviewed, and we will continue serving the merchant, but we are also concerned with the end clients and therefore we will make a closer, quicker and more technology-based service available through digital and mobile media.  

Accomplishing the purpose of being the main partner of sellers of goods and services that seek to expand their business potential, Rede offers its customers a series of products that follow the latest market trends. These include: Mobile Rede (transaction capture through a device coupled to a smartphone or tablet for card reading, or by entering purchase data and customer's signature) and e-Rede (in only one platform, a quick, efficient, fast and complete solution for online payments using a strong anti-fraud security system).

Approximately 300 people will reinforce the commercial team to support this operation. In the last two years, approximately R$ 500 million were invested in the update and standardization of 75% of all readers (of which 50% are wireless readers – POS). By the end of the first half, there were over 1 million merchants affiliated with Rede and over 1.7 million terminals, spread across 89% of Brazilian cities. Its total transactions exceeded 1.6 billion.

New Hiper Brand – we disclosed the launch of our new credit card brand available for all Brazilian consumers, Hiper, accepted in over one million establishments accredited by Rede throughout the Brazilian territory. Hiper is an evolution from Hipercard, the largest Brazilian card brand, and arrives to serve consumers searching for a product with immediate benefits. The first issuer of this brand will be Itaucard, for both the bank’s account holders and non-account holders. Among the benefits, we highlight the following:

(i) conversion of 120% of the annuity amount into bonus for mobile phone, applicable to all telephony operators working with such bonus system;

(ii) cards with the Itaucard 2.0 concept.

ETF in Chile – in September we launched the first ETF (Exchange Traded Fund) in Chile, named It Now IPSA, which replicates the profitability of the most significant 40 shares in the Chilean market. ETF is an investment fund traded on stock exchanges that may be purchased or sold at any moment, like any other company's share. Last year we achieved the right to the exclusive use of the IPSA, IGPA and Inter-10 trademarks for a ten-year period, thus permitting the creation, trading and dealing ETFs of the main indices of the Santiago Stock Exchange.

2.5) Awards and Recognition

The best of Dinheiro 2013 (as Melhores da Dinheiro 2013) – promoted by Isto É Dinheiro magazine, this ranking awards the best companies of the year by using management criteria, this is: financial sustainability, human resources, innovation and quality, social and environmental responsibility and corporate governance. We also won the banking sector ranking for the seventh time.

Época NEGÓCIOS 360º – organized by Época magazine, this guide is organized in partnership with Dom Cabral Foundation, which carries out a thorough assessment of the largest Brazilian companies by considering as criteria: financial performance, corporate governance, human resources practices, innovation, vision of future and social and environmental responsibility. Once again, we achieved the first place in the bank sector in this guide, which is already in its second edition.

The 1,000 Best Investment Funds of 2013 (1000 Melhores Fundos de Investimento 2013) – promoted by the Exame Guide of Personal Investments, in a survey conducted by the Center of Finance Studies of FGV (GVCef-FGV), we were elected the Best Manager of the Year. This award which highlighted the best managers for retail, high-end clients, companies and institutional investors. Among 1,000 open-end funds analyzed, we were also elected in the Best Manager categories:

§ Funds in which investors invest between R$ 50,000 and R$ 250,000 (selective retail);

§ Interbank rate (DI) and short-term funds;

§ Indexed equity funds; and

§ Multimarket investment funds.

Latin American Executive Team 2013 – organized by the Institutional Investor Magazine, this ranking is achieved based on a survey conducted with over 800 managers of investment and pension funds (buy side analysts), brokers and investment banks (sell side analysts) operating in Latin America. It was disclosed on August 20, when we were the winners in six out of the eight ranking categories: Best Investor Relations by the Sell and Buy Sides; the Best CEO by the Sell and Buy Sides; the Best Bank CFO by the Buy Side and the Best Investor Relations Professional by the Buy Side.

Latin America Research Team 2013 – for the first time Itaú BBA was ranked as the number one Research team of Latin America.

Best Cash Management Bank in Brazil – we were recognized for the sixth consecutive year by Euromoney magazine, one of the most important financial market publications.

3) OPERATIONS

Commercial Banking - Retail

We offer a wide range of banking products and services to a diversified base of individuals and companies, the bank’s account holders and non-account holders. We have over 40 million clients and 32.9 thousand points of service throughout Brazil and abroad, by means of 4.1 thousand branches, 870 service centers (PABs) and over 27.9 thousand ATMs. In addition, we also provide, through Itaú 30 horas, a means of accessing and checking accounts, making payments, investments and other banking transactions, with no need to turn to a manager. Our products portfolio includes loans and a number of investment, insurance, foreign exchange and brokerage options, among others.

In the retail segment, we provide five Itaú Uniclass exclusive services, with dedicated managers, investment advisory services, exclusive cashiers, managerial telephone service and higher credit limits. We offer expert services to our high-end clients by means of Itaú Personnalité and, with over 20 years of experience in wealth management, we provide Itaú Private Bank, the largest private bank in Latin America. To meet the needs of our corporate clients, we provide Itaú Empresas. In which the very small, small and medium-market companies are served through a dedicated structure, with specific products and services.

Wholesale and Investment Banking

Our banking operations in the corporate banking segment are carried out by Itaú BBA, which operates with a multidisciplinary team, with agility to carry out operations that are traditional for a commercial bank and transactions in capital markets, mergers and acquisitions, offering full services to over 3 thousand of the largest business groups of Brazil, Argentina, Chile, Colombia and Peru. It also serves approximately 700 institutional investors, ensuring full coverage for the head offices of international clients through the Europe, New York and Shangai units.

In October we included another 20 thousand clients to the Wholesale Banking. These companies, with yearly revenues over R$ 30 million and which were previously served by our Retail sector, may now count on a more specialized structure, thus achieving a customized service. By means of this structure, we offer the same products and services available for the Corporate segment, including those provided by the Investment Banking for strategic mergers and acquisitions or companies going public.

Insurance

Our insurance business basically operates in the lines of life and accident, extended warranty and property damages for individuals and corporate solutions for legal entities. Focused on streamlining the portfolio of products and the efficiency in the engaging processes, our insurance policies are sold, among other channels, in our branches, via telemarketing, internet, ATMs, self-service terminals, local independent brokers and multinational brokers.

We hold 30% of capital of the Porto Seguro Group, the insurance company leading the residence and automobile insurance segment in Brazil. We have an operating agreement with the Porto Seguro Group to offer and distribute, on an exclusive basis, residence and automobile insurance products to clients in our network in Brazil and Uruguay.

External Units

We are present in 19 countries other than Brazil, in commercial banking and institutional client operations, and investment, corporate and private banking activities. Seven of these countries are in South America, which is our priority in terms of international expansion. Our operations also comprise North America, Central America, Europe, Asia and Middle East. In the period from January to September, our business abroad reached a recurring net income of approximately R$ 1.4 billion, with total assets of R$ 241.4 billion, equivalent to 12.3% and 22.3% of the bank’s total, respectively.

4) PERFORMANCE

4.1) Indices

We present below the performance of the main financial indicators:

			%		bps
Performance Ratios	September 30, 2013		September 30, 2012		Change
Recurring return on average equity - annualized		19.8		19.4		40
Return on average equity - annualized		19.6		18.2		140
Risk-Adjusted Efficiency Ratio(1)		71.1		74.5		-340
Recurring return on average assets  - annualized		1.4		1.5		-10
Return on average assets - annualized		1.4		1.5		-10
Nonperforming Loans Index (NPL over 90 days)		3.9		5.1		-120
Basel ratio - economic financial consolidated		17.5		17.5		0
Fixed assets ratio - financial conglomerate		49.8		45.5		430

 (1) Calculated based on international criteria defined in the Management’s Discussion & Analysis Report.

4.2) Income

				R$ billion			%
Statement of Income for the Period(1)	Jan to Sep/13			Jan to Sep/12			Change(2)
Gross income from financial operations		22.6			23.9			-5.1
Expenses for allowance for loan losses		(14.4	)		(18.0	)		-19.9
Income from recovery of credits written off as loss		3.6			3.5			4.8
Banking service fees and income from bank charges		17.5			15.1			15.8
Income from insurance, pension plan and capitalization operations		2.6			2.1			24.9
Personnel, other administrative and operating expenses		(25.9	)		(24.6	)		5.2
Tax expenses		(3.3	)		(3.3	)		-0.7
Income tax and social contribution		(2.8	)		(2.5	)		12.3
Recurring net income		11.2			10.5			5.8
Net income		11.0			10.1			9.4
Dividends and interest on capital (net of taxes)		1.9			2.0			-2.4

(1) Excludes the non-recurring effects of each period.

(2) Change is calculated based on actual figures.

Net income for the period from January to September 2013 reached R$ 11.0 billion, with annualized return of 19.6% on average equity (18.2% in the same period of the previous year). Recurring net income was R$ 11.2 billion, with annualized return of 19.8%. The increase of 15.8% in banking service fees and income from banking charges, the increase of 24.9% in income from insurance, pension plan and capitalization operations, and the decrease of 19.9% in expenses for allowance for loan losses, as compared to the same period of 2012, contributed to the increased net income. We also highlight the increase of 9.3% in the loan portfolio, and noteworthy are the areas of payroll advance loans, mortgage, corporate and foreign operations, as drivers of income through lower risks and provisions. Gross income from financial operations decreased 5.1% and reflects our strategy to prioritize lower risk portfolios.

The risk-adjusted efficiency ratio reached 71.1% at the end of September, as compared to 74.5% recorded for the same period of 2012.

4.3) Asset Data

			R$ billion		%
Balance Sheet	September 30, 2013		September 30, 2012		Change(1)
Total assets		1,082.8		960.2		12.8
Loan portfolio with endorsements and sureties		456.6		417.6		9.3
Free, raised and managed own assets		1,570.3		1,349.0		16.4
Subordinated debt		54.4		48.5		12.1
Stockholders’ equity		78.3		79.0		-0.9
Referential equity (economic-financial consolidated)		116.0		110.8		4.7

(1) Change is calculated based on actual figures.

4.3.1) Assets

Total consolidated assets reached R$ 1.08 trillion at the end of September 2013, which represented a growth of 12.8% when compared to the same period of the previous year. Noteworthy is the 17.6% increase in the institution’s liquidity (cash and cash equivalents added to interbank investments, current).

The diversification of our business is reflected in the composition of our funding and loan portfolio, reducing risks to specific segments, which may be more impacted by the volatility in economy, as follows:

			R$ million		%
Loan Portfolio	September 30, 2013		September 30, 2012		Change
Brazil		420,208		390,149		7.7
Individuals		156,198		148,174		5.4
Credit cards		43,078		36,699		17.4
Personal credit		27,293		28,195		-3.2
Payroll advance loans		20,579		12,547		64.0
Vehicles		42,733		54,046		-20.9
Mortgage loan		22,515		16,687		34.9
Companies		264,010		241,975		9.1
Corporate		178,228		152,527		16.9
Very small, small and middle-market companies		85,782		89,448		-4.1
Latin America		36,354		27,454		32.4
Total with endorsements and sureties		456,561		417,603		9.3
Corporate – Private securities		24,455		20,030		22.1
Total with endorsements, sureties and private securities		481,017		437,632		9.9
Total with endorsements, sureties and private securities (former Vehicles)		438,284		383,587		14.3

On September 30, 2013 the balance of the loan portfolio, including endorsements and sureties, reached R$ 456.6 billion, an increase of 9.3% as compared to September 30, 2012. If we also consider the risks associated to the credits we borrow in the private securities modality, this increase will reach 9.9%. In Brazil, the balance of our loan portfolio to individuals reflects our strategy to prioritize portfolios with lower risks. Highlights:

Brazil
Individuals
Credit Card (Itaucard, Hipercard and partnerships)	We are leaders in the credit card segment in Brazil. From January to September 2013, the transacted amount in debit and credit cards reached R$ 181.5 billion, a 11.8% increase as compared to the same period of 2012. The balance of the loan portfolio reached R$ 43.1 billion, an increase of 17.4% as compared to the same period of the previous year.
Payroll advance loans	Our payroll advance loans portfolio recorded a 64.0% increase when compared to September 30, 2012. The portfolio reached 4.5% of total achieved by the bank, reaching R$ 20.6 billion Banco Itaú BMG Consignado S.A. started operations in December 2012 and is present throughout the Brazilian territory, reaching R$ 5.6 billion of the estimated R$ 12 billion expected for the next 2 years, when the new institution was announced.
Vehicles	In September, we regained leadership in financing granted for brand new vehicles. Since last year, we have reduced the risk in this segment, which enabled us to improve the portfolio quality, with better credit results. We ended this period with a balance of R$ 42.7 billion, 20.9% lower than in the previous period. In the third quarter of 2013, new financing, lease and Finame granted totaled R$ 5.2 billion, a 3.5% increase as compared to the same period of the previous year.
Mortgage loans	We are the leaders in mortgage loans to individuals among the Brazilian private banks. Our offer is made by the network of branches, development companies, real estate agencies and partnerships. By the end of September, we had carried out approximately 27.0 thousand mortgage loans, a 34% increase when compared to the same period of the previous year. Mortgage loans reached R$ 32.0 billion, a growth of 33.1% as compared to September 2012, and noteworthy was the 34.9% increase in financing to individuals.

Companies
Wholesale Banking	The Corporate portfolio, managed by Itaú BBA, is composed of loans in national and foreign currency, mandatory loans (BNDES onlending, Rural Credit and Mortgage Loans) and guarantees. In the period from January to September, noteworthy are the transactions in foreign currency that posted a 10.6% growth, particularly due exchange devaluation, and mandatory loans, which increase was 28.7% as compared to the same period of the previous year. Among Itaú BBA's activities, derivatives stand out. The focus was on operations hedging the exposures to foreign currencies, interest rates and commodities with clients that export or with prices pegged to the movements of international markets. The volume of operations contracted from January through September 2013 was 33.9% higher than in the same period of the previous year.
Latin America
Argentina, Chile, Colombia, Paraguay and Uruguay	Our loan portfolio recorded a significant increase of 32.4% (not considering the effect of exchange variation) in relation to September 2012. We highlight the increase of loan portfolios in the companies segment in Chile, Uruguay and Argentina, which increased 32.7%, 55.4% and 35.1% respectively. In the individuals segment, the 27.1% increase in the Chile portfolio as compared to the same period of the previous year.

Default

In line with our credit granting policy, the total default ratio, considering the balance of transactions overdue for over 90 days, reached 3.9% on September 30, 2013, posting a decrease of 120 bps as compared to September 30, 2012. This ratio has recorded the lowest level since Itaú Unibanco merger in 2008, mainly impacted by the change in the credit profile of our portfolio. This ratio reached 6.0% for the individuals and 2.3% for companies’ portfolio at the end of September 2013, dropping 150 and 100 basis points, respectively, in relation to the same period of the previous year.

Short-term default, measured by the balance of transactions overdue from 15 to 90 days, also recorded a decrease in relation to the same period of the previous year. The reduction of 120 bps in the bank’s total portfolio was mainly due to the decrease of 180 bps in the ratio for individuals.

4.3.2) Funding

Free, raised and managed assets totaled R$ 1.57 trillion on September 30, 2013, a 16.4% growth as compared to the same period of 2012. Of this total, 45.9% refer to investment funds, managed portfolios and technical provisions for insurance, pension plan and capitalization, 25.5% to deposits, debentures, and funds from bills, 24.4% to Free assets and other liabilities, and 4.2% to Onlending, interbank deposits and Foreign borrowings through securities.

As compared to September 2012, we recorded a 26.9% increase in demand deposits added to savings deposits, which are funded at a lower cost, showing the attractiveness of our brand. The increase in funding (net of Compulsory deposits and Cash and cash equivalents) provided improvement in the Loan portfolio and funding ratio, reaching 76.5% on September 30, 2013.

4.3.3) Capital Strength

Basel Ratio – At the end of September 2013, the ratio reached 17.5%, remaining unchanged as compared to the same period of 2012, an event that evidences our strength in the capital base.

Rating Agency – in the beginning of October, Moody’s changed the outlook of the Brazilian sovereign rating from positive to stable, based on the following considerations: (i) the main credit metrics are deteriorating; (ii) the economy is going through an extended low-growth period and (iii) deterioration in the reporting quality of government accounts.

As a consequence of this change, the rating agency downgraded from positive to stable the outlook of the ratings (i) of the issuer and long-term deposit on a global scale and local currency (ii) of long-term deposit, senior and subordinated debt in foreign currency of Itaú Unibanco Holding S.A.

Additionally, in view of the reassessment conducted by the agency on the Brazilian government’s capability to provide system support to the financial system, Moody’s downgraded the ratings: (i) of the long-term issuer on a global scale and local currency, and (ii) of long-term programs/senior debt on a global scale and foreign currency of Itaú Unibanco Holding S.A.

For additional information on ratings, access www.itau-unibanco.com.br/ri > Market Opinion > Ratings.

4.4) Services

Asset Management	In September 2013, we reached R$ 376.3 billion in assets under management, according to the ANBIMA management ranking, accounting for 15.5% of the market. We posted a 9.6% growth in total, particularly in multimarket funds and DI Funds. In addition to this strong local presence, the area has been expanding to the international field, with professionals strategically allocated, seeking adequate investment opportunities and solutions to global clients.
Custody Services	In the custody market, we hold R$ 930.6 billion in assets, according to the ANBIMA management ranking on September, 2013, which represents a 2% increase as compared to the same period of the previous year. In the segment of share bookkeeping services, we account for 63.5% of total companies listed on the BM&FBOVESPA.
Kinea	The investments management company controlled by Itaú Unibanco, holder of R$ 5.5 billion in managed assets, ranked among the largest managers in Brazil of real estate funds, hedge funds and private equity.
Insurance	The change in retained insurance premiums was 10.9% in the first nine months of the previous year, reaching R$ 4,303 million (not including our share in Porto Seguro, in which we hold 30% of capital). The Individual Life and Accident products were outstanding in the third quarter, with record sales as a result of a campaign in the branch network. The card protection insurance also posted a representative growth both in the opening of accounts and in ATMs, with increases of 122% and 81%, respectively, as compared to the third quarter of 2012. Technical provisions for insurance reached R$ 9.7 billion on September 30, 2013.
Pension Plan	The increase in future interest rates in the beginning of the quarter affected fixed-income funds of the pension plan market. Total funding from pension plans totaled R$ 12.8 billion year to date, a 5.2% drop as compared to the same period of the previous year. Revenues from management fees increased 17.3% in the same period, totaling R$ 826.3 million. Technical provisions increased 13.4% in relation to September 2012, totaling R$ 86.0 billion at the end of the period.
Capitalization	Technical provisions for capitalization reached R$ 3.0 billion on September 30, 2013, with a 3.2% increase in the twelve-month period. The collection from capitalization securities reached R$ 1.758 million from January to September, a 18.8% increase when compared to the same period of 2012.
Consortium	A self-financing system for the installment payment of properties and vehicles, the consortium supplements our product portfolio. As it is a service provision, consortium administration does not give rise to default risk or allocation of loan capital for the institution. Consortium income from January to September 2013 reached R$ 274 million, a growth of 79.8% in relation to the same period of the previous year.

Electronic Payment Means (Rede and Hipercard)

Our business is one of the largest in the multi-brand accreditation and merchant acquisition of credit, debt, benefit cards (voucher) and stores (private label) in Brazil. In addition, we carry out the capture, transmission, processing and financial settlement of transactions involving credit and debit cards, factoring, availability of terminals, inquiry on checks, e-commerce, and loyalty programs with partners, and electronic statement, among others. As from the second half of 2013, Rede started to capture transactions from Hipercard. Thus, Hipercard currently has the capture structure and equipment network of Rede in the whole country, increasing its operating efficiency and presence in the domestic level.

Investment Banking

Between January and September 2013, our Merger & Acquisition operation, which provided financial advisory to 26 transactions, totaling US$ 9.6 billion, was outstanding. In fixed income, we took part in operations of debentures, promissory notes and securitization, which totaled R$ 10.7 billion in the period from January to September 2013. In international issues of fixed income, we acted as the joint bookrunner of offerings with a total volume of US$ 18.8 billion. In capital markets, we reached the 1st position in the Origination ranking of ANBIMA of September 2013, with a volume of operations of R$ 3.2 billion.

4.5) Stock Market

Market value – At the end of the third quarter of 2013, Itaú Unibanco was ranked as the 22^nd largest bank in the world based on the market value criterion (R$ 156.4 billion), according to the Bloomberg ranking.

Traded volume – We daily traded R$ 676.8 million on the stock exchanges where our shares are traded, with a daily average volume of R$ 333.5 million (ITUB3 and ITUB4) on BM&FBOVESPA and R$ 343.3 million (ITUB) on the New York Stock Exchange (NYSE), in the year to date.

Dividends/Interest on Capital – In the year to date, we paid or provided for R$ 1,912.6 million in dividends and interest on capital, net of taxes. Net payout for the last twelve months was 30.7%.

Relations with the market – We took part in 20 conferences and road shows in Brazil and abroad, and held 19 out of the 22 Apimec (Association of Capital Market Analysts and Investment Professionals) meetings scheduled for 2013, thus strengthening our relations with stockholders, analysts and investors of the capital markets. We take the opportunity to strengthen our invitation to our relationship audience for the next Apimec meeting in São Paulo, to be held on November 12.

	R$				%
Shares	September 30, 2013		September 30, 2012		Change
Recurring net income per share(1)		2.25		2.12		5.9
Net income per share(1)		2.22		2.03		9.4
Book value per share(1)		15.79		15.89		-0.6
Number of outstanding shares (in thousands)(2)		4,956,804		4,970,068		-0.3
Dividends/Interest on capital, net per share		0.39		0.39		-0.5
Price of preferred share (ITUB4)(2)(3)		31.56		27.85		13.3
Price of common share (ITUB3)(2)(3)		30.17		24.96		20.9
Price of preferred share (PN)(3)/Net income per share		14.19		13.70		3.6
Price of preferred share (PN)(3)/Stockholders’ equity per share		2.00		1.75		14.1
Market value (in billions) (4)(5)		156.4		138.4		13.0

(1) Calculated based on the weighted average of the number of shares;

(2) The number of outstanding shares and the price of share were adjusted to reflect the 10% bonus on May 20, 2013;

(3) Based on the closing quotation on the last day of the period;

(4) Calculated based on the average quotation of preferred shares on the last day of the period (quotation of average PN multiplied by the number of outstanding shares at the end of the period);

(5) R$ 152,6 billion considering the closing quotation of common and preferred (ON and PN) shares multiplied by total outstanding shares of each type of shares.

5) PEOPLE

Itaú Unibanco had approximately 94.3 thousand people at the end of the third quarter of 2013, including over 6 thousand employees in foreign units. The employee’s fixed compensation plus charges and benefits totaled R$ 7.8 billion for this period.

We started the selection process for the Trainee Program 2014, which counted this year on 18.3 thousand enrollments. Among those enrolled, we have youths coming from throughout Brazil, in addition to our interns and employees eligible for the program. The final outcome is expected to be disclosed to the candidates in November.

On October 11, 2013 a collective bargaining agreement was signed in connection with the 2013/2014 collective bargaining process, which resulted in an 8% addition to the salaries of banking sector employees, in addition to other benefits.

6) SUSTAINABILITY

Itaú Unibanco was selected for the 14th consecutive year to make up the Dow Jones Sustainability World Index (DJSI) portfolio, the main sustainability index in the world, in its 2013/2014 edition. Accordingly, it is the only Latin American bank to be part of the index since its creation. In this edition, we achieved the best rate in the banking sector in the criteria “Policies/Anti-crime actions”, “Brand management” and “Financial Stability and Systemic Risk”. The new portfolio includes only eight Brazilian companies, among them two related companies (Itaú Unibanco and Itaúsa). This shows the significance of the corporate sustainability in our organizational culture and long-term vision.

We were elected as one of the companies with the best environmental practices in Brazil in the Época Empresa Verde (Green Company Época) Award (Época magazine), as one of the leading companies in the Empresário Amigo do Esporte 2013 (Entrepreneur Friend of Sport) Award (Ministry of Sport), and we are one of the companies that invested more in this sector under the Sports Incentive Law by supporting sports and para-sports projects.

In this last quarter we published the Itaú Social Welfare 2013 index. Designed by our economy research team, this index takes into consideration human conditions and income distribution in Brazil, in addition to economy conditions.

In the beginning of 2013 we launched the “#issomudaomundo” (change the world) platform, aimed at forging a bond between our purpose of being a transformation agent in the lives of people, our causes and the several projects receiving investments from Itaú in connection with the education, culture, sports and urban mobility pillars. After the Bike Rio, Bike Sampa, Bike PoA and Bike PE (biking in Rio de Janeiro, biking in São Paulo, biking in Porto Alegre and biking in Pernambuco), now comes the time for Bike Salvador (biking in Salvador) in another partnership with the Government of Bahia, which was launched last month.

In October we redesigned the national campaign to encourage reading among children. In this action, adults will be invited to read for children and, to support this invitation, Itaú will offer 4.4 million children’s books free of charge. The purpose is to mobilize society for the importance of reading to a child, showing how this gesture may contribute to ensuring their rights, develop their capacity to learn, and express themselves, in addition to strengthening the affective bond between the child and the adult and developing the taste for reading from an early age. Since 2010, over 30 million books were delivered by the program.

7) INDEPENDENT AUDITORS – CVM Instruction No. 381

Procedures adopted by the Company

The policy adopted by Itaú Unibanco Holding S.A., its subsidiaries, and parent company to engage in non-audit related services from our independent auditors is based on the applicable regulations and internationally accepted principles that preserve the auditor’s independence. These principles include the following: (a) an auditor cannot audit his or her own work, (b) an auditor cannot function in the role of management in companies where he or she provides external audit services; and (c) an auditor cannot promote the interests of his or her client.

During the period from January to September 2013, the independent auditors and related parties did not provide non-audit related services in excess of 5% of total external audit fees.

According to CVM Instruction No. 381, we list below the engaged services and related dates:

§ January 7, March 20, July 31 and August 28 – acquisition of technical material;

§ February 28 – review of aspects related to the business continuity program.

Summary of the Independent Auditors’ justification - PricewaterhouseCoopers

The provision of the above described non-audit related professional services do not affect the independence or the objectivity of the external audit of Itaú Unibanco, its parent and subsidiary/affiliated companies. The policy adopted for providing non-audit related services to Itaú Unibanco is based on principles that preserve the independence of Independent Auditors, all of which were considered in the provision of the referred services, including the approval by the Audit Committee.

8) BACEN - Circular No. 3,068/01

Itaú Unibanco hereby represents to have the financial capacity and the intention to hold to maturity securities classified under the line “held-to-maturity securities” in the balance sheet, in the amount of R$ 3,7 billion, corresponding to 1,3% of total securities held.

9) IFRS (International Financial Reporting Standards)/BRGAAP

We disclosed the consolidated financial statements in accordance with the international financial reporting standards (IFRS), at the same date of this publication, pursuant to CVM/SEP Circular Letter 01/13.

10) ACKNOWLEDGMENTS

We thank our employees for their determination and skills which have been essential to reaching consistent and differentiated results, and our stockholders and clients for their trust.

(Approved at the Board of Directors' Meeting of October 28, 2013).

ITAÚ UNIBANCO HOLDING S.A.

BOARD OF DIRECTORS	EXECUTIVE BOARD
Chairman	Chief Executive Officer
Pedro Moreira Salles	Roberto Egydio Setubal
Vice-Chairmen	Executive Vice-Presidents
Alfredo Egydio Arruda Villela Filho	Alfredo Egydio Setubal (*)
Roberto Egydio Setubal	Candido Botelho Bracher
Members	Executive Directors
Alfredo Egydio Setubal	Caio Ibrahim David
Candido Botelho Bracher	Claudia Politanski
Demosthenes Madureira de Pinho Neto	Eduardo Mazzilli de Vassimon
Gustavo Jorge Laboissière Loyola	Ricardo Baldin
Henri Penchas
Israel Vainboim
Nildemar Secches
Pedro Luiz Bodin de Moraes	Directors
Ricardo Villela Marino	Alexsandro Broedel Lopes
	Ana Tereza de Lima e Silva Prandini
	Eduardo Hiroyuki Miyaki
	Emerson Macedo Bortoloto
AUDIT COMMITTEE	Robert George Stribling
President	Rodrigo Luis Rosa Couto
Gustavo Jorge Laboissière Loyola	Rogério Paulo Calderón Peres
Members
Alkimar Ribeiro Moura	(*) Investor Relations Director
Eduardo Augusto de Almeida Guimarães
Geraldo Travaglia Filho
Guy Almeida Andrade
Luiz Alberto Fiore
FISCAL COUNCIL
President
Iran Siqueira Lima
Members
Alberto Sozin Furuguem	Accountant
Luiz Alberto de Castro Falleiros	Reginaldo José Camilo
	CRC-1SP – 114.497/O-9

ITAÚ UNIBANCO S.A.

Chief Executive Officer and General Manager	Directors (continued)
Roberto Egydio Setubal	Fernando Barçante Tostes Malta
	Fernando Della Torre Chagas
Executive Vice-Presidents	Fernando José Costa Teles
Alexandre de Barros	Fernando Mattar Beyruti
Alfredo Egydio Setubal	Flávio Delfino Junior
Caio Ibrahim David	Francisco Vieira Cordeiro Neto
Claudia Politanski	Gabriel Amado de Moura
Eduardo Mazzilli de Vassimon	Guilherme Martins Vasconcelos
José Castro Araújo Rudge	Henrique Pinto Echenique
Márcio de Andrade Schettini	João Antonio Dantas Bezerra Leite
Marco Ambrogio Crespi Bonomi	Jorge Luiz Viegas Ramalho
Ricardo Villela Marino	José Félix Valencia Ríos
	José Isern
Executive Directors	José Virgilio Vita Neto
André Sapoznik	Leila Cristiane Barboza Braga de Melo
Carlos Eduardo Monico	Luís Eduardo Gross Siqueira Cunha
Fernando Marsella Chacon Ruiz	Luis Tadeu Mantovani Sassi
Flavio Augusto Aguiar de Souza	Luiz Antonio Nogueira de França
Gustavo Adolfo Funcia Murgel	Luiz Eduardo Loureiro Veloso
Luis Antonio Rodrigues	Luiz Fernando Butori Reis dos Santos
Luís Fernando Staub	Luiz Severiano Ribeiro
Milton Maluhy Filho	Marcello Siniscalchi
	Marcelo Boock
Directors	Marcelo da Costa Lourenço
Adilso Martins de Lima	Marcelo Luis Orticelli
Adriano Cabral Volpini	Marco Antonio Sudano
Alberto Fernandes	Marcos Antônio Vaz de Magalhães
Alexandre Jadallah Aoude	Marcos Vanderlei Belini Ferreira
Alexsandro Broedel Lopes	Mario Luiz Amabile
Álvaro de Alvarenga Freire Pimentel	Messias dos Santos Esteves
Ana Carla Abrão Costa	Osvaldo José Dal Fabbro
Ana Tereza de Lima e Silva Prandini	Paulo Meirelles de Oliveira Santos
Andréa Matteucci Pinotti Cordeiro	Renata Helena de Oliveira Tubini
Carlos Eduardo de Castro	Ricardo Lima Soares
Carlos Eduardo Maccariello	Ricardo Orlando
Carlos Henrique Donegá Aidar	Ricardo Ribeiro Mandacaru Guerra
Carlos Orestes Vanzo	Ricardo Urquijo Lazcano
Cesar Padovan	Roberto Fernando Vicente
Cícero Marcus de Araújo	Rodrigo Luis Rosa Couto
Cintia Carbonieri Araújo	Rogério Carvalho Braga
Claudio César Sanches	Rogério Paulo Calderón Peres
Claudio José Coutinho Arromate	Romildo Gonçalves Valente
Cristiane Magalhães Teixeira Portella	Rooney Silva
Cristina Cestari Spada	Sergio Guillinet Fajerman
Daniel Luiz Gleizer	Sergio Souza Fernandes Júnior
Edilson Pereira Jardim	Wagner Bettini Sanches
Fabiana Pascon Bastos

BANCO ITAÚ BBA S.A.
BOARD OF DIRECTORS
Chairman	Directors
Roberto Egydio Setubal	Alberto Zoffmann do Espírito Santo
	Alexandre Enrico Silva Figliolino
Vice-Chairmen	André Carvalho Whyte Gailey
Alfredo Egydio Setubal	André Ferrari
Candido Botelho Bracher	Antonio José Calheiros Ribeiro Ferreira
	Caio Ibrahim David
Members	Cristiano Rogério Cagne
Antonio Carlos Barbosa de Oliveira	Eduardo Cardoso Armonia
Caio Ibrahim David	Eduardo Corsetti
Eduardo Mazzilli de Vassimon	Elaine Cristina Zanatta Rodrigues Vasquinho
Henri Penchas	Emerson Savi Junqueira
João Dionísio Filgueira Barreto Amoêdo	Fabio Massashi Okumura
	Flávio Delfino Junior
	Gilberto Frussa
EXECUTIVE BOARD	Ilan Goldfajn
Chief Executive Officer	João Carlos de Gênova
Candido Botelho Bracher	Luiz Felipe Monteiro Arcuri Trevisan
	Marcello Peccinini de Chiaro
Managing Vice-Presidents	Marcelo Ariel Rosenhek
Alberto Fernandes	Marco Antônio Sudano
Daniel Luiz Gleizer	Mário Lúcio Gurgel Pires
Jean-Marc Robert Nogueira Baptista Etlin	Mário Luís Brugnetti
José Roberto Haym	Rodrigo Pastor Faceiro Lima
	Thales Ferreira Silva
Executive Directors	Vanessa Lopes Reisner
Alexandre Jadallah Aoude
Álvaro de Alvarenga Freire Pimentel
André Luís Teixeira Rodrigues
Fernando Fontes Iunes
José Augusto Durand

ITAÚ  SEGUROS S.A.

Chief Executive Officer

Fernando José Costa Teles

Directors

Adriano Cabral Volpini

Alexsandro Broedel Lopes

Antonio Eduardo Márquez de Figueiredo Trindade

Cláudio José Coutinho Arromate

Fernando Barçante Tostes Malta (*)

Henrique Pinto Echenique

Mario Luiz Amabile

(*) Elected at O/EGM on August 14, 2013. Awaiting Susep approval.

ITAÚ UNIBANCO HOLDING S.A.

Consolidated Balance Sheet (Note 2a)

(In thousands of Reais)

Assets	Note	09/30/2013			09/30/2012
Current assets			793,348,881			706,038,456
Cash and cash equivalents			14,466,493			13,103,962
Interbank investments	4b and 6		192,458,860			162,895,073
Money market			169,580,802			142,631,765
Money market – Assets Guaranteeing Technical Provisions - SUSEP	11b		3,107,401			2,550,201
Interbank deposits			19,770,657			17,713,107
Securities and derivative financial instruments	4c, 4d and 7		203,098,781			180,685,791
Own portfolio			62,556,363			50,363,127
Subject to repurchase commitments			27,293,249			29,028,595
Pledged in guarantee			6,976,675			6,061,433
Securities under resale agreements with free movement			46,674			88,986
Deposited with the Central Bank			12,983,586			12,591,352
Derivative financial instruments			7,140,410			6,289,799
Assets guaranteeing technical provisions - PGBL/VGBL fund quotas	11b		79,779,392			69,856,629
Assets guaranteeing technical provisions – other securities	11b		6,322,432			6,405,870
Interbank accounts			73,070,551			68,050,957
Pending settlement			6,015,643			3,642,547
Central Bank deposits			67,001,420			64,359,216
National Housing System (SFH)			1,599			1,106
Correspondents			51,889			32,654
Interbank onlending			-			15,434
Interbranch accounts			98,045			45,053
Loan, lease and other credit operations	8		199,763,834			190,369,182
Operations with credit granting characteristics	4e		213,468,759			205,865,976
(Allowance for loan losses)	4f		(13,704,925	)		(15,496,794	)
Other receivables			107,643,952			87,441,291
Foreign exchange portfolio	9		52,982,235			40,328,553
Income receivable			1,599,211			1,278,004
Transactions with credit card issuers	4e		19,978,743			17,466,525
Receivables from insurance and reinsurance operations	4m I and 11b		4,636,052			3,832,954
Negotiation and intermediation of securities			3,281,112			2,612,552
Sundry	13a		25,166,599			21,922,703
Other assets	4g		2,748,365			3,447,147
Assets held for sale			168,304			151,515
(Valuation allowance)			(47,482	)		(42,148	)
Unearned premiums of reinsurance	4m I		714,658			703,734
Prepaid expenses	4g and 13b		1,912,885			2,634,046
Long-term receivables			274,873,312			231,030,307
Interbank investments	4b and 6		804,451			447,218
Money market			387			5
Interbank deposits			804,064			447,213
Securities and derivative financial instruments	4c, 4d and 7		69,011,104			53,870,599
Own portfolio			42,407,993			33,015,876
Subject to repurchase commitments			16,569,334			11,117,179
Pledged in guarantee			545,104			611,621
Derivative financial instruments			4,722,572			4,755,155
Assets guaranteeing technical provisions – other securities	11b		4,766,101			4,370,768
Interbank accounts - National Housing System (SFH)			709,581			665,268
Loan, lease and other credit operations	8		161,623,237			141,758,683
Operations with credit granting characteristics	4e		173,570,855			153,944,316
(Allowance for loan losses)	4f		(11,947,618	)		(12,185,633	)
Other receivables			40,442,889			32,944,074
Foreign exchange portfolio	9		6,688			621,334
Sundry	13a		40,436,201			32,322,740
Other assets	4g		2,282,050			1,344,465
Unearned premiums of reinsurance	4m I		269,443			-
Prepaid expenses	4g and 13b		2,012,607			1,344,465
Permanent assets			14,564,629			23,147,466
Investments	4h and 15a Il		3,067,996			3,324,158
Investments in affiliates and jointly controlled entities			2,345,214			2,365,544
Other investments			996,570			1,163,906
(Allowance for losses)			(273,788	)		(205,292	)
Real estate in use	4i and 15b		6,108,484			5,330,113
Real estate in use			3,814,520			3,367,455
Other fixed assets			9,862,468			9,177,275
(Accumulated depreciation)			(7,568,504	)		(7,214,617	)
Goodwill	4j and 15b		44,983			10,068,929
Intangible assets	4k and 15b		5,343,166			4,424,266
Acquisition of rights to credit payroll			1,202,565			1,668,789
Other intangible assets			6,092,547			4,812,760
(Accumulated amortization)			(1,951,946	)		(2,057,283	)
Total assets			1,082,786,822			960,216,229

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Consolidated Balance Sheet (Note 2a)

(In thousands of Reais)

Liabilities	Note	09/30/2013			09/30/2012
Current liabilities			596,435,351			498,055,041
Deposits	4b and 10b		192,810,585			159,641,813
Demand deposits			37,816,640			29,817,694
Savings deposits			98,227,575			77,413,953
Interbank deposits			7,324,006			9,261,769
Time deposits			49,442,364			43,148,397
Deposits received under securities repurchase agreements	4b and 10c		175,113,985			134,124,016
Own portfolio			73,630,824			67,401,791
Third-party portfolio			100,216,519			66,487,407
Free portfolio			1,266,642			234,818
Funds from acceptances and issuance of securities	4b and 10d		25,775,077			32,853,856
Real estate, mortgage, credit and similar notes			19,651,889			23,008,711
Debentures			220			2,616,549
Foreign borrowings through securities			6,122,968			7,228,596
Interbank accounts			7,625,626			4,303,979
Pending settlement			5,099,684			3,167,626
Correspondents			2,525,942			1,136,353
Interbranch accounts			5,365,585			4,055,688
Third-party funds in transit			5,330,107			4,048,132
Internal transfer of funds			35,478			7,556
Borrowings and onlending	4b and 10e		37,607,335			30,292,811
Borrowings			25,431,043			18,623,732
Onlending			12,176,292			11,669,079
Derivative financial instruments	4d and 7h		5,040,150			5,036,698
Technical provision for insurance, pension plan and capitalization	4m II and 11a		11,457,411			11,478,348
Other liabilities			135,639,597			116,267,832
Collection and payment of taxes and contributions			4,430,366			4,517,450
Foreign exchange portfolio	9		53,308,271			40,495,090
Social and statutory	16b II		2,385,194			2,335,915
Tax and social security contributions	4n 4o and 14c		7,843,061			8,375,074
Negotiation and intermediation of securities			6,703,864			5,099,896
Credit card operations	4e		42,172,662			38,979,670
Subordinated debt	10f		4,347,233			4,631,588
Sundry	13c		14,448,946			11,833,149
Long-term liabilities			405,164,984			381,248,470
Deposits	4b and 10b		59,468,640			72,277,542
Interbank deposits			355,763			254,083
Time deposits			59,112,877			72,023,459
Deposits received under securities repurchase agreements	4b and 10c		120,022,467			111,147,697
Own portfolio			91,064,610			94,345,489
Free portfolio			28,957,857			16,802,208
Funds from acceptances and issuance of securities	4b and 10d		24,896,558			24,190,179
Real estate, mortgage, credit and similar notes			14,624,349			16,814,606
Foreign borrowings through securities			10,272,209			7,375,573
Borrowings and onlending	4b and 10e		35,693,745			26,560,967
Borrowings			6,515,533			3,370,086
Onlending			29,178,212			23,190,881
Derivative financial instruments	4d and 7g		4,165,030			4,088,688
Technical provision for insurance, pension plan and capitalization	4m II and 11a		87,300,193			75,802,710
Other liabilities			73,618,351			67,180,687
Foreign exchange portfolio	9		6,794			629,586
Tax and social security contributions	4n, 4o and 14c		12,769,661			13,041,071
Subordinated debt	10f		50,046,294			43,912,152
Sundry	13c		10,795,602			9,597,878
Deferred income	4p		1,085,103			812,922
Minority interest in subsidiaries	16e		1,841,757			1,121,285
Stockholders' equity	16		78,259,627			78,978,511
Capital			60,000,000			45,000,000
Capital reserves			854,358			812,352
Revenue reserves			20,138,600			33,503,773
Asset valuation adjustment	4c, 4d and 7d		(815,451	)		1,189,720
(Treasury shares)			(1,917,880	)		(1,527,334	)
Total liabilities and stockholders' equity			1,082,786,822			960,216,229

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Consolidated Statement of Income (Note 2a)

(In thousands of Reais)

	Note	01/01 to 09/30/2013			01/01 to 09/30/2012
Income from financial operations			67,629,290			76,334,176
Loan, lease and other credit operations			43,313,370			45,900,362
Securities and derivative financial instruments			18,009,052			19,557,163
Financial income from insurance, pension plan and capitalization operations	11c		2,241,423			5,314,080
Foreign exchange operations			991,670			1,001,844
Compulsory deposits			3,073,775			4,560,727
Expenses of financial operations			(34,242,170	)		(37,989,523	)
Money market			(29,829,253	)		(31,515,987	)
Financial expenses on technical provisions for insurance, pension plan and capitalization	11c		(1,901,022	)		(4,803,337	)
Borrowings and onlending			(2,511,895	)		(1,670,199	)
Income from financial operations before loan and losses			33,387,120			38,344,653
Result of allowance for loan losses	8d I		(10,739,752	)		(14,482,032	)
Expenses for allowance for loan losses			(14,384,990	)		(17,959,140	)
Income from recovery of credits written off as loss			3,645,238			3,477,108
Gross income from financial operations			22,647,368			23,862,621
Other operating revenues (expenses)			(8,501,804	)		(10,278,068	)
Banking service fees	13d		12,228,791			10,767,367
Asset management			2,641,025			2,232,894
Current account services			544,602			453,188
Credit cards			5,535,078			4,748,607
Sureties and credits granted			1,278,990			1,165,739
Receipt services			1,060,583			1,051,608
Other			1,168,513			1,115,331
Income from bank charges	13e		5,275,810			4,348,110
Result from insurance, pension plan and capitalization operations	11c		2,649,825			2,121,522
Personnel expenses	13f		(11,236,674	)		(10,286,591	)
Other administrative expenses	13g		(10,749,334	)		(10,549,893	)
Tax expenses	4o and 14a II		(3,295,589	)		(3,317,217	)
Equity in earnings of affiliates, jointly controlled entities and other investments	15a lll		264,694			189,878
Other operating revenues	13h		240,989			193,633
Other operating expenses	13i		(3,880,316	)		(3,744,877	)
Operating income			14,145,564			13,584,553
Non-operating income			23,828			(285,951	)
Income before taxes on income and profit sharing			14,169,392			13,298,602
Income tax and social contribution	4o and 14a I		(2,842,971	)		(2,531,032	)
Due on operations for the period			(6,648,155	)		(6,769,073	)
Related to temporary differences			3,805,184			4,238,041
Profit sharing – Management Members - Statutory - Law No. 6,404 of 12/15/1976			(181,748	)		(122,972	)
Minority interest in subsidiaries	16e		(94,735	)		(542,453	)
Net income			11,049,937			10,102,145
Weighted average of the number of outstanding shares	16a		4,968,122,233			4,969,731,087
Net income per share – R$			2.22			2.03
Book value per share - R$ (outstanding at 09/30)			15.79			15.89
Supplementary information
Exclusion of nonrecurring effects	2a and 22k		105,587			438,832
Net income without nonrecurring effects			11,155,524			10,540,977
Net income per share – R$			2.25			2.12

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Consolidated Statement of Cash Flows

(In thousands of Reais)

	NOTE	01/01 to 09/30/2013			01/01 to 09/30/2012
Adjusted net income			21,053,196			27,687,716
Net income			11,049,937			10,102,145
Adjustments to net income:			10,003,259			17,585,571
Granted options recognized			165,422			151,500
Adjustment to market value of securities and derivative financial instruments (assets/liabilities)	7h		268,713			(930,095	)
Effects of changes in exchange rates on cash and cash equivalents			(1,482,945	)		(1,246,762	)
Allowance for loan losses			14,384,990			17,959,140
Interest and foreign exchange expense from operations with subordinated debt			3,093,938			3,310,483
Interest expense from operations with debentures			41,463			132,004
Financial expenses on technical provisions for pension plan and capitalization			1,901,022			4,803,337
Depreciation and amortization	15b		1,731,928			1,645,983
Adjustment to legal liabilities – tax and social security			(814,063	)		634,853
Adjustment to provision for contingent liabilities			519,636			335,811
Deferred taxes			(3,805,184	)		(4,238,041	)
Equity in earnings of affiliates, jointly controlled entities and other investments	15a lll		(264,694	)		(189,878	)
Interest and foreign exchange income from available-for-sale securities			(5,684,236	)		(3,706,845	)
Interest and foreign exchange income from held-to-maturity securities			(336,502	)		(401,047	)
(Gain) loss from sale of available-for-sale financial assets	7i		262,747			(879,625	)
(Gain) loss from sale of investments			(60,430	)		(235,252	)
(Gain) loss from sale of foreclosed assets			(10,141	)		(15,774	)
(Gain) loss from sale of fixed assets			(2,416	)		6,641
Minority interest			94,735			542,453
Other			(725	)		(93,315	)
Change in assets and liabilities			416,009			20,395,014
(Increase) decrease in assets			(35,431,267	)		(46,859,056	)
Interbank investments			(1,823,198	)		(28,416,038	)
Securities and derivative financial instruments (assets/liabilities)			(2,789,192	)		(25,386,620	)
Compulsory deposits with the Central Bank of Brazil			(3,300,048	)		(643,477	)
Interbank and interbranch accounts (assets/liabilities)			2,043,628			35,116,322
Loan, lease and other credit operations			(34,272,449	)		(30,427,169	)
Other receivables and other assets			2,716,401			743,097
Foreign exchange portfolio and negotiation and intermediation of securities (assets/liabilities)			1,993,591			2,154,829
(Decrease) increase in liabilities			35,847,276			67,254,070
Deposits			9,087,417			(10,717,067	)
Deposits received under securities repurchase agreements			6,353,523			56,453,176
Funds for issuance of securities			(2,867,111	)		3,909,068
Borrowings and onlending			14,175,873			251,718
Credit card operations (assets/liabilities)			(3,438,676	)		(1,256,209	)
Technical provision for insurance, pension plan and capitalization			3,135,945			8,329,215
Collection and payment of taxes and contributions			4,014,553			3,661,475
Other liabilities			5,454,869			6,645,983
Deferred income			(69,117	)		(23,289	)
Payment of income tax and social contribution			(5,055,257	)		(5,611,052	)
Net cash provided by (used in) operating activities			16,413,948			42,471,678
Interest on capital / dividends received from affiliated companies			79,154			15,577
Funds received from sale of available-for-sale securities			28,553,997			15,267,052
Funds received from redemption of held-to-maturity securities			360,937			342,820
Disposal of assets not for own use			88,295			71,676
Disposal of investments			208,428			386,866
Sale of fixed assets			41,863			214,731
Termination of intangible asset agreements			63,137			(643	)
Purchase of available-for-sale securities			(22,219,754	)		(26,975,859	)
Purchase of held-to-maturity securities			(531,438	)		(205	)
Purchase of investments			(80,038	)		(897,123	)
Purchase of fixed assets	15b		(1,707,499	)		(1,258,799	)
Purchase of intangible assets	15b		(1,239,099	)		(1,228,698	)
Net cash provided by (used in) invesment activities			3,617,982			(14,062,605	)
Increase in subordinated debt			-			16,579,927
Decrease in subordinated debt			(3,072,536	)		(10,321,154	)
Increase in debentures			-			1,500,000
Decrease in debentures			(1,610,296	)		(54,251	)
Change in minority interest	16e		362,893			348,314
Acquisition of minority interest in Redecard S.A.			-			(10,807,152	)
Granting of stock options			147,440			197,888
Purchase of treasury shares			(662,215	)		(99,045	)
Dividends and interest on capital paid to minority interests			(9,532	)		(682,058	)
Dividends and interest on capital paid			(5,145,831	)		(5,003,160	)
Net cash provided by (used in) financing activities			(9,990,077	)		(8,340,691	)
Net increase (decrease) in cash and cash equivalents			10,041,853			20,068,382
Cash and cash equivalents at the beginning of the period			40,935,830			37,616,895
Effects of changes in exchange rates on cash and cash equivalents			1,482,945			1,246,762
Cash and cash equivalents at the end of the period	4a and 5		52,460,628			58,932,039

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Consolidated Statement of Added Value

(In thousands of Reais)

	Note	01/01 to 09/30/2013					01/01 to 09/30/2012
Income			77,308,781					78,996,825
Financial operations			67,629,290					76,334,176
Banking services			17,504,601					15,115,477
Result from insurance, pension plan and capitalization operations			2,649,825					2,121,522
Result of loan losses	8d		(10,739,752	)				(14,482,032	)
Other			264,817					(92,318	)
Expenses			(38,122,486	)				(41,734,400	)
Financial operations			(34,242,170	)				(37,989,523	)
Other			(3,880,316	)				(3,744,877	)
Inputs purchased from third parties			(8,570,618	)				(8,614,088	)
Materials, energy and others	13g		(262,531	)				(298,436	)
Third-party services	13g		(2,427,884	)				(2,423,464	)
Other			(5,880,203	)				(5,892,188	)
Data processing and telecommunications	13g		(2,661,544	)				(2,625,572	)
Advertising, promotions and publication	13g		(729,413	)				(674,094	)
Installations			(883,292	)				(955,478	)
Transportation	13g		(339,510	)				(376,322	)
Security	13g		(408,427	)				(384,744	)
Travel expenses	13g		(139,939	)				(139,182	)
Other			(718,078	)				(736,796	)
Gross added value			30,615,677					28,648,337
Depreciation and amortization	13g		(1,388,241	)				(1,217,863	)
Net added value produced by the company			29,227,436					27,430,474
Added value received from transfer	15a lll		264,694					189,878
Total added value to be distributed			29,492,130					27,620,352
Distribution of added value			29,492,130					27,620,352
Personnel			10,198,758		34.6	%		9,206,415		33.3	%
Compensation			8,138,992		27.6	%		7,544,363		27.3	%
Benefits			1,575,454		5.3	%		1,126,465		4.1	%
FGTS – government severance pay fund			484,312		1.6	%		535,587		1.9	%
Taxes, fees and contributions			7,358,224		24.9	%		7,051,397		25.5	%
Federal			6,695,043		22.7	%		6,499,197		23.5	%
State			9,997		0.0	%		18,290		0.1	%
Municipal			653,184		2.2	%		533,910		1.9	%
Return on third parties’ assets - Rent			790,475		2.7	%		717,942		2.6	%
Return on own assets			11,144,672		37.8	%		10,644,598		38.5	%
Dividends and interest on capital			2,137,760		7.2	%		2,201,800		8.0	%
Retained earnings (loss) for the period			8,912,177		30.2	%		7,900,345		28.6	%
Minority interest in retained earnings			94,735		0.3	%		542,453		2.0	%

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Balance Sheet

(In thousands of Reais)

Assets	Note	09/30/2013			09/30/2012
Current assets			12,215,047			25,146,990
Cash and cash equivalents			45,720			15,773
Interbank investments	4b and 6		184,405			24,007,541
Money market			68,892			134,362
Interbank deposits			115,513			23,873,179
Securities and derivative financial instruments	4c, 4d and 7		11,358,780			23,455
Own portfolio			11,358,780			23,455
Other receivables			621,165			1,096,828
Income receivable	15a I		-			24,736
Sundry	13a		621,165			1,072,092
Other assets – prepaid expenses	4g		4,977			3,393
Long-term receivables			39,086,112			21,226,554
Interbank invesments – interbank deposits	4b and 6		38,338,051			14,571,634
SECURITIES AND DERIVATIVE FINANCIAL INSTRUMENTS	4c, 4d and 7		-			6,462,126
Own portfolio			-			6,462,126
Other receivables - sundry	13a		748,061			192,794
Permanent assets			56,004,913			57,202,675
Investments			56,004,791			57,202,478
Investments in subsidiaries	4h and 15a I		56,004,791			57,202,478
Real estate in use	4i		122			197
Total assets			107,306,072			103,576,219
Liabilities
Current liabilities			840,582			5,974,293
Deposits - interbank deposits	4b and 10b		104,110			5,154,518
Funds from acceptance and issuance of securities	4b and 10d		18,667			18,667
Other liabilities			717,805			801,108
Social and statutory	16b II		286,569			518,960
Tax and social security contributions	4n, 4o and 14c		151,120			85,773
Subordinated debt	10f		247,740			150,988
Sundry			32,376			45,387
Long-term liabilities			19,130,706			13,441,549
Funds from acceptance and issuance of securities	4b and 10d		500,000			500,000
Other liabilities			18,630,706			12,941,549
Tax and social security contributions	4n, 4o and 14c		1,297,293			945,131
Subordinated debt	10f		17,315,721			11,979,856
Sundry			17,692			16,562
Stockholders' equity	16		87,334,784			84,160,377
Capital			60,000,000			45,000,000
Capital reserves			854,358			812,352
Revenue reserves			29,213,757			38,685,639
Asset valuation adjustment	4c, 4d and 7d		(815,451	)		1,189,720
(Treasury shares)			(1,917,880	)		(1,527,334	)
Total liabilities and stockholders' equity			107,306,072			103,576,219

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Statement of Income

(In thousands of Reais)

	Note	01/01 to 09/30/2013			01/01 to 09/30/2012
Income from financial operations			2,524,558			2,350,694
Securities and derivative financial instruments			2,524,558			2,350,694
Expenses of financial operations			(750,676	)		(747,201	)
Money market			(750,676	)		(747,201	)
Gross income from financial operations			1,773,882			1,603,493
Other operating revenues (expenses)			5,719,218			5,836,411
Personnel expenses			(175,727	)		(153,606	)
Other administrative expenses			(26,703	)		(30,420	)
Tax expenses	14a II		(171,431	)		(162,726	)
Equity in earnings of subsidiaries	15a I		6,133,477			6,233,593
Other operating revenues (expenses)			(40,398	)		(50,430	)
Operating income			7,493,100			7,439,904
Non-operating income			18,857			18,383
Income before taxes on income and profit sharing			7,511,957			7,458,287
Income tax and social contribution	4p		551,962			791,970
Due on operations for the period			(62,566	)		52,052
Related to temporary differences			614,528			739,918
Profit sharing – Management Members - Statutory - Law No. 6,404 of 12/15/1976			(10,679	)		(2,065	)
Net income			8,053,240			8,248,192
Weighted average of the number of outstanding shares	16a		4,968,122,233			4,969,731,087
Net income per share – R$			1.62			1.66
Book value per share - R$ (outstanding at 09/30)			17.62			16.93
Supplementary information
Exclusion of nonrecurring effects	2a and 22k		105,587			438,832
Net income without nonrecurring effects			8,158,827			8,687,024
Net income per share – R$			1.64			1.75

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Statement of Changes in Stockholders’ Equity (Note 16)

(In thousands of Reais)

	Capital		Capital reserves			Revenue reserves			Asset valuation adjustment (Note 7d)			Retained earnings			(Treasury shares)			Total
Balance at 01/01/2012		45,000,000		763,413			34,422,444			(139,142	)		-			(1,663,562	)		78,383,153
Purchase of treasury shares		-		-			-			-			-			(99,045	)		(99,045	)
Granting of stock options		-		(102,561	)		65,176			-			-			235,273			197,888
Granting of options recognized		-		151,500			-			-			-			-			151,500
Addition to interest on capital paid on 03/13/2012 - year 2011		-		-			(1,450	)		-			-			-			(1,450	)
Payment of interest on capital on 03/13/2012 – declared after 12/31/2011		-		-			(1,846,923	)		-			-			-			(1,846,923	)
Asset valuation adjustment:
Change in adjustment to market value		-		-			-			1,328,862			-			-			1,328,862
Net income		-		-			-			-			8,248,192			-			8,248,192
Appropriations:
Legal reserve		-		-			412,410			-			(412,410	)		-			-
Statutory reserves		-		-			5,633,982			-			(5,633,982	)		-			-
Dividends and interest on capital		-		-			-			-			(2,201,800	)		-			(2,201,800	)
Balance at 09/30/2012		45,000,000		812,352			38,685,639			1,189,720			-			(1,527,334	)		84,160,377
Changes in the period		-		48,939			4,263,195			1,328,862			-			136,228			5,777,224
Balance at 01/01/2013		45,000,000		843,694			39,993,495			1,506,889			-			(1,523,500	)		85,820,578
Reserve Capitalization - ESM 04/19/2013		15,000,000		-			(15,000,000	)		-			-			-			-
Purchase of treasury shares		-		-			-			-			-			(662,215	)		(662,215	)
Granting of stock options		-		(154,758	)		34,363			-			-			267,835			147,440
Granting of options recognized		-		165,422			-			-			-			-			165,422
Addition to interest on capital paid on 03/14/2013 - year 2012		-		-			(1,977	)		-			-			-			(1,977	)
Payment of interest on capital on 03/14/2013 – declared after 12/31/2012 - R$ 0,3824 per share		-		-			(1,727,604	)		-			-			-			(1,727,604	)
Asset valuation adjustment:
Change in adjustment to market value		-		-			-			(2,336,840	)		-			-			(2,336,840	)
Actuarial gain/loss in liabilities of post-employment benefits		-		-			-			14,500			-			-			14,500
Net income		-		-			-			-			8,053,240			-			8,053,240
Appropriations:
Legal reserve		-		-			402,662			-			(402,662	)		-			-
Statutory reserves		-		-			5,512,818			-			(5,512,818	)		-			-
Dividends and interest on capital		-		-			-			-			(2,137,760	)		-			(2,137,760	)
Balance at 09/30/2013		60,000,000		854,358			29,213,757			(815,451	)		-			(1,917,880	)		87,334,784
Changes in the period		15,000,000		10,664			(10,779,738	)		(2,322,340	)		-			(394,380	)		1,514,206

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Statement of Cash Flows

(In thousands of Reais)

	Note	01/01 to 09/30/2013			01/01 to 09/30/2012
Adjusted net income			3,750,454			2,293,992
Net income			8,053,240			8,248,192
Adjustments to net income:			(4,302,786	)		(5,954,200	)
Granting of options recognized			165,422			151,500
Interest and foreign exchange expense from operations with subordinated debt			2,243,647			826,593
Deferred taxes			(614,528	)		(739,918	)
Equity in earnings of subsidiaries	15a I		(6,133,477	)		(6,233,593	)
Amortization of goodwill			43,308			43,308
Effects of changes in exchange rates on cash and cash equivalents			(7,225	)		(2,147	)
Other			67			57
Change in assets and liabilities			612,480			567,551
(Increase) decrease in other receivables and other assets			44,898			137,208
(Decrease) increase in other liabilities			567,582			430,343
Net cash provided by (used in) operating activities			4,362,934			2,861,543
Interest on capital / dividends received			8,166,995			8,762,626
(Increase) decrease in interbank investments			(5,049,564	)		(6,802,463	)
(Increase) decrease in securities and derivative financial instruments (assets / liabilities)			(944,075	)		(6,471,950	)
(Purchase) sale of investments			(259,985	)		(201,451	)
(Purchase) sale of fixed assets			10			(11	)
Net cash provided by (used in) investment activities			1,913,381			(4,713,249	)
Increase (decrease) in deposits			104,110			322,074
Increase in subordinated debt			-			6,447,155
Decrease in subordinated debt			(767,071	)		(340,352	)
(Increase) decrease in funds for issuance of securities			13,125			13,125
Granting of stock options			147,440			197,888
Purchase of treasury shares			(662,215	)		(99,045	)
Dividends and interest on capital paid			(5,145,831	)		(5,003,160	)
Net cash provided by (used in) financing activities			(6,310,442	)		1,537,685
Net increase (decrease) in cash and cash equivalents			(34,127	)		(314,021	)
Cash and cash equivalents at the beginning of the period			141,514			462,009
Effects of changes in exchange rates on cash and cash equivalents			7,225			2,147
Cash and cash equivalents at the end of the period	4a and 5		114,612			150,135

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Statement of Added Value

(In thousands of Reais)

	Note	01/01 to 09/30/2013			01/01 to 09/30/2012
Income			3,116,406			3,111,025
Financial operations			2,524,558			2,350,694
Other			591,848			760,331
Expenses			(750,676	)		(747,201	)
Financial operations			(750,676	)		(747,201	)
Inputs purchased from third parties			(26,344	)		(30,083	)
Third-party services			(11,407	)		(12,924	)
Advertising, promotions and publication			(1,248	)		(1,726	)
Expenses for financial system services			(3,196	)		(3,175	)
Insurance			(2,639	)		(3,314	)
Other			(7,854	)		(8,944	)
Gross added value			2,339,386			2,333,741
Deprecitation and amortization			(67	)		(57	)
Net added value produced by the company			2,339,319			2,333,684
Added value received from transfer	15a I		6,133,477			6,233,593
Total added value to be distributed			8,472,796			8,567,277
Distribution of added value			8,472,796			8,567,277
Personnel			183,759			152,617
Compensation			182,279			150,643
Benefits			1,136			1,549
FGTS – government severance pay fund			344			425
Taxes, fees and contributions			235,506			166,188
Federal			235,468			166,172
Municipal			38			16
Return on third parties’ assets - rent			291			280
Return on own assets			8,053,240			8,248,192
Dividends and interest on capital			2,137,760			2,201,800
Retained earnings (loss) for the period			5,915,480			6,046,392

The accompanying notes are an integral part of these financial statements.

ITAÚ UNIBANCO HOLDING S.A.

Notes to the Financial Statements

From January 1 to September 30, 2013 and 2012

(In thousands of Reais)

Note 1 - Operations

Itaú Unibanco Holding S.A. (ITAÚ UNIBANCO HOLDING) is a publicly-held company which, together with its subsidiaries and affiliated companies, operates in Brazil and abroad, with all types of banking activities, through its commercial, investment, real estate loan, finance and investment credit, and lease portfolios, including foreign exchange operations, and other complementary activities, with emphasis on Insurance, Private Pension Plans, Capitalization, Securities Brokerage and Administration of Credit Cards, Consortia, Investment Funds and Managed Portfolios.

Note 2 – Presentation of the financial statements

a) Presentation of the financial statements

The financial statements of ITAÚ UNIBANCO HOLDING and of its subsidiaries (ITAÚ UNIBANCO HOLDING CONSOLIDATED) have been prepared in accordance with accounting principles established by the Brazilian Corporate Law, including the amendments introduced by Laws No. 11,638, of December 28, 2007, and No. 11,941, of May 27, 2009, in conformity, when applicable, with instructions issued by the Central Bank of Brazil (BACEN), the National Monetary Council (CMN), the Brazilian Securities and Exchange Commission (CVM), the Superintendence of Private Insurance (SUSEP), and the National Council of Private Insurance (CNSP), which include the use of estimates necessary to calculate accounting provisions and valuation of financial assets.

In order to enable the analysis of the net income, the heading “Net income without nonrecurring effects” is presented below the Consolidated Statement of Income, and this effect is highlighted in a heading called “Exclusion of nonrecurring effects” (Note 22k).

As set forth in the sole paragraph of article 7 of BACEN Circular No. 3,068, of November 8, 2001, securities classified as trading securities (Note 4c) are presented in the Balance Sheet under Current Assets regardless of their maturity dates.

Lease Operations are presented, at present value, in the Balance Sheet, and the related income and expenses, which represent the financial result of these operations, are presented, grouped together, under loan, lease and other loan operations in the Statement of Income. Advances on exchange contracts are reclassified from Other Liabilities – Foreign exchange portfolio to Loan Operations. The foreign exchange result is presented on an adjusted basis, with the reclassification of expenses and income, in order to represent exclusively the impact of variations and differences of rates on the balance sheet accounts denominated in foreign currencies.

b) Consolidation

As set forth in paragraph 1, article 2, of BACEN Circular Letter No. 2,804, of February 11, 1998, the financial statements of ITAÚ UNIBANCO HOLDING comprise the consolidation of its foreign branches and subsidiaries.

Intercompany transactions and balances and results have been eliminated on consolidation. The investment funds in which ITAÚ UNIBANCO HOLDING’s companies are the main beneficiaries or holders of principal obligations are consolidated. The investments in these fund portfolios are classified by type of transaction and were distributed by type of security, in the same categories in which these securities had been originally allocated. The effects of the foreign exchange variation on investments abroad are classified in the heading Securities and Derivative Financial Instruments in the Statement of Income.

The difference of Net Income and Stockholders’ Equity between ITAÚ UNIBANCO HOLDING and ITAÚ UNIBANCO HOLDING CONSOLIDATED (Note 16d) results from the adoption of different criteria for the amortization of goodwill originated on purchase of investments and in the record of transactions with minority stockholders where there is no change of control (Note 4q), net of the respective deferred tax assets.

In ITAÚ UNIBANCO HOLDING, the goodwill recorded in subsidiaries, mainly originated from the ITAÚ UNIBANCO merger, is being amortized based on the expected future profitability and appraisal reports or upon realization of the investment, according to the rules and guidance of CMN and BACEN.

In ITAÚ UNIBANCO HOLDING CONSOLIDATED, from January 1, 2010, the goodwill originated from the purchase of investments is no longer fully amortized in the consolidated financial statements (Note 4j). By 12/31/2009, goodwill generated had been fully amortized in the periods investments were made.

The consolidated financial statements comprise ITAÚ UNIBANCO HOLDING and its direct and indirect subsidiaries, among which we highlight:

				Interest in voting capital at						Interest in total capital at
		Incorporation country	Activity	09/30/2013			09/30/2012			09/30/2013			09/30/2012
Banco Dibens S.A.		Brazil	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Banco Itaú Veículos S.A.	(1)	Brazil	Financial institution		100.00	%		100.00	%		100.00	%		99.99	%
Banco Investcred Unibanco S.A.	(2)	Brazil	Financial institution		50.00	%		50.00	%		50.00	%		50.00	%
Banco Itaú Argentina S.A.		Argentina	Financial institution		100.00	%		100.00	%		100.00	%		99.99	%
Banco Itaú BBA International S.A.	(3)	Portugal	Financial institution		0.00	%		99.99	%		0.00	%		99.99	%
Banco Itaú BBA S.A.		Brazil	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Banco Itaú Chile		Chile	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Banco Itaú BMG Consignado S.A	(4) (Note 2c)	Brazil	Financial institution		70.00	%		100.00	%		70.00	%		100.00	%
Banco Itaú Europa Luxembourg S.A.		Luxembourg	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Banco Itaú Paraguay S.A.		Paraguay	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Banco Itaú Suisse S.A.		Switzerland	Financial institution		100.00	%		99.99	%		100.00	%		99.99	%
Banco Itaú Uruguay S.A.		Uruguay	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Banco Itaucard S.A.		Brazil	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Banco Itaucred Financiamentos S.A.	(5)	Brazil	Financial institution		0.00	%		100.00	%		0.00	%		100.00	%
Banco Itauleasing S.A.		Brazil	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
BIU Participações S.A.	(6)	Brazil	Holding company		0.00	%		66.15	%		0.00	%		66.15	%
Cia. Itaú de Capitalização		Brazil	Capitalization		100.00	%		99.99	%		100.00	%		99.99	%
Dibens Leasing S.A. - Arrendamento Mercantil		Brazil	Leasing		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Unibanco Veículos Administradora de Consórcios Ltda.	(7)	Brazil	Consortia administrator		100.00	%		99.99	%		100.00	%		99.99	%
Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento	(2)	Brazil	Consumer Finance Credit		50.00	%		50.00	%		50.00	%		50.00	%
Hipercard Banco Múltiplo S.A.		Brazil	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Administradora de Consórcios Ltda.		Brazil	Consortia administrator		100.00	%		99.99	%		100.00	%		99.99	%
Itaú Ásia Securities Ltd		Hong Kong	Broker		100.00	%		100.00	%		100.00	%		100.00	%
Itau Bank, Ltd.	(8)	Cayman Islands	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Itau BBA Colombia S.A. Corporación Financiera		Colombia	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Itaú BBA International PLC		United Kingdom	Financial institution		99.99	%		99.99	%		99.99	%		99.99	%
Itaú BBA USA Securities Inc.		United States	Broker		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Companhia Securitizadora de Créditos Financeiros		Brazil	Securitization		100.00	%		99.99	%		99.98	%		99.98	%
Itaú Corretora de Valores S.A.		Brazil	Broker		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Distribuidora de Títulos e Valores Mobiliários S.A.		Brazil	Dealer		100.00	%		100.00	%		99.99	%		99.99	%
Itaú Japan Asset Management Limited		Japan	Asset Management		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Middle East Limited		Arabe Emirates	Advisory		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Seguros S.A.		Brazil	Insurance		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Unibanco Financeira S.A. - Crédito, Financiamento e Investimento	(9) (Note 2c)	Brazil	Consumer Finance Credit		100.00	%		50.00	%		100.00	%		50.00	%
Itaú Unibanco S.A.		Brazil	Financial institution		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Unibanco Serviços e Processamento de Informações Comerciais Ltda.		Brazil	Technology services		100.00	%		100.00	%		100.00	%		100.00	%
Itaú Vida e Previdência S.A.		Brazil	Pension Plan		100.00	%		100.00	%		100.00	%		100.00	%
Luizacred S.A. Soc. Cred. Financiamento Investimento	(2)	Brazil	Consumer Finance Credit		50.00	%		50.00	%		50.00	%		50.00	%
Redecard S.A.		Brazil	Acquirer		100.00	%		94.45	%		100.00	%		94.45	%
Tarjetas Unisoluciones S. A. de Capital Variable		Mexico	Credit Card administrator		100.00	%		100.00	%		100.00	%		100.00	%
Unibanco Participações Societárias S.A.	(10)	Brazil	Holding company		0.00	%		99.95	%		0.00	%		99.99	%

(1) New company name of Banco Fiat S.A.

(2) Joint ventures previously proportionately consolidated, became fully consolidated as of 01/01/2013.

(3) Company merged in 02/01/2013 by Itaú BBA International Limited.

(4) New company name of Banco Banerj S.A..

(5) Company merged in 07/31/2013 by Itaú Unibanco S.A.

(6) Company merged on 11/30/2012 proportinately by its shareholders Itaú Unibanco S.A. and Dibens Leasing S.A. - Arrendamento Mercantil.

(7)New company name of Fiat Administradora de Consórcios Ltda.

(8) Does not include Redeemable Preferred Shares (Note 10f).

(9) New company name of FAI - Financeira Americana Itaú S.A. - Crédito, Financiamento e Investimento.

(10) Company merged in 10/31/2012 by Unibanco Negócios Imobiliários Ltda. controlled by Dibens Leasing S.A. - Arrendamento Mercantil.

c) Business development

BSF Holding S.A. (“Banco Carrefour”)

On April 23, 2012 the Central Bank of Brazil approved the Agreement for Purchase and Sale of Sharer entered into on April 14, 2011 by ITAÚ UNIBANCO HOLDING and Carrefour Comércio e Indústria Ltda (“Carrefour Brasil”) in order to acquire 49% of BSF Holding S.A. (“Banco Carrefour”), for the amount of R$ 816,255 million, giving rise to a goodwill of R$ 580,301, through the transfer of shares on May 31, 2012.

FAI - Financeira Americanas Itaú S.A. Crédito, Financiamento e Investimento (“FAI”)

On August 9, 2012, ITAÚ UNIBANCO HOLDING S.A. informed that it would terminate its partnership with Lojas Americanas S.A. (“LASA”), entered into in 2005, for the offering, distribution and sale, on an exclusive basis by FAI (entity jointly controlled by ITAÚ UNIBANCO HOLDING S.A. and LASA), of financial, insurance and pension plan products and services to customers of LASA and its affiliated companies.

As a consequence of said termination, ITAÚ UNIBANCO HOLDING S.A. and LASA entered into, on this date, a purchase agreement and other covenants under which LASA has agreed (i) to sell to ITAÚ UNIBANCO HOLDING S.A. the total interest it held in the capital of FAI for the amount of R$ 95 million; and (ii) to acquire the operating rights held by FAI with respect to the offering, distribution and sale, on an exclusive basis, of financial products and services through the distribution channels of LASA and/or its affiliates, at the approximate amount of R$ 112 million. The completion of the transaction was subject to approval of the Central Bank of Brazil, which was obtained on December 27, 2012.

As a result of this transaction, FAI is no longer an entity controlled jointly by ITAÚ UNIBANCO HOLDING S.A. and LASA, becoming a whole-owned subsidiary of ITAÚ UNIBANCO HOLDING S.A.. At December 31, 2012 the balance of FAI’s balance sheet accounts were fully consolidated; the net income for 2012, however, was partially consolidated.

Redecard

On September 24, 2012, ITAÚ UNIBANCO HOLDING S.A. completed the auction of the Tender Public Offer (OPA) to cancel Redecard’s listed company register, pursuant to the OPA call notice published on August 23, 2012.

As a result of the auction and acquisition private, ITAÚ UNIBANCO HOLDING S.A. purchased, up to September 30, 2012, through its subsidiary Banestado Participações, Administração e Serviços Ltda., 298,989,237 common shares issued by Redecard, representing 44.4% of its capital, and as of now it holds 635,474,593 common shares, representing 94.4% of its capital. The shares were purchased for the unit price of R$ 35.00, totaling R$ 10,469,234 (including charges and brokerage).

With the purpose of completing the purchase of the remaining minority interest, ITAÚ UNIBANCO HOLDING acquired, by way of its subsidiary Banestado Participações, Administração e Serviços Ltda., 36,423,856 common shares (24,207,582 in October 2012; 9,893,659 in November 2012; and 2,322,615 in December 2012) for the amount, offered at the OPA of September 24, 2012, of R$ 35.00, plus SELIC variation for the period, redeemed 999,884 common shares and canceled 72,372 treasury shares, thus increasing its interest in the capital, from 94.4% to 100.0%, totaling the amount of R$ 1,282,959 (including fees and brokerage).

On October 18, 2012, the Securities and Exchange Commission (CVM) cancelled Redecard’s register as a publicly-held company.

Changes in ownership interest in a subsidiary, which do not result in loss of control, are accounted for as capital transactions and any difference between the amount paid and the amount corresponding to minority stockholders should be recognized directly in consolidated stockholders' equity - caption Revenue Reserve.

Association agreement with Banco BMG S.A.

On July 9, 2012 ITAÚ UNIBANCO HOLDING entered into an Association Agreement with Banco BMG S.A. ("BMG"), aiming at the offering, distribution and commercialization of payroll debit loans through the incorporation of a financial institution, the Banco Itaú BMG Consignado S.A. (“Itaú BMG Consignado”). After obtaining the previous approval required for starting operations, issued by the Administrative Council for Economic Defense (CADE) on October 17, 2012, the final documents were signed on December 13, 2012 and Banco BMG has been a stockholder of Itaú BMG Consignado since January 7, 2013. The completion of the operation was subject to the approval of the Central Bank of Brazil, which was obtained on April 18, 2013.

Credicard

On May 14, 2013, Itaú Unibanco Holding, signed with Banco Citibank, a Share and Quotas Purchase Agreement for the acquisition of Banco Citicard S.A. and Citifinancial Promotora de Negócios e Cobranças Ltda., for the amount of R$ 2,767 million, including “Credicard” brand.

Banco Credicard and Citifinancial are those entities responsible for the supply and distribution of financial products and services under “Credicard” brand, principally personal loans and credit cards. The operation has a credit portfolio (gross amount) worth R$ 7.3 billion (as of the baseline date of December 31, 2012) and with a credit card base of 4.8 million.

The conclusion of this operation and the effective payment shall be contingent on the approval of the appropriate regulators and will not result in significant impacts on consolidated financial statements.

Cencosud S.A.

On June 17, 2013, Itaú Unibanco Holding, signed a Memorandum of Understanding with Cencosud S.A. (“Cencosud”), a Chilean retail chain, whereby the parties have agreed to a strategic alliance, to be implemented, for a period of 15 years.

The purpose of the association will be to offer financial services and products to the consumer through Cenconsud’s retail business in Chile and Argentina, more particularly services and products related to credit card issue and operations (“Transaction”). The association’s activities will be carried out of specific purpose entities in Chile and Argentina, whose equity stock will be held by Itaú Unibanco and Cencosud, at 51% and 49% respectively. At present, Cencosud’s credit portfolio in Chile and Argentina associated with consumer credit activities amount to approximately US$ 1.3 billion.

In the light of the Transaction, Itaú Unibanco will pay the amount of approximately US$ 307 million to Cencosud. The Transaction is not expected to have any significant accounting impact on the results of Itaú Unibanco Holding, which will consolidate the association in its financial statements.

The implementation of the Transaction is contingent on compliance with certain conditions precedent including the approval of the appropriate regulatory authorities.

BMG Seguradora S.A.

On June 25, 2013, Itaú Unibanco Holding, whereby Banco Itaú BMG Consignado S.A. (“JV”), which is a entity indirectly controlled by Itaú Unibanco signed a Share Purchase Agreement with controlling shareholders of Banco BMG S.A. (“Sellers”) whereby JV agreed to acquire 99.996% of the shares issued by BMG Seguradora S.A..

Following the fulfillment of certain conditions precedent, including the approval of this transaction by the appropriate regulatory authorities, the JV will acquire such shares through one of its controlled entities and pay approximately R$ 85 million to Sellers. BMG Seguradora generated R$ 62.6 million in retained premiums during 2012 and, from January to May 2013, a retained premiums’ volume of R$ 42.4 million, 77% higher than the volume generated during the same period of 2012.

BMG Seguradora will execute exclusivity agreements with Banco BMG S.A and the JV for the purpose of distributing insurance products to be offered jointly with the products distributed by such financial institutions.

Such acquisition is not expected to have any significant accounting impact on the results of Itaú Unibanco Holding, which will consolidate the transaction in its financial statements.

Citibank N.A. Uruguay Branch

On June 28, 2013, Itau Unibanco Holding, whereby its subsidiary Banco Itaú Uruguay S.A. (“BIU”) executed hereof a binding agreement with Citibank N.A. Uruguay Branch (“Citi”) establishing the rules for the acquisition by BIU of the retail business conducted by Citi in Uruguay.

As result of this transaction, BIU will assume a portfolio of more than 15,000 clients in Uruguay related to the retail business (bank accounts, saving and term deposits). The acquired assets include mainly the credit card operations conducted by Citi in Uruguay under the Visa, Mastercard and Diners brand, which is represented in 2012 slightly more than 6% of the Uruguayan market share.

The amount involved in the transaction is not material for Itaú Unibanco Holding and, therefore, will not cause any material accounting effect in its results.

The closing of the transaction is subject to this fulfillment of certain conditions precedent, including the approval by competent regulatory authorities.

Partnership with Fiat

On August 20, 2013, ITAU UNIBANCO HOLDING informed that it renewed for another 10 years, by means of its subsidiary Itaú Unibanco S.A., the commercial cooperation agreement entered into with Fiat Group Automobiles S.p.A. and Fiat Automóveis S.A. (“Fiat”). This agreement sets forth: (i) exclusive financing offer in promotional campaigns held by Fiat car maker Fiat for the sale of new automobiles; and (ii) the exclusive use of Fiat brand in vehicle-financing related activities.

This operation is not expected to have significant effects on the results of ITAU UNIBANCO HOLDING.

Note 3 – Requirements of capital and fixed asset limits

a) Basel and fixed asset ratios

The main indicators at September 30, 2013, according to present regulation, are as follows:

	Financial			Economic-financial
	conglomerate (1)			consolidated (2)
Referential equity (3)		122,937,961			115,991,201
Basel ratio		18.0	%		17.5	%
Tier I		12.5	%		11.8	%
Tier II		5.5	%		5.7	%
Fixed assets ratio (4)		49.8	%		14.5	%
Excess capital in relation to fixed assets		219,169			41,200,919

(1) Consolidated financial statements including financial companies only;

(2) Consolidated financial statements comprising all direct and indirect subsidiary companies, including insurance, pension plan, capitalization companies and other non-financial companies, as provided for in CMN Resolution No. 2,723 of June 1, 2000, amended by CMN Resolution No. 2,743, of June 28, 2000;

(3) The CMN, through Resolution No. 3,444, of February 28, 2007, determined the Referential Equity (PR), for purposes of calculating operating limits, as being the sum of both Tier I and Tier II levels, following the international experience, each of them comprising items from stockholders' equity, as well as subordinated debt and hybrid capital and debt instruments;

(4) The difference between the fixed asset ratio of the financial conglomerate and the economic-financial consolidated arises from the inclusion of non-financial subsidiary companies, which provide high liquidity and low level of fixed asset ratio, with a consequent decrease in the fixed asset ratio of the economic-financial consolidated amounts, enabling, when necessary, the distribution of funds to the financial companies.

Management considers the current Basel ratio (17.5%, based on Economic-financial consolidated) to be adequate, taking into account the following:

a) It exceeds by 6.5 percent the minimum required by the authorities (11.0 %); and

b) In view of the realizable values of assets (Note 18) and the additional provision (exceeding the minimum required) (Note 8c) the ratio would increase to 18.4%.

CMN Resolution No. 3,490, of August 29, 2007, provides for the criteria for computation of the Required Referential Equity (PRE). For calculation of the risk portions, the procedures of Circular No. 3,360, of September 12, 2007 and Circular No 3,644, of March 04, 2013 for credit risk, of Circulars Nos. 3,361, 3,362, 3,363, 3,364, 3,366 and 3,368, of September 12, 2007, 3,388, of June 4, 2008, and 3,389, of June 25, 2008, 3,498, of June 28, 2010 and 3,568, of December 21, 2011, and Circular Letters Nos. 3,310, of April 15, 2008 and 3,498, of April 08, 2011 for market risk, and Circulars Nos. 3,383, of April 30, 2008 and 3,476, of December 28, 2009 and Circular Letters Nos. 3,315 and 3,316, of April 30, 2008, for operational risk were followed. For the operational risk portion, ITAÚ UNIBANCO HOLDING opted for the use of the Alternative Standardized Approach.

Circular No. 3,608, of August 17, 2012, changes the procedures for calculating the portion of Required Referential Equity (PRE) related to the foreign currency risk (Pcam), mentioned in Circular No. 3,568.

Up to December 31, 2013, in the event these exposures are equal to or lower than 2.0% of the PR, the Pcam value will be equal to zero. Should the new rules already be applicable, the ratios would be reduced by about 0.2%.

The referential equity used for calculation of ratios and composition of risk exposures at September 30, 2013, are as follows:

	Financial conglomerate					Economic-financial consolidated
Stockholders' equity ITAÚ UNIBANCO HOLDING S.A. (consolidated)		78,259,627					78,259,627
Minority interest in subsidiaries		1,761,793					1,260,999
Corporate reorganizations		6,445,478					-
Consolidated stockholders’ equity (BACEN)		86,466,898					79,520,626
Deferred tax assets excluded from Tier I		(584,390	)				(584,944	)
Deferred permanent assets excluded from Tier I		(177,014	)				(176,934	)
Adjustments to market value – securities and derivative financial instruments excluded from Tier I		829,951					829,951
Preferred shares with clause of redemption excluded from Tier I		(876,589	)				(876,603	)
Tier I		85,658,856					78,712,096
Subordinated debt		38,425,361					38,425,361
Preferred shares with clause of redemption		175,318					175,318
Adjustments to market value -securities and derivative financial instruments		(829,951	)				(829,951	)
Tier II		37,770,728					37,770,728
Tier I + Tier II		123,429,584					116,482,824
Exclusions:
Funding instruments issued by financial institutions		(491,623	)				(491,623	)
Referential equity		122,937,961					115,991,201
Risk exposure:
Exposure weighted by credit risk (EPR)		621,386,227					594,723,309
Portion required for credit risk coverage (PEPR)		68,352,485		91.2	%		65,419,564		89.9	%
a) Per weighting factor (FPR):
FPR at 20%		617,134		0.8	%		1,170,225		1.6	%
FPR at 35%		691,116		0.9	%		691,116		0.9	%
FPR at 50%		3,728,993		5.0	%		4,396,685		6.0	%
FPR at 75%		24,190,210		32.3	%		23,840,672		32.7	%
FPR at 100%		34,049,894		45.4	%		30,113,203		41.4	%
FPR at 150%		2,287,512		3.1	%		2,282,126		3.1	%
FPR at 300%		2,185,577		2.9	%		2,323,488		3.2	%
Derivatives – potential future gain		602,049		0.8	%		602,049		0.8	%
b) Per type:
Securities		3,858,890		5.1	%		3,894,547		5.3	%
Loan operations - retail		10,180,638		13.6	%		9,928,892		13.6	%
Loan operations – non-retail		24,247,148		32.3	%		24,247,559		33.3	%
Joint obligations - retail		31,447		0.0	%		31,447		0.0	%
Joint obligations – non-retail		6,175,833		8.2	%		6,171,165		8.5	%
Loan commitments - retail		2,740,626		3.7	%		2,641,962		3.6	%
Loan commitments – non-retail		1,807,135		2.4	%		1,807,524		2.5	%
Other exposures		19,310,768		25.8	%		16,696,468		22.9	%
Portion required for operational risk coverage (POPR)		4,053,186		5.4	%		4,869,743		6.7	%
Retail		704,308		0.9	%		704,308		1.0	%
Commercial		1,260,066		1.7	%		1,260,066		1.7	%
Corporate finance		113,908		0.2	%		113,908		0.2	%
Negotiation and sales		1,283,127		1.7	%		1,283,127		1.8	%
Payments and settlements		299,597		0.4	%		299,597		0.4	%
Financial agent services		175,453		0.2	%		175,453		0.2	%
Asset management		211,832		0.3	%		211,832		0.3	%
Retail brokerage		4,895		0.0	%		4,895		0.0	%
Business plans		-		0.0	%		-		0.0	%
Conef additional		-		0.0	%		816,557		1.1	%
Portion required for market risk coverage:		2,565,194		3.4	%		2,510,685		3.4	%
Gold, foreign currency and operations subject to foreign exchange variation (PCAM)		-		0.0	%		-		0.0	%
Operations subject to interest rate variation (PJUR)		2,152,828		2.9	%		2,098,319		2.9	%
Fixed rate denominated in Real (PJUR1)		369,726		0.5	%		385,985		0.5	%
Foreign currency coupon (PJUR2)		1,006,068		1.3	%		935,300		1.3	%
Price index coupon (PJUR3)		714,997		1.0	%		714,997		1.0	%
Interest rate coupon (PJUR 4)		62,037		0.1	%		62,037		0.1	%
Operations subject to commodity price variation (PCOM)		195,207		0.3	%		195,207		0.3	%
Operations subject to stock price variation (PACS)		217,159		0.3	%		217,159		0.3	%
Required referential equity		74,970,865		100.0	%		72,799,992		100.0	%
Excess capital in relation to required referential equity		47,967,096		64.0	%		43,191,209		59.3	%
Total exposure weighted by risk [EPR + (1/0.11 X (POPR + PCAM + PJUR + PCOM + PACS)		681,553,319					661,818,113
Ratio (%)		18.0					17.5
Referential equity calculated for covering the interest rate risk of operations not classified into the trading portfolio (RBAN)		2,527,139					2,815,347

During this period, the effects of the changes in legislation and balances were as follows:

	Financial conglomerate									Economic-financial consolidated
Changes in the Basel Ratio	Referential equity			Weighted exposure			Effect			Referential equity			Weighted exposure			Effect
Ratio at 12/31/2012		119,945,380			661,796,536			18.1	%		109,420,835			654,872,105			16.7	%
Net income for the period		9,747,282			-			1.5	%		11,054,802			-			1.7	%
Interest on capital and dividends		(3,867,341	)		-			-0.6	%		(3,867,341	)		-			-0.6	%
Benefits to employees - CVM Resolution No. 695, December 13, 2012		14,500			-			0.0	%		14,500			-			0.0	%
Granting of options recognized		165,422			-			0.0	%		165,422			-			0.0	%
Corporate reorganizations		-			-			0.0	%		(470,886	)		-			-0.1	%
Granting of stock options – exercised options in the period		147,440			-			0.0	%		147,440			-			0.0	%
Asset valuation adjustment		(2,336,840	)		-			-0.4	%		(2,336,840	)		-			-0.4	%
Treasury Shares		(662,215	)		-			-0.1	%		(662,215	)		-			-0.1	%
Subordinated debt and redeemable preferred shares		(546,708	)		-			-0.1	%		2,274,270			-			0.4	%
Deferred assets excluded from Tier I of referential equity		(37,545	)		(37,545	)		0.0	%		(37,798	)		(37,798	)		0.0	%
Other changes in referential equity		368,586			-			0.1	%		289,012			-			0.0	%
Changes in risk exposure		-			19,794,328			-0.5	%		-			6,983,806			-0.2	%
Ratio at 09/30/2013		122,937,961			681,553,319			18.0	%		115,991,201			661,818,113			17.5	%

b) Capital for insurance activity

CNSP – Conselho Nacional de Seguros Privados (National Council for Private Insurance) published on February 18, 2013 rules No. 280 (revoked Resolution No. 411 of December 22, 2010), No. 282 (revoked Resolution No. 227 of December 06, 2010), No. 283 and No. 284. These rules establish general guidelines for the operation of insurance companies and capital requirements for underwriting and operational risk. In January 2011, CNSP Resolution No. 228 of December 6, 2010 provided criteria for additional credit risk capital requirements for insurance companies.

Note 4 – Summary of the main accounting practices

a)   Cash and cash equivalents - For purposes of Consolidated Statement of Cash Flows, this item includes cash and current accounts in banks (considered in the heading cash and cash equivalents), interbank deposits and securities purchased under agreements to resell – funded position that have original maturities of up to 90 days or less.

b) Interbank investments, remunerated restricted credits – Brazilian Central Bank, remunerated deposits, deposits received under securities repurchase agreements, funds from acceptance and issuance of securities, borrowings and onlending, subordinated debt and other receivables and payables – Transactions subject to monetary correction and foreign exchange variation and operations with fixed charges are recorded at present value, net of the transaction costs incurred, calculated “pro rata die” based on the effective rate of transactions, according to CVM Resolution No. 649 of December 16, 2010.

c) Securities - Recorded at cost of acquisition restated by the index and/or effective interest rate and presented in the Balance Sheet, according to BACEN Circular No. 3,068, of November 8, 2001. Securities are classified into the following categories:

· Trading securities – acquired to be actively and frequently traded, and adjusted to market value, with a contra-entry to the results for the period;

· Available-for-sale securities – securities that can be negotiated but are not acquired to be actively and frequently traded. They are adjusted to their market value with a contra-entry to an account disclosed in stockholders’ equity;

· Held-to-maturity securities – securities, except for non-redeemable shares, for which the bank has the financial condition and intends or is required to hold them in the portfolio up to their maturity, are recorded at cost of acquisition, or market value, whenever these are transferred from another category. The securities are adjusted using the accrual method through their maturity date, not being adjusted to market value.

Gains and losses on available-for-sale securities, when realized, are recognized at the trading date in the statement of income, with a contra-entry to a specific stockholders’ equity account.

Decreases in the market value of available-for-sale and held-to-maturity securities below their related costs, resulting from non-temporary reasons, are recorded in results as realized losses.

d) Derivative financial instruments - these are classified on the date of their acquisition, according to management's intention of using them either as a hedge or not, according to BACEN Circular No. 3,082, of January 30, 2002. Transactions involving financial instruments, carried out upon the client’s request, for their own account, or which do not comply with the hedging criteria (mainly derivatives used to manage the overall risk exposure), are stated at market value, including realized and unrealized gains and losses, which are recorded directly in the statement of income.

The derivatives used for protection against risk exposure or to modify the characteristics of financial assets and liabilities, which have changes in market value highly associated with those of the items being protected at the beginning and throughout the duration of the contract, and which are found effective to reduce the risk related to the exposure being protected, are classified as a hedge, in accordance with their nature:

· Market Risk Hedge – financial assets and liabilities, as well as their related financial instruments, are accounted for at their market value plus realized and unrealized gains and losses, which are recorded directly in the statement of income.

· Cash Flow Hedge - the effective amount of the hedge of financial assets and liabilities, as well as their related financial instruments, are accounted for at their market value plus realized and unrealized gains and losses, net of tax effects, when applicable, and recorded in a specific account in stockholders’ equity. The ineffective portion of the hedge is recorded directly in the statement of income.

e)  Loan, lease and other credit operations (operations with credit granting characteristics) – These transactions are recorded at present value and calculated “pro rata die” based on the variation of the contracted index and interest rate, and are recorded on the accrual basis until the 60th day overdue in financial companies, according to the estimate of receipt. After the 60th day, income is recognized upon the effective receipt of installments. Credit card operations include receivables arising from the purchases made by cardholders. The funds related to these amounts are recorded in Other Liabilities – Credit Card Operations, which also include funds arising from other credits related to transactions with credit card issuers.

f)   Allowance for loan losses - the balance of the allowance for loan losses was recorded based on a credit risk analysis, at an amount considered sufficient to cover loan losses according to the rules determined by CMN Resolution No. 2,682 of December 21, 1999, among which are:

· Provisions are recorded from the date loans are granted, based on the client’s risk rating and on the periodic quality evaluation of clients and industries, and not only in the event of default;

· Taking into account default exclusively, the write-off as losses occur after 360 days of credits have matured or after 540 days for operations that mature after a period of 36 months.

g) Other assets - these assets are mainly comprised of assets held for sale relating to real estate available for sale, own real estate not in use and real estate received as payment in kind, which are adjusted to market value through the set-up of a provision, according to current regulations, reinsurance unearned premiums (Note 4m I); and prepaid expenses, corresponding to disbursements, the benefit of which will occur in future periods.

h) Investments – investments in subsidiary and affiliated companies are accounted for under the equity method. The consolidated financial statements of foreign branches and subsidiaries are adapted to comply with Brazilian accounting practices and converted into Reais. Other investments are recorded at cost and adjusted to market value by setting up a provision in accordance with current standards.

i) Fixed assets - These assets are stated at cost of acquisition or construction, less accumulated depreciation, adjusted to market value until December 31, 2007, when applicable. For insurance, pension plan and capitalization operations, property and equipment are adjusted to market value supported by appraisal reports. They correspond to rights related to tangible assets intended for maintenance of the company’s operations or exercised for such purpose, including assets arising from transactions that transfer to the company their benefits, risks and controls. The items acquired through Lease contracts are recorded according to CVM Resolution No. 554, of November 12, 2008, as contra-entry to Lease obligations. Depreciation is calculated using the straight-line method, based on monetarily restated cost.

j) Goodwill – corresponds to the amount paid in excess for the purchase of investments and is amortized based on expected future profitability or as realized. It is annually tested for impairment.

k) Intangible assets – correspond to rights acquired whose subjects are intangible assets intended for maintenance of the company or which are exercised for such purpose, according to the CMN Resolution No. 3,642, of November 26, 2008. They are composed of (i) the goodwill amount paid on acquisition of the company, transferred to intangible assets in view of the transfer of the adquirer’s equity by the acquired, as set forth by Law No. 9532/97, to be amortized based on the period defined in appraisal reports; (ii) rights acquired to credit payrolls and partnership agreements, amortized over the agreement terms, and (iii) soft ware and customer portfolios, amortized over a term varying from five to ten years.

l) Impairment of assets – a loss is recognized when there is clear evidence that assets are stated at a non-recoverable value. This procedure is adopted semiannually.

m) Insurance, pension plan and capitalization operations - Insurance premiums, acceptance coinsurance and selling expenses are accounted for in accordance with the insurance effectiveness term, through the recognition and reversal of the provision for unearned premiums and deferred selling expenses. Interest arising from fractioning of insurance premiums is accounted for as incurred. Revenues from social security contributions, gross revenue from capitalization certificates and respective technical provisions are recognized upon receipt.

I - Credits from operations and other assets related to insurance and reinsurance operations:

· Insurance premiums receivable - Refer to installments of insurance premiums receivable, current and past due, in accordance with insurance policies issued;

· Reinsurance recoverable amounts – Refer to claims paid to the insured party pending recovery from Reinsurer, installments of unsettled claims and incurred but not reported claims - Reinsurance (IBNR), classified in assets in accordance with the criteria established by CNSP Resolution No. 162, of December 26, 2006, as amended by CNSP Resolution No. 195, of December 16, 2008, and SUSEP Circular No. 464, of March 1, 2013;

· Reinsurance unearned premiums – Recognized to determine the portion of reinsurance unearned premiums, calculated “pro rata die”, and for risks of policies not issued computed based on estimates, based on the actuarial technical study and in compliance with the criteria established by CNSP current legislation as amended by CNSP Resolution No. 195, of December 16, 2008, and SUSEP Circular No. 464, of March 1, 2013.

II - The technical provisions of insurance, pension plan and capitalization are recognized according to the technical notes approved by SUSEP and criteria established by current legislation.

II.I- Insurance and pension plan:

· Provision for unearned premiums – it is recognized for the coverage of amounts payable related to claims and expenses to be incurred, throughout the terms to be elapsed, in connection with the risks assumed at the calculation base date. The provision includes an estimate for effective and not issued risks (PPNG-RVNE).

· Provision for unsettled claims - it is recognized for the coverage of expected unsettled amounts related to single payments and income overdue, of claims reported up to the calculation base date, including accepted coinsurance operations, gross of reinsurance operations, and net of ceded coinsurance operations. The provision should include, whenever required, IBNER (claims incurred but not sufficiently reported) for the aggregate development of claims reported but not paid, which amounts may be changed throughout the process up to the final settlement.

· Provision for claims incurred and not reported (IBNR) – it is recognized for the coverage of expected unsettled amounts related to claims incurred but not reported up to the calculation base date, including accepted coinsurance operations, gross of reinsurance operations, and net of ceded coinsurance operations.

· Mathematical provisions for benefits to be granted - it is recognized until the event triggering the benefit occurs, for coverage of the commitments assumed with the participants or insured, and it is calculated in accordance with methodologies approved in the technical actuarial note of the plan or product.

· Mathematical provisions for granted benefits - it is recognized after the event that triggering the benefit occurs, for coverage of the commitments assumed with the participants or insured, and it is calculated in accordance with methodologies approved in the technical actuarial note of the plan or product.

· Provision for financial surplus – recognized to ensure the amounts intended for distribution of financial surplus, in accordance with regulation in force, in the event it is stated in the agreement.

· Other technical provisions – recognized when insufficiency of premiums or contributions are identified related to payments of claims and benefits.

· Provision for redemptions and other amounts to regularize – it comprises the amounts related to redemptions to regularize, returns of premiums or funds, portability requested but, for any reason, not yet transferred to the insurance company or open private pension entity beneficiary, and premiums received but not quoted.

· Provision for related expenses - recognized for the coverage of expected amounts related to expenses with claims and benefits.

II.II - Capitalization:

· Mathematical provision for capitalization – recognized until the event triggering the benefit occurs, and comprises the portion of the amounts collected for capitalization. It includes monetary restatement and interest, as from the beginning of the validity date.

· Provision for redemption – recognized as from the date of the event triggering the redemption of the certificate and/or the event triggering the distribution of the bonus until the date of the financial settlement or the date the evidence of payment of the obligation is received

· Provision for raffles unrealized – comprises the portion of the amounts collected for raffles for each certificate, which raffles have been cost, but that, at the recognition date, have not yet been realized.

· Provision for raffles payable – recognized as from the date the raffle is drawn until the date of the financial settlement or the date the evidence of payment of the obligation is received, or in conformity with other cases provided by law.

· Supplementary provision for raffles – recognized to supplement the Provision for Raffles to be Drawn, and is used for coverage of possible insufficient amounts related to the expected amount of raffles to be drawn.

· Provision for administrative - recognized for the coverage of expected amounts related to administrative expenses with capitalization plans.

n) Contingent assets and liabilities and legal liabilities – tax and social security - assessed, recognized and disclosed according to the provisions set forth in CMN Resolution No. 3,823 of December 16, 2009, and BACEN Circular Letter No. 3,429 of February 11, 2010.

I - Contingent assets and liabilities

Refer to potential rights and obligations arising from past events, the occurrence of which is dependent upon future events.

· Contingent assets - not recognized, except upon evidence ensuring a high reliability level of realization, usually represented by claims awarded a final and unappealable judgment and confirmation of the recoverability of the claim through receipt of amounts or offset against another liability;

· Contingent liabilities - basically arise from administrative proceedings and lawsuits, inherent in the normal course of business, filed by third parties, former employees and governmental bodies, in connection with civil, labor, tax and social security lawsuits and other risks. These contingencies are calculated based on conservative practices, being usually recorded based on the opinion of legal advisors and considering the probability that financial resources shall be required for settling the obligation, the amount of which may be estimated with sufficient certainty. Contingencies are classified either as probable, for which provisions are recognized; possible, which are disclosed but not recognized; and remote, for which recognition or disclosure are not required. Any contingent amounts are measured through the use of models and criteria which allow their adequate measurement, in spite of the uncertainty of their term and amounts.

Escrow deposits are restated in accordance with the current legislation.

Contingencies guaranteed by indemnity clauses in privatization processes and with liquidity are only recognized upon judicial notification with simultaneous recognition of receivables, without any effect on results.

II - Legal liabilities – tax and social security

Represented by amounts payable related to tax liabilities, the legality or constitutionality of which are subject to judicial defense, recognized at the full amount under discussion.

Liabilities and related escrow deposits are adjusted in accordance with the current legislation.

o) Taxes - these provisions are calculated according to current legislation at the rates shown below, using the related calculation bases.

Income tax	15.00	%
Additional income tax	10.00	%
Social contribution (1)	15.00	%
PIS (2)	0.65	%
COFINS (2)	4.00	%
ISS up to	5.00	%

(1) For ITAÚ UNIBANCO HOLDING and its financial subsidiaries and equivalent companies, the rate corresponds to 15.00%. For non-financial and pension plan subsidiaries, the rate is 9.00%.

(2) For non-financial subsidiaries that fall into the non-cumulative calculation system, the PIS rate is 1.65% and COFINS rate is 7.60%.

The changes introduced by Laws No. 11,638 and No. 11,941 (articles 37 and 38), which modified the criterion for recognizing revenues, costs and expenses, computed to determine the net income for the year, did not produce effects for purposes of determining the taxable income of companies that opt for the Transition Tax Regime (RTT), so for tax purposes the rules effective on December 31, 2007 were followed. The tax effect arising from the adoption of such rules is recorded, for accounting purposes, in the corresponding deferred assets and liabilities.

p) Deferred income – this refers to: (i) unexpired interest received in advance that is recognized in income as earned, and (ii) the negative goodwill on acquisition of investments arising from expected future losses, which has not been absorbed in the consolidation process.

q) Transactions with minority stockholders - Changes in ownership interest in a subsidiary, which do not result in loss of control, are accounted for as capital transactions and any difference between the amount paid and the amount corresponding to minority stockholders is recognized directly in consolidated stockholders' equity.

r) Post-employments benefits

Pension plans - defined benefit plans

The liability (or asset, as the case may be) recognized in the consolidated balance sheet with respect to the defined benefit plan corresponds to the present value of the defined benefit obligations on the balance sheet date less the fair value of the plan assets. The defined benefit obligation is annually calculated by an independent actuarial consulting company using the projected unit credit method. The present value of the defined benefit obligation is determined by discounting the estimated amount of future cash flows of benefit payments based on the Brazilian treasury long term securities denominated in reais and with maturity periods similar to the term of the pension plan liabilities.

The following amounts are recognized in the consolidated statement of income:

· current service cost – defined as the increase in the present value of obligations resulting from employee service in the current period;

· interest on the net amount of assets (liabilities) of defined benefit plans is the change, during the period, in the net amount recognized in assets and liabilities, due to the time elapsed, which comprises the interest income on plan assets, interest expense on the obligations of the defined benefit plan and interest on the asset ceiling effects.

Actuarial gains and losses arise from the non-realization of the actuarial assumptions established in the latest actuarial evaluation as compared to those effectively carried out, as well as the effects from changes in such assumptions. Gains and losses are fully recognized in Other Comprehensive Income.

Pension plans - defined contribution

For defined contribution plans, contributions to plans made by ITAÚ UNIBANCO HOLDING, through pension plan funds, are recognized as an expense when due.

Other post-employment benefit obligations

Certain companies that merged into ITAÚ UNIBANCO HOLDING over the past few years were sponsors of post-employment healthcare benefit plans and ITAÚ UNIBANCO HOLDING is committed as per the acquisition contracts to maintain such benefits over specific periods, as well as in relation to the benefits granted due to a judicial sentence. Such benefits are also accounted for in accordance with CVM Resolution No. 695 of 12/31/2012, in a manner similar to defined benefit plans.

Note 5 - Cash and cash equivalents

For purposes of Statement of Cash Flows, cash and cash equivalents of ITAÚ UNIBANCO HOLDING CONSOLIDATED are composed of the following:

	09/30/2013		09/30/2012
Cash and cash equivalents		14,466,493		13,103,962
Interbank deposits		12,407,063		7,133,667
Securities purchased under agreements to resell – Funded position		25,587,072		38,694,410
Total		52,460,628		58,932,039

In ITAÚ UNIBANCO HOLDING it is composed of the following:

	09/30/2013		09/30/2012
Cash and cash equivalents		45,720		15,773
Securities purchased under agreements to resell – Funded position		68,892		134,362
Total		114,612		150,135

Note 6 - Interbank investments

	09/30/2013												09/30/2012
	0 - 30		31 - 180		181 - 365		Over 365		Total		%		Total		%
Money market		89,720,337		74,860,468		4,999,997		387		169,581,189		87.8		142,631,770		87.3
Funded position (*)		28,250,334		5,187,898		1,892,769		387		35,331,388		18.3		59,375,019		36.3
Financed position		61,470,003		42,061,869		-		-		103,531,872		53.6		66,487,167		40.7
With free movement		10,963,703		42,061,869		-		-		53,025,572		27.5		4,799,734		2.9
Without free movement		50,506,300		-		-		-		50,506,300		26.1		61,687,433		37.8
Short position		-		27,610,701		3,107,228		-		30,717,929		15.9		16,769,584		10.3
Money market – Assets Guaranteeing Technical Provisions - SUSEP		3,107,401		-		-		-		3,107,401		1.6		2,550,201		1.6
Interbank deposits		12,567,088		1,875,691		5,327,878		804,064		20,574,721		10.6		18,160,320		11.1
Total		105,394,826		76,736,159		10,327,875		804,451		193,263,311				163,342,291
% per maturity term		54.6		39.7		5.3		0.4
Total – 09/30/2012		120,713,331		36,520,186		5,661,556		447,218		163,342,291
% per maturity term		73.8		22.4		3.5		0.3

(*) Includes R$ 3,916,589 (R$ 10,143,039 at 09/30/2012) related to money market with free movement, in which securities are basically restricted to guarantee transactions at the BM&FBovespa S.A. - Bolsa de Valores, Mercadorias e Futuros (Securities, Commodities and Futures Exchange) and the Central Bank of Brazil (BACEN).

In ITAÚ UNIBANCO HOLDING the portfolio is composed of Money market – Funded position falling due in up to 30 days amounting to R$ 68,892 (R$ 134,362 at 09/30/2012) and Interbank deposits with maturity of 31 to 180 days amounting to R$ 115,364 (R$ 23.703.002 at 09/30/2012), of 181 to 365 days amounting to R$ 149 (R$ 170,177 at 09/30/2012) and over 365 days amounting to R$ 38.338,051 (R$ 14,571,634 at 09/30/2012).

Note 7 – Securities and derivative financial instruments (assets and liabilities)

See below the composition by Securities and Derivatives type, maturity and portfolio already adjusted to their respective market values.

a) Summary per maturity

	09/30/2013																																09/30/2012
				Provision for adjustment to market value reflected in:
	Cost			Results			Stockholders’ equity			Market value			%		0 - 30			31 - 90			91 - 180			181 -365			366 -720			Over 720 days			Market value
Government securities - domestic		122,621,802			(800,481	)		(1,602,070	)		120,219,251			44.2		614,156			8,054			7,901,874			24,419,998			32,067,478			55,207,691			101,716,979
Financial treasury bills		28,065,660			4,090			223			28,069,973			10.3		-			-			4,030,217			5,009,615			14,407,213			4,622,928			29,421,923
National treasury bills		31,754,507			(301,610	)		(114,535	)		31,338,362			11.5		609,015			-			1,563,182			13,707,595			11,924,363			3,534,207			22,065,082
National treasury notes		41,473,726			(524,359	)		(517,038	)		40,432,329			14.9		5,134			6,832			2,101,047			5,544,941			4,497,972			28,276,403			33,309,375
National treasury/securitization		283,391			(4	)		(3,838	)		279,549			0.1		7			1,222			90			1,721			2,804			273,705			319,402
Brazilian external debt bonds		21,044,518			21,402			(966,882	)		20,099,038			7.4		-			-			207,338			156,126			1,235,126			18,500,448			16,600,702
Other		-			-			-			-			0.0		-			-			-			-			-			-			495
Government securities - abroad		9,265,891			(628	)		(77,276	)		9,187,987			3.4		61,398			1,331,459			1,991,495			225,764			4,158,705			1,419,166			7,877,347
Argentina		96,625			(2,079	)		-			94,546			0.0		55			-			72,535			6			9,800			12,150			140,896
Denmark		2,979,908			-			-			2,979,908			1.1		-			832,425			1,125,747			-			1,021,736			-			1,721,478
Korea		2,455,010			-			-			2,455,010			0.9		-			-			-			-			2,455,010			-			1,672,080
Chile		937,487			(37	)		1,431			938,881			0.4		41,306			337,441			508,242			22,897			19,411			9,584			1,941,527
Paraguay		596,167			-			(51,072	)		545,095			0.2		10,474			141,628			104,487			73,807			101,694			113,005			287,305
Uruguay		471,707			(827	)		(20,023	)		450,857			0.2		9,563			14,149			87,890			111,698			152,390			75,167			360,526
United States		803,032			7,675			(6,787	)		803,920			0.3		-			-			92,592			17,356			333,935			360,037			827,819
Mexico		263,110			(4,075	)		-			259,035			0.1		-			-			2			-			-			259,033			618,430
Colombia		294,481			84			-			294,565			0.1		-			5,816			-			-			-			288,749			170,454
Belgium		186,135			(1,437	)		415			185,113			0.1		-			-			-			-			49,082			136,031			68,138
France		83,901			-			415			84,316			0.0		-			-			-			-			15,620			68,696			27,028
Netherlands		58,452			-			(356	)		58,096			0.0		-			-			-			-			-			58,096			-
Germany		31,091			-			(1,045	)		30,046			0.0		-			-			-			-			-			30,046			-
Other		8,785			68			(254	)		8,599			0.0		-			-			-			-			27			8,572			41,666
Corporate securities		50,751,273			8,527			300,473			51,060,273			18.7		5,500,646			1,065,477			1,821,349			6,807,305			10,145,598			25,719,898			44,060,481
Eurobonds and others		5,399,206			(12,473	)		103,477			5,490,210			2.0		81,059			86,438			71,427			304,995			1,229,108			3,717,183			6,987,398
Bank deposit certificates		1,800,231			-			(1,173	)		1,799,058			0.7		401,707			242,623			418,913			722,893			4,311			8,611			809,011
Shares		3,131,056			(11,095	)		17,997			3,137,958			1.2		3,137,958			-			-			-			-			-			3,185,439
Debentures		15,827,659			6,309			299,655			16,133,623			6.0		92,843			228,670			462,814			1,183,505			519,456			13,646,335			11,973,995
Promissory notes		1,192,351			-			(6,522	)		1,185,829			0.4		106,906			349,368			309,268			399,639			-			20,648			1,681,019
Rural product note		655,923			-			(18,503	)		637,420			0.2		95,791			32,510			78,162			103,504			36,749			290,704			797,143
Fund quotas		1,138,236			25,208			6,143			1,169,587			0.4		1,165,316			-			-			-			4,271			-			2,492,036
Fixed income		684,518			(5,754	)		(8	)		678,756			0.2		674,485			-			-			-			4,271			-			1,127,444
Credit rights		253,089			-			-			253,089			0.1		253,089			-			-			-			-			-			1,123,205
Variable income		200,629			30,962			6,151			237,742			0.1		237,742			-			-			-			-			-			241,387
Securitized real estate loans		8,917,896			576			(92,590	)		8,825,882			3.2		49,686			61,799			122,984			667,524			792,407			7,131,482			8,694,601
Financial bills		12,041,778			(3	)		(2,877	)		12,038,898			4.4		369,380			64,069			352,514			3,425,245			7,335,999			491,691			7,189,461
Other		646,937			5			(5,134	)		641,808			0.2		-			-			5,267			-			223,297			413,244			250,378
PGBL/VGBL fund quotas (1)		79,779,392			-			-			79,779,392			29.3		79,779,392			-			-			-			-			-			69,856,629
Subtotal - securities		262,418,358			(792,582	)		(1,378,873	)		260,246,903			95.6		85,955,592			2,404,990			11,714,718			31,453,067			46,371,781			82,346,755			223,511,436
Trading securities		173,532,047			(792,582	)		-			172,739,465			63.4		83,712,903			187,524			7,726,017			16,683,017			35,488,031			28,941,973			156,835,230
Available-for-sale securities		85,177,062			-			(1,378,873	)		83,798,189			30.9		2,190,581			2,217,466			3,988,701			14,770,050			10,823,913			49,807,478			63,512,801
Held-to-maturity securities (2)		3,709,249			-			-			3,709,249			1.3		52,108			-			-			-			59,837			3,597,304			3,163,405
Derivative financial instruments		9,928,381			1,921,851			12,750			11,862,982			4.4		2,311,542			1,855,240			1,442,600			1,531,028			2,137,638			2,584,934			11,044,954
Total securities and derivative financial instruments (assets)		272,346,739			1,129,269			(1,366,123	)		272,109,885			100.0		88,267,134			4,260,230			13,157,318			32,984,095			48,509,419			84,931,689			234,556,390
Derivative financial instruments (liabilities)		(7,716,578	)		(1,488,602	)		-			(9,205,180	)		100.0		(1,725,183	)		(687,579	)		(1,009,832	)		(1,617,556	)		(1,292,974	)		(2,872,056	)		(9,125,386	)

(1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a contra-entry to long-term liabilities in Pension Plan Technical Provisions account, as determined by SUSEP.

(2) Unrecorded positive adjustment to market value in the amount of R$ 742,646 (R$ 1,192,772at 09/30/2012), according to Note 7e.

b) Summary by portfolio

	09/30/2013
			Restricted to
	Own portfolio		Repurchase agreements		Pledged guarantees (*)		Free portfolio		Central Bank		Derivative financial instruments		Assets guaranteeing technical provisions (Note 11b)		Total
Government securities - domestic		54,996,915		41,130,968		5,632,720		12		12,983,586		-		5,475,050		120,219,251
Financial treasury bills		9,105,541		3,368,932		2,117,459		12		12,932,968		-		545,061		28,069,973
National treasury bills		19,373,336		8,612,917		3,301,491		-		50,618		-		-		31,338,362
National treasury notes		17,374,300		17,914,270		213,770		-		-		-		4,929,989		40,432,329
National treasury/securitization		279,549		-		-		-		-		-		-		279,549
Brazilian external debt bonds		8,864,189		11,234,849		-		-		-		-		-		20,099,038
Government securities - abroad		7,450,874		99,314		1,565,304		46,662		-		-		25,833		9,187,987
Argentina		14,160		69,619		10,767		-		-		-		-		94,546
Denmark		1,540,975		-		1,438,933		-		-		-		-		2,979,908
Korea		2,455,010		-		-		-		-		-		-		2,455,010
Chile		880,075		29,695		3,278		-		-		-		25,833		938,881
Paraguay		545,095		-		-		-		-		-		-		545,095
Uruguay		448,479		-		2,378		-		-		-		-		450,857
United States		693,972		-		109,948		-		-		-		-		803,920
Mexico		259,035		-		-		-		-		-		-		259,035
Colombia		247,903		-		-		46,662		-		-		-		294,565
Belgium		185,113		-		-		-		-		-		-		185,113
France		84,316		-		-		-		-		-		-		84,316
Netherlands		58,096		-		-		-		-		-		-		58,096
Germany		30,046		-		-		-		-		-		-		30,046
Other		8,599		-		-		-		-		-		-		8,599
Corporate securities		42,516,567		2,632,301		323,755		-		-		-		5,587,650		51,060,273
Eurobonds and other		3,123,510		2,366,700		-		-		-		-		-		5,490,210
Bank deposit certificates		1,449,348		265,601		1,287		-		-		-		82,822		1,799,058
Shares		3,132,184		-		5,774		-		-		-		-		3,137,958
Debentures		14,582,422		-		316,673		-		-		-		1,234,528		16,133,623
Promissory notes		1,185,829		-		-		-		-		-		-		1,185,829
Rural product note		637,420		-		-		-		-		-		-		637,420
Fund quotas		774,533		-		21		-		-		-		395,033		1,169,587
Fixed income		367,998		-		21		-		-		-		310,737		678,756
Credit rights		168,793		-		-		-		-		-		84,296		253,089
Variable income		237,742		-		-		-		-		-		-		237,742
Securitized real estate loans		8,820,275		-		-		-		-		-		5,607		8,825,882
Financial bills		8,169,238		-		-		-		-		-		3,869,660		12,038,898
Other		641,808		-		-		-		-		-		-		641,808
PGBL/VGBL fund quotas		-		-		-		-		-		-		79,779,392		79,779,392
Subtotal - securities		104,964,356		43,862,583		7,521,779		46,674		12,983,586		-		90,867,925		260,246,903
Trading securities		49,122,905		21,947,166		2,617,938		46,674		12,932,651		-		86,072,131		172,739,465
Available-for-sale securities		55,343,215		21,867,472		4,903,841		-		50,935		-		1,632,726		83,798,189
Held-to-maturity securities		498,236		47,945		-		-		-		-		3,163,068		3,709,249
Derivative financial instruments		-		-		-		-		-		11,862,982		-		11,862,982
Total securities and derivative financial instruments (assets)		104,964,356		43,862,583		7,521,779		46,674		12,983,586		11,862,982		90,867,925		272,109,885
Total securities and derivative financial instruments (assets) – 09/30/2012		83,379,003		40,145,774		6,673,054		88,986		12,591,352		11,044,954		80,633,267		234,556,390

(*) Represent securities deposited with Contingent Liabilities (Note 12b), Stock Exchanges and the Clearing House for the Custody and Financial Settlement of Securities.

c) Trading securities

See below the composition of the portfolio of trading securities by type, stated at cost and market value and by maturity term.

	09/30/2013																					09/30/2012
	Cost		Adjustment to market value (in results)			Market value		%		0 - 30		31 - 90		91 - 180		181 - 365		366 - 720		Over 720 days		Market value
Government securities - domestic		82,368,038		(800,481	)		81,567,557		47.4		614,136		7,883		7,380,752		16,078,486		31,877,051		25,609,249		75,867,459
Financial treasury bills		27,040,883		4,090			27,044,973		15.8		-		-		3,569,878		4,796,107		14,400,586		4,278,402		26,408,534
National treasury bills		23,586,791		(301,610	)		23,285,181		13.5		609,014		-		1,563,182		5,654,415		11,924,363		3,534,207		22,065,082
National treasury notes		29,455,997		(524,359	)		28,931,638		16.8		5,115		6,661		2,093,931		5,544,020		4,349,603		16,932,308		25,282,335
National treasury/securitization		9,326		(4	)		9,322		0.0		7		1,222		90		1,721		2,804		3,478		14,871
Brazilian external debt bonds		2,275,041		21,402			2,296,443		1.3		-		-		153,671		82,223		1,199,695		860,854		2,096,637
Government securities - abroad		1,117,718		(628	)		1,117,090		0.6		4,738		19,438		89,290		4,642		363,845		635,137		1,462,517
Argentina		96,623		(2,079	)		94,544		0.1		53		-		72,535		6		9,800		12,150		140,896
Chile		17,595		(37	)		17,558		0.0		-		-		11,461		-		-		6,097		136,326
Uruguay		49,172		(827	)		48,345		0.0		4,685		13,622		5,292		4,636		20,110		-		38,871
United States		326,260		7,675			333,935		0.2		-		-		-		-		333,935		-		316,324
Mexico		263,110		(4,075	)		259,035		0.1		-		-		2		-		-		259,033		618,430
Colombia		294,482		84			294,566		0.2		-		5,816		-		-		-		288,750		170,454
Belgium		67,921		(1,437	)		66,484		0.0		-		-		-		-		-		66,484		-
Other		2,555		68			2,623		-		-		-		-		-		-		2,623		41,216
Corporate securities		10,266,899		8,527			10,275,426		5.8		3,314,637		160,203		255,975		599,889		3,247,135		2,697,587		8,816,029
Eurobonds and other		1,422,051		(12,473	)		1,409,578		0.8		3,659		26,832		2,240		35,961		291,936		1,048,950		1,634,964
Bank deposit certificates		102,227		-			102,227		0.1		-		63,860		19,022		6,423		4,311		8,611		360,234
Shares		1,916,851		(11,095	)		1,905,756		1.1		1,905,756		-		-		-		-		-		1,088,351
Debentures		1,789,430		6,309			1,795,739		1.0		92,842		67,753		105,500		238,397		163,560		1,127,687		1,363,351
Promissory notes		20,648		-			20,648		0.0		-		-		-		-		-		20,648		305,214
Fund quotas		917,792		25,208			943,000		0.5		943,000		-		-		-		-		-		786,505
Fixed income		667,141		(5,754	)		661,387		0.4		661,387		-		-		-		-		-		266,869
Credit rights		84,356		-			84,356		0.0		84,356		-		-		-		-		-		315,597
Variable income		166,295		30,962			197,257		0.1		197,257		-		-		-		-		-		204,039
Securitized real estate loans		17,022		576			17,598		0.0		-		-		-		567		17,031		-		24,863
Financial bills		4,049,966		(3	)		4,049,963		2.3		369,380		1,758		129,213		318,541		2,739,380		491,691		3,252,547
Others		30,912		5			30,917		0.0		-		-		-		-		30,917		-		-
PGBL/VGBL fund quotas		79,779,392		-			79,779,392		46		79,779,392		-		-		-		-		-		70,689,225
Cotas de Fundos de PGBL / VGBL		173,532,047		(792,582	)		172,739,465		100.0		83,712,903		187,524		7,726,017		16,683,017		35,488,031		28,941,973		156,835,230
% per maturity term											48.4		0.1		4.5		9.7		20.5		16.8
Total – 09/30/2012		156,144,500		690,730			156,835,230		100.0		72,903,654		339,744		2,845,008		7,768,649		21,106,806		51,871,369
% per maturity term											46.5		0.2		1.8		5.0		13.5		33.0

At September 30, 2013, ITAÚ UNIBANCO HOLDING’s portfolio is composed of Corporate Securities – Bank deposit certificates amounting to R$ 11,358,780 with maturity over 720 days (R$ 6,485,581 of Corporate securities - Bank deposit certificates at 09/30/2012 of which R$ 23,455 with maturity of 31 to 180 days and R$ 6,462,126 with maturity over 720 days).

d) Available-for-sale securities

See below the composition of the portfolio of available-for-sale securities by type, stated at cost and market value and by maturity term.

	09/30/2013																					09/30/2012
	Cost		Adjustments to market value (in stockholders' equity)			Market value		%		0 - 30		31 - 90		91 - 180		181 - 365		366 - 720		Over 720 days		Market value
Government securities - domestic		36,618,379		(1,602,070	)		35,016,309		41.7		18		171		521,122		8,341,512		143,568		26,009,918		22,760,125
Financial treasury bills		1,024,777		223			1,025,000		1.2		-		-		460,339		213,508		6,627		344,526		3,013,389
National treasury bills		8,167,715		(114,535	)		8,053,180		9.6		-		-		-		8,053,180		-		-		-
National treasury notes		8,382,345		(517,038	)		7,865,307		9.4		18		171		7,116		921		101,510		7,755,571		5,057,555
National treasury/securitization		274,065		(3,838	)		270,227		0.3		-		-		-		-		-		270,227		304,531
Brazilian external debt bonds		18,769,477		(966,882	)		17,802,595		21.2		-		-		53,667		73,903		35,431		17,639,594		14,384,155
Other		-		-			-		0.0		-		-		-		-		-		-		495
Government securities - abroad		8,126,950		(77,276	)		8,049,674		9.7		56,660		1,312,021		1,902,205		221,122		3,781,882		775,784		6,395,283
Denmark		2,979,908		-			2,979,908		3.6		-		832,425		1,125,747		-		1,021,736		-		1,721,478
Korea		2,455,010		-			2,455,010		2.9		-		-		-		-		2,455,010		-		1,672,080
Chile		919,892		1,431			921,323		1.1		41,306		337,441		496,781		22,897		19,411		3,487		1,805,201
Paraguay		596,168		(51,072	)		545,096		0.7		10,475		141,628		104,487		73,807		101,694		113,005		287,305
Uruguay		401,323		(20,023	)		381,300		0.5		4,879		527		82,598		107,062		119,302		66,932		302,323
United States		476,772		(6,787	)		469,985		0.6		-		-		92,592		17,356		-		360,037		511,495
Belgium		118,214		415			118,629		0.1		-		-		-		-		49,082		69,547		68,138
France		83,901		415			84,316		0.1		-		-		-		-		15,620		68,696		27,028
Netherlands		58,452		(356	)		58,096		0.1		-		-		-		-		-		58,096		-
Germany		31,091		(1,045	)		30,046		0.0		-		-		-		-		-		30,046		-
Other		6,219		(254	)		5,965		0.0		-		-		-		-		27		5,938		235
Corporate securities		40,431,733		300,473			40,732,206		48.6		2,133,903		905,274		1,565,374		6,207,416		6,898,463		23,021,776		34,357,393
Eurobonds and other		3,924,514		103,477			4,027,991		4.9		25,293		59,606		69,187		269,034		937,172		2,667,699		5,300,959
Bank deposit certificate		1,698,005		(1,173	)		1,696,832		2.0		401,708		178,763		399,891		716,470		-		-		448,777
Shares		1,214,205		17,997			1,232,202		1.5		1,232,202		-		-		-		-		-		2,097,088
Debentures		14,038,228		299,655			14,337,883		17.1		-		160,917		357,314		945,108		355,896		12,518,648		10,610,272
Promissory notes		1,171,703		(6,522	)		1,165,181		1.4		106,906		349,368		309,268		399,639		-		-		1,375,805
Rural product note		655,924		(18,503	)		637,421		0.8		95,792		32,510		78,162		103,504		36,749		290,704		797,143
Fund quotas		220,444		6,143			226,587		0.2		222,316		-		-		-		4,271		-		872,935
Fixed income		17,377		(8	)		17,369		0.0		13,098		-		-		-		4,271		-		27,979
Credit rights		168,733		-			168,733		0.2		168,733		-		-		-		-		-		807,608
Variable income		34,334		6,151			40,485		0.0		40,485		-		-		-		-		-		37,348
Securitized real estate loans		8,900,874		(92,590	)		8,808,284		10.5		49,686		61,799		122,984		666,957		775,376		7,131,482		8,667,122
Financial nills		7,991,812		(2,877	)		7,988,935		9.5		-		62,311		223,301		3,106,704		4,596,619		-		3,936,914
Other		616,024		(5,134	)		610,890		0.7		-		-		5,267		-		192,380		413,243		250,378
Total		85,177,062		(1,378,873	)		83,798,189		100.0		2,190,581		2,217,466		3,988,701		14,770,050		10,823,913		49,807,478		63,512,801
Adjustments of securities reclassified in prior years to the held-to-maturity category				9,032							2.6		2.6		4.8		17.6		12.9		59.4
Deferred taxes				508,592
Minority interest in subsidiaries				2,223
Accounting adjustment - hedge - Circular No. 3,082				29,075
Others				14,500
Adjustment to market value – securities – 09/30/2013				(815,451	)
Total – 09/30/2012		61,081,416		2,431,385			63,512,801		100.0		4,565,108		1,962,358		5,696,073		5,190,248		6,472,215		39,626,799
Adjustments of securities reclassified in prior years to the held-to-maturity category				10,042							7.2		3.1		9.0		8.2		10.2		62.4
Accounting adjustment - hedge - Circular No. 3,082				(424,811	)
Deferred taxes				(827,295	)
Adjustments of securities of unconsolidated affiliates				399
Adjustment to market value – securities – 09/30/2012				1,189,720

e) Held-to-maturity securities

See below the composition of the portfolio of held-to-maturity securities by type, stated at cost and by maturity term. Included in the carrying value at Setember 30, 2013, not considered in results, are the amounts of R$ 9,032 (R$ 10,042 at 09/30/2012) relating to the market adjustment of the reclassified securities at December 31, 2003. Securities classified under this type, if stated at market value, would present a positive adjustment of R$ 742,646 (R$ 1,192,772 at 09/30/2012).

	09/30/2013																09/30/2012
	Carrying value		%		0 - 30		31 - 90		91 - 180		181 - 365		366 - 720		Over 720 days		Carrying value
Government securities - domestic		3,635,383		98.0		-		-		-		-		46,859		3,588,524		3,089,395
National treasury notes (*)		3,635,383		98.0		-		-		-		-		46,859		3,588,524		2,969,485
Brazilian external debt bonds		-		0.0		-		-		-		-		-		-		119,910
Government securities - abroad		21,224		0.6		-		-		-		-		12,978		8,246		19,547
Uruguay		21,213		0.6		-		-		-		-		12,978		8,235		19,332.00
Other		11		0.0		-		-		-		-		-		11		215
Corporate securities		52,642		1.4		52,108		-		-		-		-		534		54,463
Eurobonds and other		52,642		1.4		52,108		-		-		-		-		534		51,475
Debentures (*)		-		-		-		-		-		-		-		-		372
Securitized real estate loans (*)		-		-		-		-		-		-		-		-		2,616
Total		3,709,249		100.0		52,108		-		-		-		59,837		3,597,304		3,163,405
% per maturity term						1.4		-		0.0		0.0		1.6		97.0
Total – 09/30/2012		3,163,405		100.0		1,666		372		2,821		142,116		46,143		2,970,287
% per maturity term						0.0		0.0		0.1		4.5		1.5		93.9

(*) Includes investments of Itaú Vida e Previdência S.A. in the amount of R$ 2,225,135 (R$ 2,129,305 at 09/30/2012).

f) Reclassification of securities (article 5 of BACEN Circular No. 3,068, of 11/08/2001)

Management sets forth guidelines to classify securities. The classification of the current portfolio of securities, as well as the securities purchased in the period, is periodically and systematically evaluated based on such guidelines.

As set forth in Article 5 of BACEN Circular No. 3,068, of November 8, 2001, the revaluation regarding the classification of securities can only be made upon preparation of trial balances for six-month periods. In addition, the transfer from “held-to-maturity” to the other categories can only occur in view of an isolated, unusual, nonrecurring and unexpected event, which has occurred after the classification date.

No reclassifications or changes to the existing guidelines have been made in the period.

g) Derivative financial Instruments

The globalization of the markets in recent years has resulted in a high level of sophistication in the financial products used. As a result of this process, there has been an increasing demand for derivative financial instruments to manage market risks, mainly arising from fluctuations in interest and exchange rates, commodities and other asset prices. Accordingly, ITAU UNIBANCO HOLDING and its subsidiaries operate in the derivative markets for meeting the growing needs of their clients, as well as carrying out their risk management policy. Such policy is based on the use of derivative instruments to minimize the risks resulting from commercial and financial operations.

The derivative financial instruments’ business with clients is carried out after the approval of credit limits. The process of limit approval takes into consideration potential stress scenarios.

Knowing the client, the sector in which it operates and its risk appetite profile, in addition to providing information on the risks involved in the transaction and the negotiated conditions, ensures transparency in the relationship between the parties and the supply of a product that better meets the needs of the client.

The derivative transactions carried out by ITAÚ UNIBANCO HOLDING and its subsidiaries with clients are neutralized in order to eliminate market risks.

The derivative contracts traded by the institution with clients in Brazil are swap, forward, option and futures contracts, which are registered at the BM&FBOVESPA or at the CETIP S.A. OTC Clearing House (CETIP). Overseas transactions are carried out with futures, forwards (onshore), options and swaps with registration mainly in the Chicago, New York and London Exchanges. It should be emphasized that there are over-the-counter operations, but their risks are low as compared to the institutions’ total. Noteworthy is also the fact that there are no structured operations based on subprime assets and all operations are based on risk factors traded at stock exchanges.

The main risk factors of the derivatives, assumed at September 30, 2013, were related to the foreign exchange rate, interest rate, commodities, U.S. dollar coupon, Reference Rate coupon, Libor and variable income. The management of these and other market risk factors is supported by sophisticated statistical and deterministic models. Based on this management model, the institution, with the use of transactions involving derivatives, has been able to optimize the risk-return ratios, even under highly volatile situations.

Most derivatives included in the institution’s portfolio are traded at stock exchanges. The prices disclosed by stock exchanges are used for these derivatives, except in cases in which the low representativeness of price due to liquidity of a specific contract is identified. Derivatives typically precified like this are futures contracts. Likewise, there are other instruments whose quotations (fair prices) are directly disclosed by independent institutions and which are precified based on this direct information. A great part of the Brazilian government securities, highly-liquid international (public and private) securities and shares fit into this situation.

For derivatives whose prices are not directly disclosed by stock exchanges, fair prices are obtained by pricing models which use market information, deducted based on prices disclosed for higher liquidity assets. Interest and market volatility curves which provide entry data for the models are extracted from those prices. Over- the-counter derivatives, forward contracts and securities without much liquidity are in this situation.

The total value of margins pledged in guarantee was R$ 4,858,968 (R$ 3,416,789 at September 30, 2012) and was basically composed of government securities.

I - Derivatives by index

	Memorandum account Notional amount				Balance sheet account receivable / (received) (payable) paid			Adjustment to market value (in results / stockholders' equity)			Market value
	09/30/2013		09/30/2012		09/30/2013			09/30/2013			09/30/2013			09/30/2012
Futures contracts		351,331,473		430,314,716		224,835			33,354			258,189			(95,671	)
Purchase commitments		99,848,103		195,443,460		(336,876	)		83,215			(253,661	)		(15,715	)
Foreign currency		8,762,348		9,049,308		(87,242	)		83,823			(3,419	)		6,830
Interbank market		63,906,427		163,059,568		(27,796	)		(1,014	)		(28,810	)		(15,940	)
Indexes		20,143,266		19,035,959		(221,457	)		406			(221,051	)		(6,406	)
Securities		6,817,543		3,860,877		(156	)		-			(156	)		56
Commodities		214,072		433,258		(225	)		-			(225	)		(255	)
Other		4,447		4,490		-			-			-			-
Commitments to sell		251,483,370		234,871,256		561,711			(49,861	)		511,850			(79,956	)
Foreign currency		73,492,433		51,634,452		112,095			(47,835	)		64,260			(71,118	)
Interbank market		142,196,630		147,528,216		42,558			1,760			44,318			4,566
Fixed rates		79,834		-		-			(1,289	)		(1,289	)		-
Indexes		28,879,501		29,203,325		406,980			(2,409	)		404,571			(11,813	)
Securities		6,796,942		5,984,049		-			(88	)		(88	)		(128	)
Commodities		38,030		518,330		78			-			78			(1,463	)
Other		-		2,884		-			-			-			-
Swap contracts						(997,997	)		340,808			(657,189	)		(926,170	)
Asset position		162,589,965		123,300,649		2,245,840			1,774,157			4,019,997			3,497,304
Foreign currency		11,137,655		13,245,593		807,351			214,741			1,022,092			721,048
Interbank market		55,011,617		43,896,180		186,251			575,184			761,435			394,129
Fixed rates		54,197,010		33,772,668		392,054			639,254			1,031,308			720,637
Floating rate		2,024,063		4,060,415		46,214			35,937			82,151			13,962
Indexes		39,960,077		27,745,017		813,845			305,785			1,119,630			1,577,268
Securities		255,736		576,751		18			1,238			1,256			66,907
Commodities		3,176		3,980		61			174			235			43
Other		631		45		46			1,844			1,890			3,310
Liability position		163,587,962		123,696,153		(3,243,837	)		(1,433,349	)		(4,677,186	)		(4,423,474	)
Foreign currency		18,768,161		18,499,605		(1,123,356	)		(112,697	)		(1,236,053	)		(1,117,780	)
Interbank market		46,739,505		26,893,936		9,265			(498,515	)		(489,250	)		(91,572	)
Fixed rates		50,415,256		36,746,908		(634,947	)		(511,218	)		(1,146,165	)		(967,164	)
Floating rate		3,979,254		6,174,979		(54,746	)		(76,490	)		(131,236	)		(66,415	)
Indexes		43,384,342		34,788,265		(1,329,497	)		(261,826	)		(1,591,323	)		(2,100,682	)
Securities		136,490		510,580		(94,799	)		21,149			(73,650	)		(79,189	)
Commodities		14,665		52,776		(72	)		4			(68	)		(672	)
Other		150,289		29,104		(15,685	)		6,244			(9,441	)		-
Option contracts		994,969,349		1,402,563,048		1,078,385			(106,625	)		971,760			585,918
Purchase commitments - long position		153,656,502		376,144,694		1,184,388			(105,881	)		1,078,507			308,932
Foreign currency		24,124,300		18,257,149		837,475			(206,099	)		631,376			146,478
Interbank market		17,986,129		60,637,492		39,289			45,479			84,768			5,935
Floating rate		91,297		271,663		1,124			(1,120	)		4			37
Indexes		109,269,123		295,681,221		237,538			5,035			242,573			84,351
Securities		967,606		644,996		52,862			47,072			99,934			53,367
Commodities		1,149,169		577,074		15,670			854			16,524			14,886
Other		68,878		75,099		430			2,898			3,328			3,878
Commitments to sell - long position		367,193,261		373,375,184		1,571,452			(48,982	)		1,522,470			2,034,050
Foreign currency		15,452,557		8,365,688		247,066			57,367			304,433			104,022
Interbank market		20,239,378		43,647,368		27,490			(16,852	)		10,638			142,438
Floating rate		588,363		951,336		1,182			(574	)		608			1,211
Indexes		326,804,783		315,525,306		260,026			(181,285	)		78,741			730,089
Securities		3,672,596		3,208,066		1,025,220			87,931			1,113,151			1,035,134
Commodities		379,896		1,523,149		8,260			1,745			10,005			7,563
Other		55,688		154,271		2,208			2,686			4,894			13,593
Purchase commitments - short position		110,743,570		188,042,007		(1,076,499	)		(48,677	)		(1,125,176	)		(416,349	)
Foreign currency		20,955,046		8,827,921		(883,890	)		193,073			(690,817	)		(196,206	)
Interbank market		6,210,780		32,185,649		(22,341	)		(39,352	)		(61,693	)		(12,358	)
Indexes		82,656,632		146,217,473		(152,830	)		(172,506	)		(325,336	)		(135,397	)
Securities		718,236		581,395		(10,976	)		(27,284	)		(38,260	)		(56,352	)
Commodities		133,998		154,470		(6,032	)		290			(5,742	)		(12,158	)
Other		68,878		75,099		(430	)		(2,898	)		(3,328	)		(3,878	)
Commitments to sell - short position		363,376,016		465,001,163		(600,956	)		96,915			(504,041	)		(1,340,715	)
Foreign currency		11,465,182		6,655,222		(206,526	)		38,668			(167,858	)		(74,120	)
Interbank market		40,503,911		94,627,703		(76,361	)		53,409			(22,952	)		(209,515	)
Floating rate		-		-		-			(82	)		(82	)		149
Indexes		309,211,098		361,744,748		(172,785	)		58,833			(113,952	)		(795,491	)
Securities		1,808,792		1,632,838		(134,771	)		(48,527	)		(183,298	)		(240,309	)
Commodities		333,575		186,482		(8,305	)		(2,700	)		(11,005	)		(7,836	)
Other		53,458		154,170		(2,208	)		(2,686	)		(4,894	)		(13,593	)
Forward contracts		43,170,928		14,800,773		1,381,284			46,925			1,428,209			1,253,371
Purchases receivable		9,121,204		5,214,283		1,093,146			57,596			1,150,742			970,332
Foreign currency		8,348,026		4,483,203		365,235			57,681			422,916			262,516
Fixed rates		271,103		277,822		271,028			-			271,028			277,792
Floating rate		454,822		429,495		455,132			-			455,132			429,195
Securities		-		8		-			-			-			8
Commodities		47,253		23,710		1,751			(85	)		1,666			778
Other		-		45		-			-			-			43
Purchases payable		5,539,214		2,864,403		(930,757	)		3,002			(927,755	)		(746,705	)
Foreign currency		5,459,193		2,786,712		(198,155	)		2,537			(195,618	)		(34,139	)
Fixed rates		-		-		(271,028	)		-			(271,028	)		(277,792	)
Floating rate		-		-		(455,132	)		-			(455,132	)		(429,195	)
Securities		-		-		-			-			-			(8	)
Commodities		80,021		77,691		(6,442	)		465			(5,977	)		(5,571	)
Sales receivable		11,620,556		4,067,968		2,174,824			7,999			2,182,823			1,616,145
Foreign currency		6,762,091		2,420,794		327,958			9,207			337,165			22,319
Interbank market		2,950,451		8,558		1,054			416			1,470			8,488
Fixed rates		385,661		284,881		385,712			(882	)		384,830			284,533
Floating rate		321,626		260,059		321,632			-			321,632			259,961
Indexes		163		2,176		159			-			159			2,147
Securities		1,155,186		1,044,492		1,130,509			(140	)		1,130,369			1,035,123
Commodities		45,378		47,008		7,800			(602	)		7,198			3,574
Sales deliverable		16,889,954		2,654,119		(955,929	)		(21,672	)		(977,601	)		(586,401	)
Foreign currency		5,835,097		2,578,707		(297,278	)		(21,998	)		(319,276	)		(73,902	)
Interbank market		11,049,372		-		-			(2,595	)		(2,595	)		-
Fixed rates		-		-		(333,926	)		-			(333,926	)		(250,361	)
Floating rate		-		-		(321,632	)		-			(321,632	)		(259,961	)
Securities		-		-		-			-			-			(67	)
Commodities		5,485		75,412		(3,093	)		2,921			(172	)		(2,110	)

	Memorandum account / Notional amount				Balance sheet account receivable / (received) (payable) / paid			Adjustments to market value (in results / stockholders' equity)			Market value
	09/30/2013		09/30/2012		09/30/2013			09/30/2013			09/30/2013			09/30/2012
Credit derivatives		15,713,517		5,964,119		101,570			7,605			109,175			522,755
Asset position		8,040,315		2,060,742		338,349			37,589			375,938			606,803
Fixed rate		7,374,833		1,215,923		338,003			29,203			367,206			601,318
Securities		478,639		621,404		213			5,722			5,935			3,397
Other		186,843		223,415		133			2,664			2,797			2,088
Liability position		7,673,202		3,903,377		(236,779	)		(29,984	)		(266,763	)		(84,048	)
Fixed rate		6,417,940		3,512,938		(237,106	)		13,229			(223,877	)		(71,191	)
Securities		1,242,194		306,186		324			(42,746	)		(42,422	)		(12,171	)
Other		13,068		84,253		3			(467	)		(464	)		(686	)
Forwards operations		40,591,382		35,958,421		104,247			46,842			151,089			51,647
Asset position		21,435,785		18,693,858		361,504			38,221			399,725			388,395
Foreign currency		21,254,986		18,269,420		356,038			38,221			394,259			379,789
Interbank market		15,893		-		194			-			194			-
Floating rate		-		407,136		-			-			-			7,587
Indexes		161,305		17,302		5,093			-			5,093			1,019
Securities		3,601		-		179			-			179			-
Liability position		19,155,597		17,264,563		(257,257	)		8,621			(248,636	)		(336,748	)
Foreign currency		19,150,261		17,249,108		(257,244	)		8,621			(248,623	)		(336,274	)
Interbank market		-		13,985		-			-			-			(472	)
Indexes		5,336		1,470		(13	)		-			(13	)		(2	)
Swap with target flow		1,598,736		1,084,705		(69,416	)		(38,438	)		(107,854	)		(33,101	)
Asset position		764,660		541,791		-			-			-			-
Interbank market		764,660		530,730		-			-			-			-
Fixed rate		-		11,061		-			-			-			-
Liability position		834,076		542,914		(69,416	)		(38,438	)		(107,854	)		(33,101	)
Foreign currency		767,877		465,652		(69,076	)		(37,460	)		(106,536	)		(31,016	)
Interbank market		66,199		66,192		(340	)		(978	)		(1,318	)		(1,937	)
Target flow of swap - asset position - foreign currency		843,325		549,661		-			71,467			71,467			38,012
Other derivative financial instruments		7,068,672		7,194,755		388,895			44,061			432,956			522,807
Asset position		5,971,305		5,912,247		734,043			69,081			803,124			1,584,981
Foreign currency		608,225		709,889		28,821			6,404			35,225			219,434
Fixed rate		1,463,604		1,622,896		390,310			21,372			411,682			812,898
Securities		3,864,331		3,212,798		314,944			40,388			355,332			298,157
Other		35,145		82,939		(32	)		917			885			585
Liability position		1,097,367		1,282,508		(345,148	)		(25,020	)		(370,168	)		(1,062,174	)
Foreign currency		404,506		319,013		(6,856	)		(17,012	)		(23,868	)		(109,282	)
Fixed rate		-		-		(312,074	)		(1,302	)		(313,376	)		(610,967	)
Securities		528,095		738,069		(26,133	)		(4,969	)		(31,102	)		(52,959	)
Other		164,766		225,426		(85	)		(1,737	)		(1,822	)		(2,152	)
				Asset		9,928,381			1,934,601			11,862,982			11,044,954
				Liabilities		(7,716,578	)		(1,488,602	)		(9,205,180	)		(9,125,386	)
				Total		2,211,803			445,999			2,657,802			1,919,568

Derivative contracts mature as follows (in days):
Memorandum account/notional amount	0 - 30		31 - 180		181 - 365		Over 365		09/30/2013		09/30/2012
Futures		47,077,927		132,049,343		53,106,470		119,097,733		351,331,473		430,314,716
Swaps		4,462,023		22,064,110		23,648,021		110,169,971		160,344,125		121,207,347
Options		71,338,392		877,085,556		31,544,462		15,000,939		994,969,349		1,402,563,048
Forwards (onshore)		10,187,055		22,922,855		5,867,354		4,193,664		43,170,928		14,800,773
Credit derivatives		244,185		1,346,436		546,187		13,576,709		15,713,517		5,964,119
Forwards (offshore)		12,780,549		18,488,965		7,229,519		2,092,349		40,591,382		35,958,421
Swaps with target flow		-		14,325		-		750,335		764,660		541,791
Target flow of swap		-		17,840		-		825,485		843,325		549,661
Other derivative financial instruments		9,363		573,782		1,638,009		4,847,518		7,068,672		7,194,755

II - Derivatives by counterparty

See below the composition of the Derivative Financial Instruments portfolio (assets and liabilities) by type of instrument, stated at cost, market value, and maturity term.

	09/30/2013																					09/30/2012
	Cost		Adjustments to market value (in results / stockholders' equity)			Market value		%		0 - 30		31 - 90		91 - 180		181 - 365		366 - 720		Over 720 days		Market value
Asset
Futures - BM&F Bovespa		224,835		33,354			258,189		2		101,108		78,570		13,664		31,180		-		33,667		-
Swaps - adjustment receivable		2,245,840		1,774,157			4,019,997		33.8		93,672		303,987		587,636		303,479		837,803		1,893,420		3,497,304
BM&F Bovespa		276,638		90,647			367,285		3.1		2,140		5,108		47,090		74,966		43,519		194,462		450,811
Financial institutions		260,676		349,423			610,099		5.1		65,621		13,842		97,029		13,588		159,666		260,353		431,729
Companies		1,675,749		1,089,597			2,765,346		23.3		24,763		279,336		438,626		204,346		448,619		1,369,656		2,572,774
Individuals		32,777		244,490			277,267		2.3		1,148		5,701		4,891		10,579		185,999		68,949		41,990
Option premiums		2,755,840		(154,863	)		2,600,977		21.9		229,833		293,207		423,333		492,060		1,057,704		104,840		2,342,982
BM&FBOVESPA		2,185,940		(320,547	)		1,865,393		15.7		129,332		192,162		318,696		291,356		933,547		300		978,555
Financial institutions		347,169		124,539			471,708		4.0		94,934		86,910		64,861		138,313		63,501		23,189		242,802
Companies		222,634		41,228			263,862		2.2		5,567		14,135		39,762		62,391		60,656		81,351		1,121,625
Individuals		97		(83	)		14		0.0		-		-		14		-		-		-		-
Forwards (onshore)		3,267,970		65,595			3,333,565		28.1		1,810,672		725,460		319,901		274,080		108,019		95,433		2,586,477
BM&FBOVESPA		1,183,904		(603	)		1,183,301		10.0		314,077		602,178		150,888		116,007		151		-		1,046,063
Financial institutions		1,683,451		7,494			1,690,945		14.2		1,395,416		23,857		113,634		62,726		56,897		38,415		298,245
Companies		399,287		58,297			457,584		3.9		101,179		99,425		54,745		95,347		49,870		57,018		1,241,187
Individuals		1,328		407			1,735		0.0		-		-		634		-		1,101		-		982
Credit derivatives		338,349		37,589			375,938		3.2		-		366,030		60		721		2,065		7,062		606,803
Financial institutions		338,349		37,589			375,938		3.2		-		366,030		60		721		2,065		7,062		606,711
Companies		-		-			-		0.0		-		-		-		-		-		-		92
Forwards (offshore)		361,504		38,221			399,725		3.4		76,231		86,069		92,327		104,178		27,227		13,693		388,395
Financial institutions		206,714		3,631			210,345		1.8		47,752		39,066		57,103		64,056		1,858		510		217,470
Companies		145,726		32,945			178,671		1.5		27,768		41,401		34,491		36,462		25,366		13,183		170,670
Individuals		9,064		1,645			10,709		0.1		711		5,602		733		3,660		3		-		255
Target flow of swap - companies		-		71,467			71,467		0.6		-		-		170		-		4,137		67,160		38,012
Other derivative financial instruments		734,043		69,081			803,124		6.8		26		1,917		5,509		325,330		100,683		369,659		1,584,981
BM&FBOVESPA		-		-			-		0.0		-		-		-		-		-		-		83,198
Financial institutions		508,431		35,781			544,212		4.6		-		1,768		183		298,116		36,740		207,405		779,460
Companies		225,612		33,300			258,912		2.2		26		149		5,326		27,214		63,943		162,254		722,323
Total		9,928,381		1,934,601			11,862,982		100.0		2,311,542		1,855,240		1,442,600		1,531,028		2,137,638		2,584,934		11,044,954
% per maturity term											19.5		15.6		12.2		12.9		18.0		21.8
Total at 09/30/2012		9,252,503		1,792,451			11,044,954		100.0		1,063,938		1,791,957		2,304,428		1,129,476		923,419		3,831,736
% per maturity term											9.6		16.2		20.9		10.2		8.4		34.7

	09/30/2013																													09/30/2012
	Cost			Adjustments to market value (in results / stockholders' equity)			Market value			%		0 - 30			31 - 90			91 - 180			181 -365			366 - 720			Over 720 days			Market value
Liabilities
Futures		-			-			-			-		-			-			-			-			-			-			(95,671	)
BM&FBovespa		-			-			-			-		-			-			-			-			-			-			(95,577	)
Financial institutions		-			-			-			-		-			-			-			-			-			-			(65	)
Companies		-			-			-			-		-			-			-			-			-			-			(29	)
Swaps - difference payable		(3,243,837	)		(1,433,349	)		(4,677,186	)		50.8		(56,271	)		(193,328	)		(373,911	)		(660,357	)		(917,856	)		(2,475,463	)		(4,423,474	)
BM&FBovespa		(395,765	)		(138,809	)		(534,574	)		5.8		(11,529	)		(1,283	)		(81,043	)		(62,554	)		(163,397	)		(214,768	)		(734,128	)
Financial institutions		(417,678	)		(254,488	)		(672,166	)		7.3		(19,531	)		(13,924	)		(20,221	)		(38,451	)		(184,458	)		(395,581	)		(1,134,695	)
Companies		(2,100,177	)		(902,777	)		(3,002,954	)		32.6		(23,761	)		(172,503	)		(271,569	)		(558,709	)		(444,049	)		(1,532,363	)		(2,507,244	)
Individuals		(330,217	)		(137,275	)		(467,492	)		5.1		(1,450	)		(5,618	)		(1,078	)		(643	)		(125,952	)		(332,751	)		(47,407	)
Option premiums		(1,677,455	)		48,238			(1,629,217	)		17.7		(134,875	)		(230,069	)		(451,099	)		(484,761	)		(216,042	)		(112,371	)		(1,757,064	)
BM&FBovespa		(1,067,470	)		118,986			(948,484	)		10.3		(83,964	)		(153,023	)		(344,732	)		(305,493	)		(61,272	)		-			(1,161,257	)
Financial institutions		(553,054	)		(1,343	)		(554,397	)		6.0		(48,752	)		(70,812	)		(89,675	)		(139,670	)		(116,128	)		(89,360	)		(456,335	)
Companies		(56,630	)		(69,600	)		(126,230	)		1.4		(2,159	)		(6,223	)		(16,597	)		(39,598	)		(38,642	)		(23,011	)		(139,472	)
Individuals		(301	)		195			(106	)		-		-			(11	)		(95	)		-			-			-			-
Forwards (onshore)		(1,886,686	)		(18,670	)		(1,905,356	)		20.7		(1,448,252	)		(92,119	)		(127,051	)		(111,302	)		(83,573	)		(43,059	)		(1,333,106	)
BM&FBovespa		-			(2,595	)		(2,595	)		-		(898	)		-			(1,237	)		(460	)		-			-			-
Financial institutions		(1,567,599	)		2,358			(1,565,241	)		17.0		(1,404,706	)		(28,911	)		(51,952	)		(55,781	)		(23,891	)		-			(261,675	)
Companies		(319,087	)		(18,433	)		(337,520	)		3.7		(42,648	)		(63,208	)		(73,862	)		(55,061	)		(59,682	)		(43,059	)		(1,071,431	)
Credit derivatives		(236,779	)		(29,984	)		(266,763	)		2.9		-			(123,085	)		(6,662	)		(1,928	)		(30,928	)		(104,160	)		(84,048	)
Financial institutions		(231,767	)		(29,189	)		(260,956	)		2.8		-			(123,085	)		(6,662	)		(1,928	)		(30,928	)		(98,353	)		(83,983	)
Companies		(5,012	)		(795	)		(5,807	)		0.1		-			-			-			-			-			(5,807	)		(65	)
Forwards (offshore)		(257,257	)		8,621			(248,636	)		2.7		(85,677	)		(47,784	)		(48,433	)		(30,749	)		(20,598	)		(15,395	)		(336,748	)
Financial institutions		(144,362	)		246			(144,116	)		1.6		(72,239	)		(32,657	)		(28,045	)		(9,769	)		(1,406	)		-			(252,698	)
Companies		(112,468	)		8,406			(104,062	)		1.1		(13,432	)		(14,701	)		(20,387	)		(20,955	)		(19,192	)		(15,395	)		(83,841	)
Individuals		(427	)		(31	)		(458	)		-		(6	)		(426	)		(1	)		(25	)		-			-			(209	)
Swaps with target flow - companies		(69,416	)		(38,438	)		(107,854	)		1.2		-			-			(99	)		-			(8,934	)		(98,821	)		(33,101	)
Other derivative financial instruments		(345,148	)		(25,020	)		(370,168	)		4.0		(108	)		(1,194	)		(2,577	)		(328,459	)		(15,043	)		(22,787	)		(1,062,174	)
Financial institutions		(316,424	)		(4,144	)		(320,568	)		3.5		-			-			-			(313,376	)		(5,974	)		(1,218	)		(685,855	)
Companies		(28,724	)		(20,876	)		(49,600	)		0.5		(108	)		(1,194	)		(2,577	)		(15,083	)		(9,069	)		(21,569	)		(376,319	)
Total		(7,716,578	)		(1,488,602	)		(9,205,180	)		100.0		(1,725,183	)		(687,579	)		(1,009,832	)		(1,617,556	)		(1,292,974	)		(2,872,056	)		(9,125,386	)
% per maturity term													18.7			7.5			11.0			17.6			14.0			31.2
Total at 09/30/2012		(6,970,890	)		(2,154,496	)		(9,125,386	)		100.0		(564,463	)		(764,552	)		(2,215,991	)		(1,491,692	)		(1,046,744	)		(3,041,944	)
% per maturity term													6.2			8.4			24.3			16.3			11.5			33.3

III - Derivatives by notional amount

See below the composition of the Derivative Financial Instruments portfolio by type of instrument, stated at their notional amounts, per trading location (organized or over-the-counter market) and counterparties.

	09/30/2013
	Futures		Swaps		Options		Forwards (onshore)		Credit derivatives		Forwards (offshore)		Swap with target flow		Target flow of swap		Other derivative financial instruments
BM&FBOVESPA		261,961,562		6,616,700		944,418,917		15,207,358		-		-		-		-		-
Overt-the-counter market		89,369,911		153,727,425		50,550,432		27,963,570		15,713,517		40,591,382		764,660		843,325		7,068,672
Financial institutions		57,439,436		43,881,695		40,997,259		11,729,861		15,602,017		33,042,607		-		-		3,741,678
Companies		31,930,475		70,856,947		9,495,688		16,221,186		111,500		7,385,608		764,660		843,325		3,326,994
Individuals		-		38,988,783		57,485		12,523		-		163,167		-		-		-
Total		351,331,473		160,344,125		994,969,349		43,170,928		15,713,517		40,591,382		764,660		843,325		7,068,672
Total – 09/30/2012		430,314,716		121,207,347		1,402,563,048		14,800,773		5,964,119		35,958,421		541,791		549,661		7,194,755

IV - Credit derivatives

See below the composition of the Credit Derivatives (assets and liabilities) portfolio stated at notional amount, and their effect on calculation of Required Referential Equity.

	09/30/2013								09/30/2012
	Notional amount of credit protection sold			Notional amount of credit protection purchased with identical underlying amount		Net position			Notional amount of credit protection sold			Notional amount of credit protection purchased with identical underlying amount		Net position
Credit swaps		(8,280,167	)		6,030,834		(2,249,333	)		(3,993,837	)		906,997		(3,086,840	)
Total return rate swaps		(1,402,516	)		-		(1,402,516	)		(1,063,285	)		-		(1,063,285	)
Total (*)		(9,682,683	)		6,030,834		(3,651,849	)		(5,057,122	)		906,997		(4,150,125	)

(*) In the period we aligned the procedures for disclosing credit derivative information in order to state the position in the same disclosure standard as that of the risk management (BACEN Circular No. 3,477, of December 28, 2009).

The effect on the referential equity (Note 3) was R$ 199,537 (R$ 98,235 at 09/30/2012).

During the period, there was no occurrence of a credit event as defined in the agreements.

V - Accounting hedge

The effectiveness computed for hedge portfolio was in conformity with the provisions of BACEN Circular No. 3,082 of January 30, 2002.

a) Cash flow - the purpose of the hedge relationship of ITAÚ UNIBANCO HOLDING is to protect the cash flows of payment of debt interest (CDB / Redeemable preferred shares) related to its variable interest rate risk (CDI / LIBOR), making the cash flow constant (fixed rate) and regardless of the variations of DI Cetip Over and LIBOR.

	09/30/2013						09/30/2012
	Hedge Instrument				Hedge assets		Hedge Instruments					Hedge assets
Strategies	Nominal value		Adjustment to market value (*)		Book value		Nominal value		Adjustment to market value (*)			Book value
Hedge of deposits and securities purchased under agreements to resell		55,890,665		9,795		56,760,825		47,850,456		(241,075	)		46,094,837
Hedge of preferred shares		876,551		8,415		876,551		798,172		(21,028	)		798,172
Hedge of subordinated CDB		158,304		-		136,495		147,593		-			126,629
Total		56,925,520		18,210		57,773,871		48,796,221		(262,103	)		47,019,638

(*) Market Value net of tax effects recorded in stockholders’ equity

The gains or losses related to the accounting hedge of cash flows that we expect to recognize in Results in the following 12 months amount to R$ (81,455) (R$ (485,579) at September 30, 2012).

To protect the future cash flows of debt against exposure to variable interest rate (CDI), ITAÚ UNIBANCO HOLDING negotiated DI Futures agreements at BM&FBOVESPA with maturity between 2013 and 2018.

To protect the future cash flows of debt against exposure to variable interest rate (LIBOR), ITAÚ UNIBANCO HOLDING negotiated swap contracts with maturity in 2015.

b) Market risk – The hedging strategy against market risk of ITAÚ UNIBANCO HOLDING consists in hedging the exposure to variation in market risk, receipt of interest, which are attributable to changes in interest rates related to recognized assets.

	09/30/2013
	Hedge instrument					Hedge assets
Strategies	Nominal value		Adjustment to market value (*)			Nominal value		Adjustment to market value (*)
Hedge of loans		1,553,930		(8,511	)		1,553,930		8,638
Total		1,553,930		(8,511	)		1,553,930		8,638

	09/30/2012
	Hedge instrument					Hedge assets
Strategies	Nominal value		Adjustment to market value (*)			Nominal value		Adjustment to market value (*)
Hedge of loans		477,305		(2,814	)		477,305		(2,783	)
Total		477,305		(2,814	)		477,305		(2,783	)

(*) Market value net of tax effects recorded in stockholders’ equity

To hedge the variation in market risk in the receipt of interest, ITAÚ UNIBANCO HOLDING uses interest rate swap contracts Hedge assets are related to fixed-rate assets expressed in unidad de fomento (CLF) and expressed in euros, issued by subsidiaries in Chile and London, respectively and with maturities between 2016 and 2028.

Receipts (payments) of interest flows are expected to occur and will affect the statement of income in monthly periods.

c) We present below the maturity terms of cash flow hedge and market risk hedge strategies:

09/30/2013											09/30/2012
Maturity term	Hedge of deposits and securities purchased under agreements to resell		Hedge of preferred shares		Hedge of subordinated CDB		Hedge of loans		Total		Total
2012		-		-		-		-		-		10,510,537
2013		26,196,317		-		-		-		26,196,317		30,013,509
2014		20,568,380		-		158,304		-		20,726,684		6,586,584
2015		5,728,988		876,551		-		-		6,605,539		798,172
2016		539,519		-		-		241,473		780,992		-
2017		2,455,517		-		-		120,737		2,576,254		887,419
2018		401,944		-		-		150,921		552,865		-
2020		-		-		-		43,367		43,367		-
2022		-		-		-		201,524		201,524		-
2023		-		-		-		190,122		190,122		-
2025		-		-		-		46,483		46,483		-
2027		-		-		-		164,779		164,779		477,305
2028		-		-		-		394,524		394,524		-
Total		55,890,665		876,551		158,304		1,553,930		58,479,450		49,273,526

d) Related operations - the swap operations contracted in a negotiation associated with the funding and/or investment in the amount of R$ 2,911 (R$ 35,239 at September 30, 2012) are recorded at amounts restated in accordance with variations occurred in respective ratios (curve) and are not valued at their market value, as permitted by BACEN Circular No. 3,150, of September 11, 2002.

h) Changes in adjustment to unrealized ^(*) market value for the period

	01/01 to 09/30/2013			01/01 to 09/30/2012
Opening balance		2,406,079			(160,343	)
Adjustments with impact on:
Results		(268,713	)		930,095
Trading securities		(1,167,513	)		664,032
Derivative financial instruments		898,800			266,063
Stockholders’ equity		(3,846,497	)		1,565,505
Available-for-sale		(4,162,015	)		1,712,787
Accounting hedge – derivative financial instruments		315,518			(147,282	)
Futures		293,005			(145,559	)
Swap		22,513			(1,723	)
Closing balance		(1,709,131	)		2,335,257
Adjustment to market value		(1,709,131	)		2,335,257
Trading securities		(792,582	)		690,730
Available-for-sale securities		(1,378,873	)		2,431,386
Derivative financial instruments		462,324			(786,859	)
Trading securities		433,249			(362,048	)
Accounting hedge		29,075			(424,811	)
Futures		16,325			(392,950	)
Swap		12,750			(31,861	)

(*) The term unrealized in the context of Circular nº. 3.068 of 11/08/2001, of Central Bank means not converted into cash.

i) Realized gain of securities portfolio and derivatives financial instruments

	01/01 to 09/30/2013			01/01 to 09/30/2012
Gain (loss) – trading securities		(897,086	)		1,324,846
Gain (loss) – available-for-sale securities		(262,747	)		879,625
Gain (loss) – derivatives		(4,802,363	)		(2,611,399	)
Gain (loss) – foreign exchange variation on investments abroad		2,031,684			1,519,278
Total		(3,930,512	)		1,112,350

j) Sensitivity analysis (trading and banking portfolios)

In compliance with CVM Instruction No. 475 of December 17, 2008, ITAÚ UNIBANCO HOLDING carried out a sensitivity analysis by market risk factors considered relevant to which it was exposed. The biggest losses arising, by risk factor, in each scenario, were stated with impact on result, net of tax effects, by providing a vision of the ITAÚ UNIBANCO HOLDING exposure under exceptional scenarios.

Measurement of market risk segregates operations in trading portfolio and banking portfolio, pursuant to the criteria set forth in the Capital Accord and subsequent amendments.

The sensitivity analyses of non-trading and trading portfolio shown in this report are an evaluation of an instant position of the portfolio exposure and, therefore, do not consider the management’s quick response capacity (treasury and control areas), which triggers risk mitigating measures, whenever a situation of high loss or risk is identified by minimizing the sensitivity towards significant losses. In addition, we point out that the presented results do not necessarily translate into accounting results, because the study's sole purpose is to disclose the exposure to risks and the respective protective actions, taking into account the fair value of financial instruments, irrespective of the accounting practices adopted by the ITAÚ UNIBANCO HOLDING.

Trading portfolio	Exposures	09/30/2013 (*)
		Scenarios
Risk factors	Risk of variation in:	I			II			III
Fixed rate	Fixed rates in reais		(847	)		(21,159	)		(42,278	)
Foreign exchange	Rates of foreign currency coupon		604			(15,226	)		(30,695	)
Foreign currency	Exchange variation		3,079			(76,976	)		(153,953	)
Price indices	Rates of price index coupon		(582	)		(14,458	)		(28,751	)
Reference rate	Rate of TR coupon		77			(1,951	)		(3,934	)
Shares	Share price		5,269			(131,735	)		(263,469	)
	Total without correlation		7,601			(261,504	)		(523,080	)
	Total with correlation		6,374			(219,271	)		(438,601	)

(*) Amounts net of tax effects.

Trading and Banking portfolios	Exposures	09/30/2012 (*)
		Scenarios
Risk factors	Risk of variation in:	I			II			III
Fixed rate	Fixed rates in reais		(3,392	)		(84,628	)		(168,886	)
Foreign exchange	Rates of foreign currency coupon		377			(9,398	)		(18,740	)
Foreign currency	Exchange variation		1,120			(27,995	)		(55,989	)
Price indices	Rates of price index coupon		(3,407	)		(83,677	)		(164,335	)
Reference rate	Rate of TR coupon		(2,070	)		(50,992	)		(100,421	)
Shares	Share price		5,677			(141,921	)		(283,842	)
	Total without correlation		(1,696	)		(398,611	)		(792,212	)
	Total with correlation		(1,422	)		(334,235	)		(664,269	)

(*) Amounts net of tax effects.

The following scenarios are used to measure the sensitivity:

· Scenario I: Addition of 1 base point in interest rates and associated indexes, and 1 percentage point in currency and share prices, which is based on market information (BM&FBOVESPA, Andima, etc);

· Scenario II: Shocks at 25 base points in interest rates and associated indexes, and 25 percentage points in currency and share prices, both for growth and fall, considering the largest resulting losses per risk factor;

· Scenario III: Shocks at 50 base points in interest rates and associated indexes, and 50 percentage points in currency and share prices, both for growth and fall, considering the largest resulting losses per risk factor.

Derivative financial instruments engaged by ITAÚ UNIBANCO HOLDING are shown in the item Derivative financial instruments in this note.

Note 8 - Loan, lease and other credit operations

a) Composition of the portfolio with credit granting characteristics

I – By type of operations and risk level

	09/30/2013																				09/30/2012
Risk levels	AA		A		B		C		D		E		F		G		H		Total		Total
Loan operations		170,100,940		73,082,227		34,736,569		16,209,138		7,818,465		2,953,272		2,286,521		3,005,856		10,127,876		320,320,864		294,643,034
Loans and discounted trade receivables		54,969,675		55,129,608		25,505,909		10,776,689		6,446,763		2,210,842		1,799,963		2,527,834		7,711,390		167,078,673		158,501,420
Financing		78,642,611		10,536,569		8,120,500		4,982,570		1,238,648		638,199		460,536		446,615		2,323,000		107,389,248		101,100,038
Farming and agribusiness financing		5,735,330		862,747		556,018		141,047		47,251		54,230		243		2,550		41,712		7,441,128		5,794,965
Real estate financing		30,753,324		6,553,303		554,142		308,832		85,803		50,001		25,779		28,857		51,774		38,411,815		29,246,611
Lease operations		6,513,450		1,179,270		1,653,995		720,160		437,992		177,823		131,059		129,660		658,987		11,602,396		19,134,295
Credit card operations		-		38,080,214		2,340,733		1,146,077		613,910		410,212		396,568		379,463		2,359,008		45,726,185		38,471,584
Advance on exchange contracts (1)		3,524,005		521,376		521,576		259,826		8,122		4,908		-		1,797		5,439		4,847,049		5,520,329
Other sundry receivables (2)		33,109		4,257,572		3,261		146,974		1,818		1,182		1,308		31,497		66,399		4,543,120		2,041,050
Total operations with credit granting characteristics		180,171,504		117,120,659		39,256,134		18,482,175		8,880,307		3,547,397		2,815,456		3,548,273		13,217,709		387,039,614		359,810,292
Endorsements and sureties (3)																				69,521,632		57,792,446
Total with endorsements and sureties		180,171,504		117,120,659		39,256,134		18,482,175		8,880,307		3,547,397		2,815,456		3,548,273		13,217,709		456,561,246		417,602,738
Total – 09/30/2012		123,572,187		139,518,196		39,062,662		20,747,937		11,862,494		4,073,336		3,229,304		2,845,738		14,898,438		359,810,292

(1) Includes Advances on Exchange Contracts and Income Receivable from Advances Granted, reclassified from Liabilities – Foreign Exchange Portfolio/Other Receivables (Note 2a);

(2) Includes Securities and Credits Receivable, Debtors for Purchase of Assets and Endorsements and Sureties paid;

(3) Recorded in Memorandum Accounts.

II – By maturity and risk level

	09/30/2013																													09/30/2012
	AA		A			B			C			D			E			F			G			H			Total			Total
	Overdue Operations (1) (2)
Falling due installments		-		-			2,401,394			2,609,717			1,744,222			1,230,544			1,074,798			1,158,202			5,113,400			15,332,277			20,004,772
01 to 30		-		-			126,088			141,079			83,899			52,793			44,953			53,942			282,111			784,865			1,254,560
31 to 60		-		-			93,227			103,923			70,582			44,291			35,180			47,241			197,600			592,044			731,525
61 to 90		-		-			93,539			104,672			70,536			43,798			35,857			47,106			199,340			594,848			750,761
91 to 180		-		-			265,158			309,867			196,459			131,893			109,247			139,553			601,390			1,753,567			2,157,231
181 to 365		-		-			470,632			558,993			351,192			238,806			201,351			247,539			1,057,440			3,125,953			3,889,673
Over 365		-		-			1,352,750			1,391,183			971,554			718,963			648,210			622,821			2,775,519			8,481,000			11,221,022
Overdue installments		-		-			738,534			738,582			761,541			721,017			724,844			1,043,861			5,774,585			10,502,964			11,886,628
01 to 14		-		-			11,014			75,848			45,096			24,544			19,579			25,523			106,517			308,121			405,904
15 to 30		-		-			709,669			99,542			78,857			43,284			28,684			33,826			191,656			1,185,518			1,153,366
31 to 60		-		-			17,851			545,045			154,961			106,619			82,806			106,489			270,145			1,283,916			1,560,370
61 to 90		-		-			-			12,040			457,278			120,800			115,952			129,023			300,543			1,135,636			1,295,483
91 to 180		-		-			-			6,107			25,349			413,991			455,051			720,936			1,108,648			2,730,082			3,100,907
181 to 365		-		-			-			-			-			11,779			22,772			28,064			3,643,761			3,706,376			4,246,563
Over 365		-		-			-			-			-			-			-			-			153,315			153,315			124,035
Subtotal		-		-			3,139,928			3,348,299			2,505,763			1,951,561			1,799,642			2,202,063			10,887,985			25,835,241			31,891,400
Specific allowance		-		-			(31,399	)		(100,449	)		(250,577	)		(585,468	)		(899,821	)		(1,541,444	)		(10,887,985	)		(14,297,143	)		(16,314,969	)
Subtotal - 09/30/2012		-		-			3,967,060			4,460,614			4,022,402			2,730,666			2,230,967			2,250,447			12,229,244			31,891,400
	Non-overdue operations
Falling due installments		179,844,481		115,919,964			35,784,448			14,995,840			6,305,861			1,566,481			999,994			1,312,654			2,291,168			359,020,891			324,819,028
01 to 30		12,361,070		25,995,927			6,510,111			3,495,728			1,236,221			253,809			111,405			197,740			411,778			50,573,789			48,053,813
31 to 60		13,135,788		11,354,561			3,717,291			1,286,623			298,109			69,259			37,043			84,845			173,388			30,156,907			28,787,623
61 to 90		7,716,905		8,216,346			2,608,432			842,110			459,086			45,690			45,066			23,849			115,546			20,073,030			18,840,906
91 to 180		19,999,604		13,922,945			4,987,815			1,214,349			384,232			128,946			96,849			66,543			221,169			41,022,452			36,793,391
181 to 365		27,682,709		15,140,416			5,674,739			1,956,199			755,963			341,814			140,731			118,757			293,530			52,104,858			49,620,001
Over 365		98,948,405		41,289,769			12,286,060			6,200,831			3,172,250			726,963			568,900			820,920			1,075,757			165,089,855			142,723,294
Overdue up to 14 days		327,023		1,200,695			331,758			138,036			68,683			29,355			15,820			33,556			38,556			2,183,482			3,099,864
Subtotal		180,171,504		117,120,659			36,116,206			15,133,876			6,374,544			1,595,836			1,015,814			1,346,210			2,329,724			361,204,373			327,918,892
Generic allowance		-		(585,609	)		(361,167	)		(454,021	)		(637,459	)		(478,751	)		(507,907	)		(942,347	)		(2,329,724	)		(6,296,985	)		(6,309,043	)
Subtotal - 09/30/2012		123,572,187		139,518,196			35,095,602			16,287,323			7,840,092			1,342,670			998,337			595,291			2,669,194			327,918,892
Grand total		180,171,504		117,120,659			39,256,134			18,482,175			8,880,307			3,547,397			2,815,456			3,548,273			13,217,709			387,039,614			359,810,292
Existing allowance		-		(585,609	)		(392,566	)		(1,501,650	)		(2,663,209	)		(1,773,344	)		(1,970,538	)		(3,547,918	)		(13,217,709	)		(25,652,543	)		(27,682,427	)
Minimum allowance required		-		(585,609	)		(392,566	)		(554,470	)		(888,036	)		(1,064,219	)		(1,407,728	)		(2,483,791	)		(13,217,709	)		(20,594,128	)		(22,624,012	)
Additional allowance (3)		-		-			-			(947,180	)		(1,775,173	)		(709,125	)		(562,810	)		(1,064,127	)		-			(5,058,415	)		(5,058,415	)
Grand total - 09/30/2012		123,572,187		139,518,196			39,062,662			20,747,937			11,862,494			4,073,336			3,229,304			2,845,738			14,898,438			359,810,292
Existing allowance		-		(697,591	)		(390,626	)		(996,305	)		(3,557,562	)		(2,036,261	)		(2,260,190	)		(2,845,454	)		(14,898,438	)		(27,682,427	)
Minimum allowance required		-		(697,591	)		(390,626	)		(622,438	)		(1,186,249	)		(1,222,001	)		(1,614,652	)		(1,992,017	)		(14,898,438	)		(22,624,012	)
Additional allowance (3)		-		-			-			(373,867	)		(2,371,313	)		(814,260	)		(645,538	)		(853,437	)		-			(5,058,415	)

(1) Operations with overdue installments for more than 14 days or under responsibility of bankruptcy or in process of bankruptcy companies;

(2) The balance of non-accrual operations amounts to R$ 17,981,644 (R$ 22,200,624at 09/30/2012);

(3) Allocated to each level of risk in order to explain the additional volume required for alignment to the amount of the expected loss.

III – By business sector

	09/30/2013		%			09/30/2012		%
Public Sector		3,420,365		0.9	%		926,771		0.3	%
Energy		99,236		0.0	%		269,838		0.1	%
Petrochemical and chemical		3,136,061		0.8	%		446,109		0.1	%
Sundry		185,068		0.0	%		210,824		0.1	%
Private sector		383,619,249		99.1	%		358,883,521		99.7	%
Companies		214,030,343		55.3	%		200,834,820		55.8	%
Sugar and alcohol		8,479,167		2.2	%		7,655,762		2.1	%
Agribusiness and fertilizers		13,076,654		3.4	%		11,233,122		3.1	%
Food and beverage		11,015,882		2.8	%		9,980,001		2.8	%
Banks and other financial institutions		3,768,366		1.0	%		4,352,083		1.2	%
Capital assets		7,979,733		2.1	%		7,200,822		2.0	%
Pulp and paper		3,088,233		0.8	%		2,884,579		0.8	%
Publishing and printing		1,513,749		0.4	%		1,643,991		0.5	%
Electronic and IT		5,035,059		1.3	%		5,057,889		1.4	%
Packaging		2,350,489		0.6	%		1,825,825		0.5	%
Energy and sewage		6,006,839		1.6	%		5,517,196		1.5	%
Education		1,248,051		0.3	%		1,144,439		0.3	%
Pharmaceuticals and cosmetics		4,228,860		1.1	%		3,907,760		1.1	%
Real estate agents		16,558,321		4.3	%		13,141,711		3.7	%
Entertainment and tourism		3,388,424		0.9	%		3,356,340		0.9	%
Wood and furniture		3,087,064		0.8	%		3,168,817		0.9	%
Construction material		5,338,548		1.4	%		5,073,193		1.4	%
Steel and metallurgy		9,044,663		2.3	%		8,074,963		2.2	%
Media		884,984		0.2	%		845,037		0.2	%
Mining		2,741,946		0.7	%		2,835,491		0.8	%
Infrastructure work		4,807,699		1.2	%		4,811,868		1.3	%
Oil and gas		3,600,774		0.9	%		2,962,724		0.8	%
Petrochemical and chemical		6,100,795		1.6	%		5,889,323		1.6	%
Health care		1,750,571		0.5	%		1,744,683		0.5	%
Insurance and reinsurance and pension plans		4,483		0.0	%		5,727		0.0	%
Telecommucations		1,174,599		0.3	%		1,094,526		0.3	%
Third sector		88,643		0.0	%		112,769		0.0	%
Trading		1,949,862		0.5	%		2,318,729		0.6	%
Transportation		17,403,385		4.5	%		16,581,251		4.6	%
Domestic appliances		2,489,315		0.6	%		2,671,066		0.7	%
Vehicles and autoparts		13,096,590		3.4	%		12,759,065		3.5	%
Clothing and shoes		5,199,365		1.3	%		5,167,014		1.4	%
Commerce - sundry		13,729,330		3.5	%		14,337,047		4.0	%
Industry - sundry		3,494,835		0.9	%		4,848,372		1.3	%
Sundry services		17,055,641		4.4	%		16,995,210		4.7	%
Sundry		13,249,424		3.4	%		9,636,425		2.7	%
Individuals		169,588,906		43.8	%		158,048,701		43.9	%
Credit cards		44,911,893		11.6	%		37,508,670		10.4	%
Real estate financing		28,320,719		7.3	%		21,362,662		5.9	%
Consumer loans / overdraft		52,831,011		13.7	%		45,130,996		12.5	%
Vehicles		43,525,283		11.2	%		54,046,373		15.0	%
Grand total		387,039,614		100.0	%		359,810,292		100.0	%

b) Credit concentration

	09/30/2013				09/30/2012
Loan, lease and other credit operations (*)	Risk		% of total		Risk		% of total
Largest debtor		4,957,801		1.1		4,332,994		1.0
10 largest debtors		29,132,158		6.4		26,374,842		6.3
20 largest debtors		45,247,287		9.9		42,361,640		10.1
50 largest debtors		73,873,845		16.2		66,155,639		15.8
100 largest debtors		100,741,258		22.1		86,982,805		20.8

(*) The amounts include endorsements and sureties.

	09/30/2013				09/30/2012
Loan, lease and other credit operations and securities of companies and financial institutions (*)	Risk		% of total		Risk		% of total
Largest debtor		5,159,556		1.0		4,962,447		1.1
10 largest debtors		38,515,434		7.4		36,220,393		7.7
20 largest debtors		60,618,190		11.7		58,564,465		12.4
50 largest debtors		98,273,629		18.9		91,801,941		19.4
100 largest debtors		132,315,749		25.5		119,037,368		25.2

(*) The amounts include endorsements and sureties.

c) Changes in allowance for loan losses

	01/01 to 09/30/2013			01/01 to 09/30/2012
Opening balance		(27,744,938	)		(25,771,727	)
Effect of change in consolidation criteria (Note 2b)		(483,210	)		-
Net increase for the period		(14,384,990	)		(17,959,140	)
Required by Resolution No. 2,682/99		(14,384,990	)		(17,959,140	)
Additional allowance		-			-
Write-Off		16,960,595			16,048,440
Closing balance (1)		(25,652,543	)		(27,682,427	)
Required by Resolution No. 2,682/99		(20,594,128	)		(22,624,012	)
Specific allowance (2)		(14,297,143	)		(16,314,969	)
Generic allowance (3)		(6,296,985	)		(6,309,043	)
Additional allowance (4)		(5,058,415	)		(5,058,415	)

(1) The allowance for loan losses related to the lease portfolio amounts to: R$ (956,783) (R$ (1,589,831) at Setember 30, 2012.

(2) Operations with overdue installments for more than 14 days or under responsibility of bankruptcy or in process of bankruptcy companies.

(3) For operations not covered in the previous item due to the classification of the client or operation.

(4) Refers to the provision in excess of the minimum required percentage by CMN Resolution No. 2,682 of December 21, 1999, based on the expected loss methodology adopted in the institution’s credit risk management, which also considers the potential losses in revolving credit.

At Setember 30, 2013, the balance of the allowance in relation to the loan portfolio is equivalent to 6.6% (7.7% at 09/30/2012).

d) Recovery and renegotiation of credits

I - Composition of the result of allowance for loan losses

	01/01 to 09/30/2013			01/01 to 09/30/2012
Expenses for allowance for loan losses		(14,384,990	)		(17,959,140	)
Income from recovery of credits written off as loss		3,645,238			3,477,108
Result of allowance for loan losses (*)		(10,739,752	)		(14,482,032	)

(*) The amounts related to the lease portfolio from 01/01 to 09/30/2013 are: Expenses for allowance for loan losses R$ (652,635) (R$ (892,699) from 01/01 to 09/30/2012) and Income from recovery of credits written off as loss R$ 372,864 (R$ 592,757 from 01/01 to 09/30/2012).

II - Renegotiated loan operations

	09/30/2013									09/30/2012
	Portfolio (1)			Allowance for Loan Losses			%			Portfolio (1)			Allowance for Loan Losses			%
Amended Credit Agreements		18,252,209			(8,170,526	)		44.8	%		19,523,667			(8,673,811	)		44.4	%
(-) Amended Operations non-overdue (2)		(4,958,994	)		1,372,710			27.7	%		(5,070,604	)		1,503,848			29.7	%
Renegotiated loan operations		13,293,215			(6,797,816	)		51.1	%		14,453,063			(7,169,963	)		49.6	%

(1) The amounts related to the lease portfolio are R$ 770,741 (R$ 1,031,722 at Setember,30 2012).

(2) Resulting from transations non-overdue or a delay of less than 30 days, reflex of changes in the original contractual terms.

e) Restricted operations on assets

See below the information related to the restricted operations on assets, in accordance with CMN Resolution No. 2,921, of January 17, 2002.

	09/30/2013										01/01 to 09/30/2013			09/30/2012		01/01 to 09/30/2012
	0 - 30		31 - 180		181 - 365		Over 365 days		Total		Income (expenses)			Total		Income (expenses)
Restricted operations on assets
Loan operations		813		85		51		155,455		156,404		16,653			119,630		15,548
Liabilities - restricted operations on assets
Foreign borrowings through securities		813		85		-		155,455		156,353		(16,650	)		119,630		(15,548	)
Net revenue from restricted operations												3					-

At September 30, 2013, and 2012 there were no balances in default.

f) Operations of sale or transfers and acquisitions of financial assets

I. Credit assignments (transfers of receivables) carried out through December 2011 were recorded in accordance with current regulation together with income recognition at the time of the assignment, regardless of the risks and benefits being retained or not.

In compliance with CMN Resolution No. 3,809, of October 28, 2009, the amount of operations assigned with joint obligation, at September 30, 2013 where the entity significantly retained the related risks and benefits is R$ 322,176 (R$ 449,063 at 09/30/2012), composed of real estate financing of R$ 304,938 (R$ 429,700 at 09/30/2012) and farming financing of R$ 17,238 (R$ 19,363 at 09/30/2012).

II. Beginning January 2012, as provided for by CMN Resolution No. 3,533/08, of January 31, 2008 and supplementary regulation, accounting records take into consideration the retention or non-retention of risks and benefits on sale or transfers of financial assets.

Sales or transfers of financial assets without risk and benefit retention totaling R$ 667,664 with effect on results of R$ 1,881, net of Allowance for Loan Losses.

Acquisitions of loan portfolios with the retention of assignor’s risks carried out as from January 2012 to September 30, 2013 totals R$ 4,371,840, and the total amount of acquired portfolios is R$ 4,824,684, at September 30, 2013.

In 2013, there was an increase of R$ 1,531,552 in the total amount of loan portfolio acquired with risk retention of the assignor.

Note 9 - Foreign exchange portfolio

	09/30/2013			09/30/2012
Assets  - other receivables		52,988,923			40,949,887
Exchange purchase pending settlement – foreign currency		28,610,238			22,941,184
Bills of exchange and term documents – foreign currency		5,210			-
Exchange sale rights – local currency		24,800,446			18,489,047
(Advances received) – local currency		(426,971	)		(480,344	)
Liabilities – other liabilities (Note 2a)		53,315,065			41,124,676
Exchange sales pending settlement – foreign currency		25,341,639			18,472,885
Liabilities from purchase of foreign currency – local currency		27,966,291			22,646,922
Other		7,135			4,869
Memorandum accounts		1,106,140			1,405,574
Outstanding import credits – foreign currency		1,083,417			1,337,564
Confirmed export credits – foreign currency		22,723			68,010

Note 10 – Funding and borrowings and onlending

a) Summary

	09/30/2013												09/30/2012
	0-30		31-180		181-365		Over 365 days		Total		%		Total		%
Deposits		155,124,138		27,842,675		9,843,772		59,468,640		252,279,225		34.7		231,919,355		36.2
Deposits received under securities repurchase agreements		145,242,600		15,524,689		14,346,696		120,022,467		295,136,452		40.6		245,271,713		38.3
Funds from acceptance and issuance of securities		3,192,882		14,769,607		7,812,588		24,896,558		50,671,635		7.0		57,044,035		8.9
Borrowings and onlending		4,205,855		16,155,881		17,245,599		35,693,745		73,301,080		10.1		56,853,778		8.9
Subordinated debt (*)		251,720		569,820		3,525,732		50,922,844		55,270,116		7.6		49,342,036		7.7
Total		308,017,195		74,862,672		52,774,387		291,004,254		726,658,508				640,430,917
% per maturity term		42.4		10.3		7.3		40.0
Total – 09/30/2012		242,826,539		66,734,015		51,983,654		278,886,709		640,430,917
% per maturity term		38.0		10.4		8.1		43.5

(*) Includes R$ 876,589 (R$ 798,296 at 09/30/2012) of Redeemable Preferred Shares classified under Minority Interest in Balance Sheet.

b) Deposits

	09/30/2013												09/30/2012
	0-30		31-180		181-365		Over 365 days		Total		%		Total		%
Demand deposits		37,816,640		-		-		-		37,816,640		15.0		29,817,694		12.9
Savings accounts		98,227,575		-		-		-		98,227,575		38.9		77,413,953		33.4
Interbank		1,850,621		3,451,294		2,022,091		355,763		7,679,769		3.0		9,515,852		4.0
Time deposits		17,229,302		24,391,381		7,821,681		59,112,877		108,555,241		43.1		115,171,856		49.7
Total		155,124,138		27,842,675		9,843,772		59,468,640		252,279,225				231,919,355
% per maturity term		61.5		11.0		3.9		23.6
Total – 09/30/2012		127,105,134		20,818,387		11,718,292		72,277,542		231,919,355
% per maturity term		54.8		9.0		5.1		31.1

ITAÚ UNIBANCO HOLDING’s portfolio is composed of interbank deposits in the amount of R$ 104,110 at 09/30/2013 with maturity of 31 to 180 days (R$ 5,154,518 at 09/30/2012, with maturity of 31 to 180 days).

c) Deposits received under securities repurchase agreements

	09/30/2013												09/30/2012
	0 - 30		31 - 180		181 - 365		Over 365 days		Total		%		Total		%
Own portfolio		44,977,468		14,323,305		14,330,051		91,064,610		164,695,434		55.8		161,747,280		65.9
Government securities		28,988,986		355,665		12,430		2,837		29,359,918		9.9		28,283,422		11.5
Own issue		2,022,018		13,967,640		14,317,621		91,061,773		121,369,052		41.1		121,776,968		49.6
Foreign		13,966,464		-		-		-		13,966,464		4.8		11,686,890		4.8
Third-party portfolio		100,213,945		2,574		-		-		100,216,519		34.0		66,487,407		27.2
Free portfolio		51,187		1,198,810		16,645		28,957,857		30,224,499		10.2		17,037,026		6.9
Total		145,242,600		15,524,689		14,346,696		120,022,467		295,136,452				245,271,713
% per maturity term		49.2		5.3		4.9		40.6
Total – 09/30/2012		108,261,853		10,884,385		14,977,778		111,147,697		245,271,713
% per maturity term		44.1		4.4		6.1		45.4

d) Funds from acceptance and issuance of securities

	09/30/2013												09/30/2012
	0-30		31-180		181-365		Over 365 days		Total		%		Total		%
Funds from bills:		2,435,540		11,765,012		5,451,337		14,624,349		34,276,238		67.6		39,823,317		69.8
Financial		441,971		4,428,827		2,340,464		9,421,846		16,633,108		32.8		19,256,162		33.7
Of real estate loans		1,022,609		5,157,853		1,666,122		1,981,932		9,828,516		19.4		15,444,447		27.1
Bill of credit related to agribusiness		962,869		2,168,647		1,422,850		3,068,595		7,622,961		15.0		4,880,619		8.6
Mortgage notes		8,091		9,685		21,901		151,976		191,653		0.4		242,089		0.4
Debentures		220		-		-		-		220		0.0		2,616,549		4.6
Foreign securities		757,122		3,004,595		2,361,251		10,272,209		16,395,177		32.4		14,604,169		25.6
Non-trade related – issued abroad		757,122		3,004,595		2,361,251		10,272,209		16,395,177		32.4		14,604,169		25.6
Brazil risk note programme		641,787		1,894,902		1,340,245		2,639,042		6,515,976		12.9		7,309,069		12.8
Structure note issued		91,257		451,991		697,625		3,229,781		4,470,654		8.8		3,863,460		6.8
Bonds		4,426		50,250		53,675		2,896,493		3,004,844		5.9		1,778,818		3.1
Fixed rate notes		18,218		533,279		98,743		1,271,135		1,921,375		3.8		1,248,721		2.2
Eurobonds		1,434		14,780		-		120,958		137,172		0.3		306,486		0.5
Other		-		59,393		170,963		114,800		345,156		0.7		97,615		0.2
Total		3,192,882		14,769,607		7,812,588		24,896,558		50,671,635				57,044,035
% per maturity term		6.3		29.2		15.4		49.1
Total – 09/30/2012		3,711,197		18,897,422		10,245,237		24,190,179		57,044,035
% per maturity term		6.5		33.1		18.0		42.4

ITAÚ UNIBANCO HOLDING’s portfolio is composed of Brazil Risk Note Programme with maturity of 31 days to 180 days in the amount of R$ 18,667 (R$ 18,667 at 09/30/2012) and over 365 days in the amount of R$ 500,000 (R$ 500,000 at 09/30/2012), totaling R$ 518,667 (R$ 518,667 at 09/30/2012).

e) Borrowings and onlending

	09/30/2013												09/30/2012
	0-30		31-180		181-365		Over 365 days		Total		%		Total		%
Borrowings		3,117,990		10,797,689		11,515,364		6,515,533		31,946,576		43.6		21,993,818		38.7
Domestic		375,430		62,577		156,407		191,371		785,785		1.1		413,787		0.7
Foreign (*)		2,742,560		10,735,112		11,358,957		6,324,162		31,160,791		42.5		21,580,031		38.0
Onlending		1,087,865		5,358,192		5,730,235		29,178,212		41,354,504		56.4		34,859,960		61.3
Domestic – official institutions		1,087,865		4,892,166		5,730,235		29,012,166		40,722,432		55.6		34,255,869		60.3
BNDES		374,302		1,172,656		1,476,781		9,173,202		12,196,941		16.6		10,303,634		18.1
FINAME		647,952		3,481,616		4,110,840		19,671,802		27,912,210		38.1		23,553,949		41.4
Other		65,611		237,894		142,614		167,162		613,281		0.8		398,286		0.7
Foreign		-		466,026		-		166,046		632,072		0.9		604,091		1.1
Total		4,205,855		16,155,881		17,245,599		35,693,745		73,301,080				56,853,778
% per maturity term		5.8		22.0		23.5		48.7
Total – 09/30/2012		2,581,440		12,750,347		14,961,024		26,560,967		56,853,778
% per maturity term		4.5		22.4		26.3		46.7

(*) Foreign borrowings are basically represented by foreign exchange transactions related to export pre-financing and import financing.

f) Subordinated debt

	09/30/2013															09/30/2012
	0-30		31-180		181-365		Over 365 days			Total			%			Total			%
CDB		-		127,830		3,507,305		8,198,429			11,833,564			21.4			15,373,772			31.2
Financial treasury bills		181,758		257,620		9,494		24,349,483			24,798,355			44.9			20,712,197			42.0
Euronotes		63,369		184,370		-		17,376,621			17,624,360			31.9			12,175,570			24.7
Bonds		6,593		-		8,894		182,661			198,148			0.4			326,927			0.7
(-) Transaction costs incurred (Note 4b)		-		-		-		(60,900	)		(60,900	)		(0.1	)		(44,726	)		(0.1	)
Total Other Liabilities		251,720		569,820		3,525,693		50,046,294			54,393,527						48,543,740
Redeemable preferred shares		-		-		39		876,550			876,589			1.6			798,296			1.6
Grand total (*)		251,720		569,820		3,525,732		50,922,844			55,270,116						49,342,036
% per maturity term		0.5		1.0		6.4		92.1
Total – 09/30/2012		1,166,915		3,383,474		81,323		44,710,324			49,342,036
% per maturity term		2.4		6.9		0.2		90.6

(*) The amount of R$ 53,949,412(R$ 44,980,135 at 09/30/2012) is included in the Referential Equity, using the proportionalities set forth in CMN Resolution No. 3,444 of February 28, 2007 and changes made by CMN Resolution No. 3,532 of January 31, 2008.

Description
Name of security / currency	Principal amount (original currency)		Issue		Maturity		Return p.a.	Account balance
Subordinated CDB - BRL
		40,000		2003		2013	102% of CDI		127,829
		1,864,500		2007		2014	100% of CDI + 0.35% to 0.6		3,525,371
		33,200					IGPM + 7.22%		73,787
		1,000,000		2008		2014	112% of CDI		1,652,333
		400,000		2008		2015	119.8% of CDI		701,248
		50,000		2010		2015	113% of CDI		72,938
		465,835		2006		2016	100% of CDI + 0.7% (*)		947,161
		2,719,268		2010		2016	110% to 114% of CDI		3,965,632
		122,500					IPCA + 7.21%		191,495
		366,830		2010		2017	IPCA + 7.33%		575,770
							Total		11,833,564
Subordinated financial bills - BRL
		365,000		2010		2016	100% of CDI + 1.35% to 1.36%		368,964
		1,874,000					112% to 112.5% of CDI		1,893,684
		30,000					IPCA + 7%		42,588
		206,000		2010		2017	IPCA + 6.95% to 7.2%		254,505
		3,223,500		2011		2017	108% to 112% of CDI		3,313,263
		352,400					IPCA + 6.15% to 7.8%		436,860
		138,000					IGPM + 6.55% to 7.6%		176,678
		3,650,000					100% of CDI + 1.29% to 1.52%		3,740,509
		500,000		2012		2017	100% of CDI + 1.12%		515,732
		42,000		2011		2018	IGPM + 7%		50,607
		30,000					IPCA + 7.53% to 7.7%		35,523
		460,645		2012		2018	IPCA + 4.40% to 6.58%		537,674
		3,782,100					100% of CDI + 1.01% to 1.32%		3,891,213
		6,373,127					108% to 113% of CDI		6,647,423
		112,000					9.95% to 11.95%		126,491
		2,000		2011		2019	109% to 109.7% of CDI		2,367
		12,000		2012		2019	11.96%		14,364
		100,500					IPCA + 4.70% to 6.30%		114,752
		1,000					110% of CDI		1,159
		20,000		2012		2020	IPCA + 6.00% to 6.17%		23,911
		1,000					111% of CDI		1,161
		6,000		2011		2021	109.25% to 110.50% of CDI		7,268
		2,306,500		2012		2022	IPCA + 5.15% to 5.83%		2,580,773
		20,000					IGPM + 4.63%		20,886
							Total		24,798,355
Subordinated euronotes - USD
		1,000,000		2010		2020	6.2%		2,286,834
		1,000,000		2010		2021	5.75%		2,247,853
		750,000		2011		2021	5.75% to 6.2%		1,713,483
		550,000		2012		2021	6.2%		1,239,457
		2,625,000		2012		2022	5.50% to 5.65%		5,823,808
		1,870,000		2012		2023	5.13%		4,252,025
							Total		17,563,460
Subordinated bonds - CLP		41,528,200		2008		2033	3.5% to 4.5%		198,148
Preferred shares - USD		393,072		2002		2015	3.04%		876,589
Total									55,270,116

(*) Subordinated CDBs may be redeemed as from November 2011.

ITAÚ UNIBANCO HOLDING’s portfolio is composed of Subordinated Euronotes with maturity of up to 30 days in the amount of R$ 62,732 (R$ 57,703 at 09/30/2012), with maturity of 31 to 180 days in the amount of R$ 184,370 (R$ 93,285 09/30/2012) and over 365 days in the amount of R$ 17,316,359 (R$ 11,979,856 at 09/30/2012), totaling R$ 17,563,461 (R$ 12,130,844 at 09/30/2012).

Note 11 - Insurance, pension plan and capitalization operations

a) Composition of the technical provisions per segment

	Insurance				Pension plan				Capitalization				Total
	09/30/2013		09/30/2012		09/30/2013		09/30/2012		09/30/2013		09/30/2012		09/30/2013		09/30/2012
Unearned premiums		5,311,243		4,658,994		8,689		5,012		-		-		5,319,932		4,664,006
Mathematical provision of benefits to be granted and benefits granted		18,626		19,312		84,537,923		74,396,741		-		-		84,556,549		74,416,053
Redemptions and Other Unsettled Amounts		18,786		16,822		57,219		54,144		-		-		76,005		70,966
Financial surplus		1,336		1,455		491,909		494,045		-		-		493,245		495,500
Unsettled claims		3,032,555		2,497,174		93,790		89,305		-		-		3,126,345		2,586,479
Claims / events incurred but not reported (IBNR)		845,090		827,812		12,188		11,937		-		-		857,278		839,749
Administrative and Related Expenses		177,531		162,102		41,147		50,027		25,715		8,795		244,393		220,924
Mathematics for Capitalization and Redemptions		-		-		-		-		2,936,922		2,846,963		2,936,922		2,846,963
Raffles Payable and To Be Held		-		-		-		-		21,890		16,922		21,890		16,922
Complementary Raffles		-		-		-		-		4,950		16,758		4,950		16,758
Other provisions		336,813		357,753		779,269		737,926		4,013		11,059		1,120,095		1,106,738
Total (*)		9,741,980		8,541,424		86,022,134		75,839,137		2,993,490		2,900,497		98,757,604		87,281,058

(*) This table covers the amendments established by Susep Circular No. 462, of 03/01/2013, also for comparison purposes.

The Liability adequacy test did not show any deficiency in this period.

b) Assets guaranteeing technical provisions - SUSEP

	Insurance				Pension plan						Capitalization				Total
	09/30/2013		09/30/2012		09/30/2013			09/30/2012			09/30/2013		09/30/2012		09/30/2013			09/30/2012
Interbank investments – money market		1,264,457		690,857		823,637			802,895			1,019,307		1,056,449		3,107,401			2,550,201
Securities and derivative financial instruments		3,433,056		3,361,790		85,346,004			75,328,224			2,088,865		1,943,253		90,867,925			80,633,267
PGBL/VGBL fund quotas (1)		-		-		79,779,392			69,856,629			-		-		79,779,392			69,856,629
Government securities - domestic		-		-		54,364,276			46,518,109			-		-		54,364,276			46,518,109
National treasury bills		-		-		27,138,210			12,143,413			-		-		27,138,210			12,143,413
National treasury notes		-		-		25,682,006			29,353,009			-		-		25,682,006			29,353,009
Financial treasury bills		-		-		1,544,060			5,021,687			-		-		1,544,060			5,021,687
Corporate securities		-		-		25,101,742			23,015,851			-		-		25,101,742			23,015,851
Bank deposit certificates		-		-		2,843,376			5,122,402			-		-		2,843,376			5,122,402
Debentures		-		-		3,733,304			2,483,517			-		-		3,733,304			2,483,517
Shares		-		-		1,093,063			1,469,220			-		-		1,093,063			1,469,220
Credit note		-		-		245,618			806,749			-		-		245,618			806,749
Financial treasury bills		-		-		17,183,832			13,128,335			-		-		17,183,832			13,128,335
Securitized real estate loans		-		-		2,549			5,628			-		-		2,549			5,628
PGBL/VGBL fund quotas		-		-		324,138			389,174			-		-		324,138			389,174
Derivative financial instruments		-		-		71,318			25,634			-		-		71,318			25,634
Loans for Shares		-		-		(44,493	)		-			-		-		-			-
Accounts receivable / (payable)		-		-		(37,589	)		(92,139	)		-		-		(37,589	)		(92,139	)
Other assets		3,433,056		3,361,790		5,566,612			5,471,595			2,088,865		1,943,253		11,088,533			10,776,638
Government		1,020,254		1,122,232		4,429,760			4,219,841			50,869		273,426		5,500,883			5,615,499
Private		2,412,802		2,239,558		1,136,852			1,251,754			2,037,996		1,669,827		5,587,650			5,161,139
Receivables from insurance and reinsurance operations (2)		5,368,212		4,578,916		-			-			-		-		5,368,212			4,578,916
Credit rights		990,116		1,114,637		-			-			-		-		990,116			1,114,637
Commercial – extended guarantee		1,307,185		1,290,864		-			-			-		-		1,307,185			1,290,864
Reinsurance		3,070,911		2,173,415		-			-			-		-		3,070,911			2,173,415
Total		10,065,725		8,631,563		86,169,641			76,131,119			3,108,172		2,999,702		99,343,538			87,762,384

(1) The PGBL and VGBL plans securities portfolios, the ownership and embedded risks of which are the customer’s responsibility, are recorded as securities – trading securities, with a contra-entry to long-term liabilities in Pension Plan Technical Provisions account, as determined by SUSEP.

(2) Recorded under Other receivables and Other assets.

c) Financial and operating income per segment

	Insurance																		Pension plan																		Capitalization						Total
	01/01 to 09/30/2013									01/01 to 09/30/2012									01/01 to 09/30/2013									01/01 to 09/30/2012									01/01 to			01/01 to			01/01 to			01/01 to
	Direct			Reinsurance			Withheld			Direct			Reinsurance			Withheld			Direct			Reinsurance			Withheld			Direct			Reinsurance			Withheld			09/30/2013			09/30/2012			09/30/2013			09/30/2012
Financial income from insurance, pension plan and capitalization operations		117,350			-			117,350			250,789			-			250,789			165,748			-			165,748			161,185			-			161,185			57,303			98,769			340,401			510,743
Financial income		178,746			-			178,746			277,635			-			277,635			1,897,736			-			1,897,736			4,819,833			-			4,819,833			164,941			216,612			2,241,423			5,314,080
Financial expenses		(61,396	)		-			(61,396	)		(26,846	)		-			(26,846	)		(1,731,988	)		-			(1,731,988	)		(4,658,648	)		-			(4,658,648	)		(107,638	)		(117,843	)		(1,901,022	)		(4,803,337	)
Operating income from insurance, pension plan and capitalization operations		2,535,789			(403,750	)		2,132,039			1,746,140			(77,561	)		1,668,579			146,485			(4,505	)		141,980			76,034			(589	)		75,445			375,806			377,498			2,649,825			2,121,522
Premiums and contributions		6,006,548			(1,152,513	)		4,854,035			5,193,445			(878,597	)		4,314,848			11,838,065			(5,198	)		11,832,867			12,401,643			(4,973	)		12,396,670			1,755,894			1,503,479			18,442,796			18,214,997
Changes in technical provisions		(618,733	)		260,436			(358,297	)		(451,151	)		147,096			(304,055	)		(11,689,229	)		-			(11,689,229	)		(12,299,414	)		-			(12,299,414	)		(32,873	)		(5,575	)		(12,080,399	)		(12,609,044	)
Expenses for claims, benefits, redemptions and raffles		(2,036,089	)		439,892			(1,596,197	)		(2,146,843	)		607,346			(1,539,497	)		3,081			-			3,081			(20,841	)		4,384			(16,457	)		(1,357,471	)		(1,122,974	)		(2,950,587	)		(2,678,928	)
Selling expenses		(800,009	)		48,435			(751,574	)		(804,810	)		46,594			(758,216	)		(2,818	)		-			(2,818	)		(2,077	)		-			(2,077	)		-			(2,431	)		(754,392	)		(762,724	)
Other operating revenues and expenses		(15,928	)		-			(15,928	)		(44,501	)		-			(44,501	)		(2,614	)		693			(1,921	)		(3,277	)		-			(3,277	)		10,256			4,999			(7,593	)		(42,779	)
Total result from insurance, pension plan and capitalization operations		2,653,139			(403,750	)		2,249,389			1,996,929			(77,561	)		1,919,368			312,233			(4,505	)		307,728			237,219			(589	)		236,630			433,109			476,267			2,990,226			2,632,265

Note 12 – Contingent assets and liabilities and legal liabilities – tax and social security

In the ordinary course of its businesses, ITAÚ UNIBANCO HOLDING CONSOLIDATED is involved in contingencies that may be classified as follows.

a) Contingent Assets:there are no contingent assets recorded.

b) Provisions and contingencies:The criteria to quantify contingencies are adequate in relation to the specific characteristics of civil, labor and tax lawsuits portfolios, as well as other risks.

- Civil lawsuits:

Collective lawsuits (related to claims considered similar and which each individual amount is not considered significant):contingencies are determined on a monthly basis and the expected amount of losses is accrued according to statistical references that take into account the type of lawsuit and the characteristics of the legal body (Small Claims Court or Regular Court).

Individual lawsuits (related to claims with unusual characteristics or involving significant amounts):determined from time to time, based on the amount claimed and the likelihood of loss, which, in turn, is estimated according to the “de facto” and “de jure” characteristics related to such lawsuit.The amounts of losses which likelihood of loss is considered probable are accrued.

Contingencies usually arise from revision of contracts and compensation for property damage and pain and suffering; most of these lawsuits are filed in the Small Claims Court and therefore limited to 40 minimum monthly wages.ITAÚ UNIBANCO HOLDING is also party to specific lawsuits over the charging of understated inflation adjustment to savings accounts in connection with economic plans.

The case law at the Federal Supreme Court is favorable to banks in relation to an economic phenomenon similar to savings, as in the case of adjustment to time deposits and contracts in general.Additionally, the Superior Court of Justice has decided that the term for filing public civil actions over understated inflation is five years.In view of such decision, some of the lawsuits may be dismissed because they were filed after the five-year period.

In the accounting books no amount is recognized in relation to Civil lawsuits which likelihood of loss is considered possible, which total estimated risk is R$ 1,893,223 (R$ 1,647,949 at September 30, 2012) and main natures of these lawsuits refer to claims form compensation or collections, the individual amounts of which are not significant.

- Labor claims

Collective lawsuits (related to claims considered similar and which each individual amount is not considered significant):The expected amount of loss is determined and accrued monthly according to the statistical share pricing model, plus the average cost of fees.These are adjusted to the amounts deposited as guarantee for their execution when realized.

Individual lawsuits (related to claims with unusual characteristics or involving significant amounts):determined from time to time, based on the amount claimed and the likelihood of loss, which, in turn, is estimated according to the “de facto” and “de jure” characteristics related to such lawsuit.The amounts of losses which likelihood of loss is considered probable are accrued.

Contingencies are related to lawsuits in which alleged labor rights based on labor legislation specific to the related profession, such as overtime, salary equalization, reinstatement, transfer allowance, pension plan supplement and other, are discussed.

There are no labor claims of significant amounts falling under the category of possible loss.

- Other Risks

These are quantified and accrued mainly based on the evaluation of rural credit transactions with joint liability and FCVS (salary variations compensation fund) credits assigned to Banco Nacional.

The table below shows the changes in the respective provisions for contingent liabilities and the respective escrow deposits balances:

	01/01 to 09/30/2013												01/01 to 09/30/2012
	Civil			Labor			Other			Total			Total
Opening balance		3,731,588			4,852,246			192,303			8,776,137			7,344,812
Effect of change in consolidation criteria (Note 2b)		13,105			14,043			9			27,157			-
(-) Contingencies guaranteed by indemnity clauses (Note 4n I)		(118,176	)		(948,237	)		-			(1,066,413	)		(1,066,563	)
Subtotal		3,626,517			3,918,052			192,312			7,736,881			6,278,249
Monetary restatement/charges		144,200			150,801			-			295,001			188,553
Changes in the period reflected in results (Notes 13f and 13i)		1,160,289			1,076,956			22,952			2,260,197			2,160,763
Increase (*)		1,681,817			1,216,680			25,097			2,923,594			2,720,600
Reversal		(521,528	)		(139,724	)		(2,145	)		(663,397	)		(559,837	)
Payment		(1,264,848	)		(946,101	)		-			(2,210,949	)		(1,938,586	)
Subtotal		3,666,158			4,199,708			215,264			8,081,130			6,688,979
(+) Contingencies guaranteed by indemnity clauses (Note 4n I)		134,998			844,304			-			979,302			969,325
Closing balance (Note 13c)		3,801,156			5,044,012			215,264			9,060,432			7,658,304
Closing balance at 09/30/2012 (Note 13c)		3,249,751			4,229,566			178,987			7,658,304
Escrow deposits at 09/30/2013 (Note 13a)		2,166,345			2,372,596			-			4,538,941
Escrow deposits at 09/30/2012 (Note 13a)		2,048,533			2,437,948			-			4,486,481

(*) Civil provisions include the provision for economic plans amounting to R$175,978(R$ 202,097from January 1 to September 30, 2012) (Note 22k).

- Tax and social security lawsuits

Contingencies are equivalent to the principal amount of taxes involved in tax, administrative or judicial challenges, subject to tax assessment notices, plus interest and, when applicable, fines and charges. The amount is accrued when it involves legal obligation, regardless of the likelihood of loss, that is, a favorable outcome to the institution is dependent upon the recognition of the unconstitutionality of the applicable law in force. In other cases, the Bank recognizes a provision whenever the likelihood of loss is probable.

The table below shows the changes in the provisions and respective escrow deposits for Tax and Social Security lawsuits balances:

	01/01 to 09/30/2013									01/01 to 09/30/2012
Provisions	Legal obligation			Contingencies			Total			Total
Opening balance		7,612,614			2,820,991			10,433,605			8,644,552
Effect of change in consolidation criteria (Note 2b)		7,870			1,590			9,460			-
(-) Contingencies guaranteed by indemnity clauses		-			(61,198	)		(61,198	)		(57,438	)
Subtotal		7,620,484			2,761,383			10,381,867			8,587,114
Monetary restatement/charges		287,622			84,730			372,352			697,458
Changes in the period reflected in results		242,592			83,001			325,593			351,434
Increase		438,010			116,414			554,424			572,662
Reversal		(195,418	)		(33,413	)		(228,831	)		(221,228	)
Payment		(393,802	)		(73,266	)		(467,068	)		(74,528	)
Subtotal		7,756,896			2,855,848			10,612,744			9,561,478
(+) Contingencies guaranteed by indemnity clauses		-			55,814			55,814			60,516
Closing balance (Note 13c and 14c)		7,756,896			2,911,662			10,668,558			9,621,994
Closing balance at 09/30/2012 (Notes 13c and 14c)		7,290,675			2,331,319			9,621,994			-

	01/01 to 09/30/2013									01/01 to 09/30/2012
Escrow deposits	Legal obligation			Contingencies			Total			Total
Opening balance		4,196,129			360,710			4,556,839			5,178,313
Effect of change in consolidation criteria (Note 2b)		8,211			-			8,211			-
Appropriation of income		172,035			26,204			198,239			269,626
Changes in the period		778,099			10,453			788,552			180,688
Deposited		1,379,027			32,686			1,411,713			229,759
Withdrawals		(10,312	)		-			(10,312	)		(41,396	)
Reversals to income		(590,616	)		(22,233	)		(612,849	)		(7,675	)
Closing balance		5,154,474			397,367			5,551,841			5,628,627
Relocated to assets pledged in guarantee of contingencies (Note 12d)		-			1,255			1,255			(896,067	)
Closing balance after relocated (Note 13a)		5,154,474			398,622			5,553,096			4,732,560
Closing balance at 09/30/2012 (Note 13a)		4,362,295			370,265			4,732,560

The main discussions related to legal obligations are described as follows:

· PIS and COFINS – Calculation basis – R$ 3,172,875:we defend the levy of contributions on revenue, understood as the revenue from sales of assets and services.The corresponding escrow deposit balance totals R$ 1,725,801.

· CSLL – Isonomy – R$ 2,344,295: as the law increased the CSLL rate for financial and insurance companies to 15%, we discuss the lack of constitutional support for this measure and, due to the principle of isonomy, we defend the levy at the regular rate of 9%.The corresponding escrow deposit balance totals R$ 623,284.

· IRPJ and CSLL – Taxation of profits earned abroad – R$ 531,403: we discuss the calculation basis for levy of these taxes on profits earned abroad and the non-applicability of Regulatory Instruction SRF No. 213-02 in which it exceeds the suitability of the legal text.The corresponding escrow deposit balance totals R$ 491,773.

· PIS – Principles of anteriority over 90 days and non-retroactivity – R$ 419,084:we request the rejection of Constitutional Amendments No. 10/96 and 17/97 in view of the principle of anteriority and non-retroactivity, aiming at making payments based on Supplementary Law No. 07/70. The corresponding escrow deposit totals R$ 91,698.

Off-balance sheet contingencies - The amounts related to Tax and Social Security Lawsuits considered to be as possible loss, which total estimated risk is R$ 11,158,527, are the following:

· INSS – Non-compensatory amounts – R$ 2,497,689: we defend the non-taxation of these amounts, mainly profit sharing, stock option, transportation vouchers and sole bonus.

· IRPJ, CSLL, PIS and COFINS – Request for offset dismissed – R$ 1,455,400: cases in which the liquidity and the offset credit certainty are discussed.

· IRPJ and CSLL - Interest on capital - R$ 1,102,878: we defend the deductibility of interest on capital declared to stockholders based on the Brazilian long-term interest rate (TJLP) on the stockholders’ equity for the year and for prior years.

· IRPJ and CSLL – Goodwill – Deduction – R$ 616,279: deductibility of goodwill on acquisition of investments with future expected profitability.

· ISS – Banking Institutions – R$ 569,880: these are banking operations, which revenue may not be interpreted as price per service rendered and/or arises from activities not listed under a Supplementary Law.

· IRPJ and CSLL - Losses and discounts on receipt of credits – R$ 478,217: deductibility of effective losses as operating expense – credit assignment and renegotiation.

· INSS – Prevention Accident Factor (FAP) – R$ 395,435: adequacy of Insurance of Occupational Accident - SAT multiplier, in conformity with the number of Occupational Accident Notices.

· IRPJ and CSLL – Profit made available abroad – R$ 352,897: discussion of the calculation basis for levy of these taxes on profits earned abroad.

· IRPJ – Disallowance - offset of tax paid abroad – R$ 320,746: Cases in which the liquidity and certainty of credits offset in connection with  income tax paid abroad by branches, main branches, controlled and affilated companies are analyzed.

· IRPJ, CSLL, PIS and COFINS – Transfer of Shares to the “Nova Bolsa” – R$ 306,050: tax demanded in view of the share transfer process to the “Nova Bolsa”.

c) Receivables - reimbursement of contingencies

The receivables balance arising from reimbursements of contingencies totals R$ 738,426 (R$ 671,220 at 09/30/2012) (Note 13a), basically represented by the guarantee in the Banco Banerj S.A. privatization process occurred in 1997, in which the State of Rio de Janeiro created a fund to guarantee the equity recomposition of civil, labor and tax contingencies.

d) Assets pledged as contingencies

Assets pledged in guarantee for contingencies are related to liability contingencies and restricted or deposited as presented below:

	09/30/2013		09/30/2012
Securities (basically financial treasury bills – Note 7b)		1,272,341		1,427,341
Deposits in guarantee (Note 13a)		3,897,544		4,041,708

Escrow deposits are generally required to be made with the court in connection with lawsuits in Brazil and they are held by the court until a decision is made by the relevant court. In case of a decision against ITAÚ UNIBANCO HOLDING, the deposited amount is released from escrow and transferred to the counterparty in the lawsuit. In case of a decision in favor of ITAÚ UNIBANCO HOLDING, the deposited amount is released at the full amount deposited updated.

In general, provisions related to lawsuits of ITAÚ UNIBANCO HOLDING are long term, considering the time required for the termination of these lawsuits in the Brazilian judicial system, reason why estimate for specific year in which these lawsuits will be terminated have not been disclosed.

According to the opinion of its legal advisors, ITAÚ UNIBANCO HOLDING and its subsidiaries are not involved in any other administrative or judicial proceedings that may significantly impact the results of their operations. The combined evaluation of all existing provisions for all contingent liabilities and legal obligations, which are recognized based on statistical models for claims involving small amounts and on individual evaluation by internal and external legal advisors of other cases, showed that the accrued amounts are sufficient, as provided for by CMN Resolution No. 3,823, of December 16, 2009, and BACEN Circular Letter No. 3,429, of February 11, 2010.

Note 13 - Breakdown of accounts

a) Other sundry receivables

	09/30/2013			09/30/2012
Deferred tax assets (Note 14b I)		39,140,693			31,462,518
Social contribution for offset (Note 14b I)		647,727			644,470
Taxes and contributions for offset		3,250,920			3,209,987
Escrow deposits for legal liabilities and tax and social security contingencies (Note 12b)		9,450,640			8,774,268
Escrow deposits for legal liabilities – civil and labor (Note 12b)		4,538,941			4,486,481
Escrow deposits for foreign fund raising program		733,690			707,106
Receivables from reimbursement of contingent liabilities (Note 12c)		738,426			671,220
Sundry domestic debtors		2,297,723			1,453,156
Sundry foreign debtors		507,910			110,242
Retirement plan assets (Note 19)		2,860,193			2,141,178
Recoverable payments		30,190			38,051
Salary advances		208,512			207,302
Amounts receivable from related companies		56,416			11,924
Operations without credit granting characteristics		210,739			139,668
Securities and credits receivable		523,608			528,951
(Allowance for loan losses)		(312,869	)		(389,283	)
Other		930,080			187,872
Total		65,602,800			54,245,443

At ITAÚ UNIBANCO HOLDING, Other Sundry Receivables are basically composed of Taxes and Contributions for Offset of R$ 260,896 (R$ 153,185 at 09/30/2012) and Deferred Tax Assets of R$ 1,078,437 (R$ 1,072,951 at 09/30/2012) (Note 14b I).

b) Prepaid expenses

	09/30/2013		09/30/2012
Commissions		3,210,050		3,153,775
Related to vehicle financing		602,756		931,975
Related to insurance and pension plan		1,418,037		1,375,098
Restricted to commissions/partnership agreements		663,582		535,034
Other		525,675		311,668
Brazilian deposit guarantee fund (*)		11,996		199,180
Advertising		346,803		331,787
Other		356,643		293,769
Total		3,925,492		3,978,511

(*) Refers to spontaneous payment, equivalent to the prepayment of installments of the contribution to the Brazilian deposit guarantee fund (Fundo Garantidor de Crédito - FGC), according to BACEN Circular No. 3,416, of 10/24/2008.

c) Other sundry liabilities

	09/30/2013		09/30/2012
Provisions for contingent liabilities (Note 12b)		11,972,094		9,989,623
Provisions for sundry payments		1,939,311		1,901,358
Personnel provision		1,721,792		1,675,180
Sundry creditors - local		2,249,081		1,691,049
Sundry creditors - foreign		1,816,917		1,927,152
Liabilities for official agreements and rendering of payment services		729,000		554,725
Related to insurance operations		1,203,609		857,563
Liabilities for purchase of assets and rights		3,655		3,172
Creditors of funds to be released		1,334,816		979,472
Funds from consortia participants		27,843		84,097
Provision for Retirement Plan Benefits (Note 19)		627,939		348,435
Provision for health insurance (*)		648,076		632,641
Expenses for lease interests (Note 4i)		287,729		212,155
Other		682,686		574,405
Total		25,244,548		21,431,027

(*) Provision set up to cover possible future deficits up to the total discontinuance of the portfolio, arising from the difference of adjustments to monthly installments, authorized annually by the regulatory body, and the actual variation of hospital costs that affect the compensation of claims (Note 13i).

d) Banking service fees

	01/01 to 09/30/2013		01/01 to 09/30/2012
Asset management		2,641,025		2,232,894
Funds management fees		2,367,480		2,080,720
Consortia management fee		273,545		152,174
Current account services		544,602		453,188
Credit cards		5,535,078		4,748,607
Relationship with stores		5,464,210		4,574,652
Credit card processing		70,868		173,955
Sureties and credits granted		1,278,990		1,165,739
Loan operations		576,113		533,235
Guarantees provided		702,877		632,504
Receipt services		1,060,583		1,051,608
Collection fees		895,608		860,121
Collection services		164,975		191,487
Other		1,168,513		1,115,331
Custody services and management of portfolio		209,271		173,865
Economic and financial advisory		247,905		282,424
Foreign exchange services		74,607		76,830
Other services		636,730		582,212
Total		12,228,791		10,767,367

e) Income from bank charges

	01/01 to 09/30/2013		01/01 to 09/30/2012
Loan operations/registration		782,215		790,546
Credit cards – annual fees and other services (*)		1,619,941		1,352,986
Deposit account		94,649		111,362
Transfer of funds		126,825		115,419
Income from securities brokerage (*)		350,301		254,564
Service package fees and other		2,301,879		1,723,233
Total		5,275,810		4,348,110

(*) In compliance with BACEN Circular Letter No. 3,490.

f) Personnel expenses

	01/01 to 09/30/2013			01/01 to 09/30/2012
Compensation		(4,705,897	)		(4,352,081	)
Charges		(1,612,510	)		(1,572,154	)
Welfare benefits (Note 19)		(1,447,210	)		(949,037	)
Training		(128,244	)		(177,428	)
Labor claims and termination of employees (Note 12b)		(1,338,859	)		(1,276,759	)
Stock Option Plan		(147,337	)		(133,040	)
Total		(9,380,057	)		(8,460,499	)
Employees’ profit sharing		(1,856,617	)		(1,826,092	)
Total with employees’ profit sharing		(11,236,674	)		(10,286,591	)

g) Other administrative expenses

	01/01 to 09/30/2013			01/01 to 09/30/2012
Data processing and telecommunications		(2,661,544	)		(2,625,572	)
Depreciation and amortization		(1,388,241	)		(1,217,863	)
Installations		(1,673,767	)		(1,673,420	)
Third-party services		(2,427,884	)		(2,423,464	)
Financial system services		(342,379	)		(357,046	)
Advertising, promotions and publication		(729,413	)		(674,094	)
Transportation		(339,510	)		(376,322	)
Materials		(262,531	)		(298,436	)
Security		(408,427	)		(384,744	)
Travel expenses		(139,939	)		(139,182	)
Other		(375,699	)		(379,750	)
Total		(10,749,334	)		(10,549,893	)

h) Other operating revenue

	01/01 to 09/30/2013		01/01 to 09/30/2012
Reversal of operating provisions		38,409		17,949
Recovery of charges and expenses		35,835		46,146
Other		166,745		129,538
Total		240,989		193,633

i) Other operating expenses

	01/01 to 09/30/2013			01/01 to 09/30/2012
Provision for contingencies (Note 12b)		(1,295,868	)		(1,200,980	)
Civil lawsuits		(1,160,289	)		(1,250,805	)
Tax and social security contributions		(112,627	)		63,509
Other		(22,952	)		(13,684	)
Selling - credit cards		(1,350,167	)		(1,213,761	)
Claims		(310,769	)		(449,332	)
Provision for health insurance (Note 13c)		(13,485	)		(9,711	)
Refund of interbank costs		(183,010	)		(175,418	)
Other		(727,017	)		(695,675	)
Total		(3,880,316	)		(3,744,877	)

j) Non operating income – From 01/01 at 09/30/2012, basically composed of the result of the full disposal of investment in Banco BPI, S.A. in the amount of R$ (302,921) and due to the partial disposal of one interest in Orbitall Serviços e Processamento de Informações Comerciais S.A. in the amount of R$ (17,596).

Note 14 - Taxes

a) Composition of expenses for taxes and contributions

I - Statement of calculation with income tax and social contribution:

	01/01 to 09/30/2013			01/01 to 09/30/2012
Income before income tax and social contribution		14,169,392			13,298,602
Charges (income tax and social contribution) at the rates in effect (Note 4o)		(5,667,757	)		(5,319,441	)
Increase/decrease to income tax and social contribution charges arising from:
Investments in affiliates and jointly controlled entities		75,556			69,601
Foreign exchange variation on investments abroad		860,013			537,865
Interest on capital		1,231,717			1,377,669
Corporate reorganizations		470,889			-
Dividends and interest on external debt bonds		119,950			163,644
Other nondeductible expenses net of non taxable income		66,661			315,482
Deferred tax asset recognized from prior periods		-			324,148
Total income tax and social contribution		(2,842,971	)		(2,531,032	)

II - Composition of tax expenses:

	01/01 to 09/30/2013			01/01 to 09/30/2012
PIS and COFINS		(2,400,774	)		(2,506,234	)
ISS		(594,230	)		(477,710	)
Other		(300,585	)		(333,273	)
Total (Note 4o)		(3,295,589	)		(3,317,217	)

At ITAÚ UNIBANCO HOLDING tax expenses amount to R$ 171,431 (R$ 162,726 from 01/01 to 09/30/2012) are basically composed of PIS and COFINS.

III - Tax effects on foreign exchange management of investments abroad

In order to minimize the effects on income in connection with the foreign exchange variation on investments abroad, net of respective tax effects, ITAÚ UNIBANCO HOLDING carries out derivative transactions in foreign currency (hedge), as mentioned in Note 22b.

Results of these transactions are considered in the calculation base of income tax and social contribution, according to their nature, while the foreign exchange variation on investments abroad is not included therein, pursuant to tax legislation in force.

b) Deferred taxes

I - The deferred tax asset balance and its changes, segregated based on its origin and disbursements incurred, are represented as follows:

	Provisions				Deferred Tax Assets
	09/30/2012		09/30/2013		12/31/2012		Realization / Reversal			Effect of change in consolidation (1)		Increase		09/30/2013		09/30/2012
Reflected in income and expense accounts						31,568,064		(8,243,627	)		221,259		11,631,342		35,177,036		31,281,701
Related to income tax and social contribution loss carryforwards						3,943,862		(1,029,512	)		58,908		3,194,818		6,168,076		4,978,577
Related to disbursed provisions						18,133,301		(5,096,329	)		128,868		5,294,731		18,460,571		17,525,967
Allowance for loan losses						14,963,203		(3,919,592	)		104,201		4,602,464		15,750,276		14,508,275
Adjustment to market value of securities and derivative financial instruments (assets/liabilities)						277,873		(277,873	)		-		484,150		484,150		214,206
Allowance for real estate						62,134		(7,237	)		-		111,378		166,275		63,479
Goodwill on purchase of investments						2,695,741		(859,012	)		24,259		75,646		1,936,634		2,614,220
Other						134,350		(32,615	)		408		21,093		123,236		125,787
Related to non-disbursed provisions (2)		23,932,975		27,053,222		9,490,901		(2,117,786	)		33,483		3,141,793		10,548,389		8,777,158
Related to the operation		18,874,559		21,994,807		7,467,536		(2,117,786	)		33,483		3,141,793		8,525,024		7,057,296
Legal liabilities – tax and social security		2,992,976		3,342,231		1,645,264		(39	)		-		224,697		1,869,922		1,643,750
Provision for contingent liabilities		7,938,544		9,677,115		3,490,867		(920,370	)		14,023		1,051,488		3,636,007		2,976,410
Civil lawsuits		3,100,465		3,649,885		1,421,603		(381,855	)		5,329		395,506		1,440,583		1,222,458
Labor claims		2,845,989		3,496,537		1,229,129		(512,044	)		4,410		600,906		1,322,401		1,074,395
Tax and social security contributions		1,941,689		2,482,164		821,500		(26,371	)		4,183		55,076		854,388		660,174
Other		50,401		48,529		18,634		(100	)		101		-		18,635		19,383
Adjustments of operations carried out in futures settlement market		106,858		1,616,317		8,983		(10,034	)		-		630,953		629,902		41,457
Provision related to health insurance operations		632,641		648,076		253,837		-			-		5,394		259,231		253,056
Other non-deductible provisions		7,203,540		6,711,068		2,068,584		(1,187,343	)		19,460		1,229,261		2,129,962		2,142,623
Related to provisions exceeding the minimum required not disbursed – allowance for loan losses		5,058,415		5,058,415		2,023,365		-			-		-		2,023,365		1,719,862
Reflected in stockholders’ equity accounts
Corporate reorganizations		-		9,765,876		3,791,284		(470,886	)		-		-		3,320,398		-
Adjustment to market value of available-for-sale securities		511,020		1,608,149		148,010		(110,672	)		-		605,921		643,259		180,817
Total		24,443,995		38,427,247		35,507,358		(8,825,185	)		221,259		12,237,263		39,140,693		31,462,518
Social contribution for offset arising from Option established in article 8 of Provisional Measure No. 2,158-35 of 08/24/2001						658,941		(11,214	)		-		-		647,727		644,470

(1) Effect of change in consolidation criteria (Note 2b).

(2) From a financial point of view, rather than recording the provision of R$ 27,053,222 (R$ 23,932,975 at 09/30/2012) and deferred tax assets of R$ 10,548,389 (R$ 8,777,158 at 09/30/2012), only the net provisions of the corresponding tax effects should be considered, which would reduce the total deferred tax assets from R$ 39,140,693 (R$ 31,462,518 at 09/30/2012) to R$ 28,592,304 (R$ 22,685,360 at 09/30/2012).

At ITAÚ UNIBANCO HOLDING, the deferred tax assets totaled R$ 1,078,437 (R$ 1,072,951 at 09/30/2012) and are basically represented by legal liabilities – tax and social security of R$ 523,298 (R$ 415,160 at 09/30/2012), which expected realization is dependent upon the progress of the lawsuit, and tax loss of R$ 551,567 (R$ 531,787 at 09/30/2012).

II - Provision for Deferred Income Tax and Social Contribution balance and its changes are shown as follows:

	12/31/2012		Realization / Reversal			Increase (1)		09/30/2013		09/30/2012
Reflected in income and expense accounts		7,993,028		(2,434,535	)		1,977,012		7,535,505		8,439,259
Depreciation in excess – leasing		5,452,529		(2,068,098	)		1,352,817		4,737,248		5,921,881
Restatement of escrow deposits and contingent liabilities		1,044,702		(140,589	)		212,342		1,116,455		1,048,711
Provision for pension plan benefits		915,252		-			3,994		919,246		751,740
Adjustment to market value of securities and derivative financial instruments		186,037		(186,037	)		156,968		156,968		331,713
Adjustments of operations carried out in future settlement market		116,918		-			246,579		363,497		115,002
Taxation of results abroad – capital gains		96,426		-			4,312		100,738		92,954
Other		181,164		(39,811	)		-		141,353		177,258
Reflected in stockholders’ equity accounts		1,142,821		(1,023,951	)		18,333		137,203		998,130
Adjustment to market value of available-for-sale securities		1,142,821		(1,023,951	)		8,623		127,493		998,130
Provision for pension plan benefits (2)		-		-			9,710		9,710		-
Total		9,135,849		(3,458,486	)		1,995,345		7,672,708		9,437,389

(1) Effect of change in consolidation criteria (Note 2b) in the amount of R$ 2,079, refering to restatement of escrow deposits and contingent liabilities.

(2) Reflected in stockholders' equity, pursuant to CVM Resolution nº 695/12 (Note 19).

At ITAÚ UNIBANCO HOLDING, the provision for deferred income tax and social contribution totals R$ 3,936 (R$ 4,441 at 09/30/2012), basically represented by restatement of escrow deposits and contingent liabilities.

III - The estimate of realization and present value of deferred tax assets and social contribution for offset, arising from Provisional Measure No. 2,158-35 of August 24, 2001 and from the Provision for Deferred Income Tax and Social Contribution existing at September 30, 2013, in accordance with the expected generation of future taxable income, based on the history of profitability and technical feasibility studies, are:

	Deferred tax assets																				Provision for deferred
	Temporary differences		%			Tax loss/social contribution loss carryforwards		%			Total		%			Social contribution for offset		%			income tax and social contribution			%			Net deferred taxes		%
2013		8,514,346		26	%		840,753		13	%		9,355,099		24	%		16		0	%		(1,115,415	)		15	%		8,239,700		26	%
2014		6,090,448		19	%		1,413,118		23	%		7,503,566		19	%		170,088		26	%		(2,099,487	)		27	%		5,574,167		17	%
2015		6,201,431		19	%		1,018,199		17	%		7,219,630		19	%		193,176		30	%		(2,018,008	)		26	%		5,394,798		17	%
2016		3,663,681		11	%		1,527,763		25	%		5,191,444		13	%		284,447		44	%		(1,073,066	)		14	%		4,402,825		14	%
2017		2,759,256		8	%		1,225,862		20	%		3,985,118		10	%		-		0	%		(315,296	)		4	%		3,669,822		11	%
after 2017		5,743,455		17	%		142,381		2	%		5,885,836		15	%		-		0	%		(1,051,436	)		14	%		4,834,400		15	%
Total		32,972,617		100	%		6,168,076		100	%		39,140,693		100	%		647,727		100	%		(7,672,708	)		100	%		32,115,712		100	%
Present value (*)		29,591,392					5,612,391					35,203,783					589,613					(6,923,861	)					28,869,535

(*) The average funding rate, net of tax effects, was used to determine the present value.

The projections of future taxable income include estimates related to macroeconomic variables, exchange rates, interest rates, volume of financial operations and services fees and others which can vary in relation to actual data and amounts.

Net income in the financial statements is not directly related to taxable income for income tax and social contribution, due to differences existing between accounting criteria and tax legislation, besides corporate aspects. Accordingly, we recommend that the trend of the realization of deferred tax assets arising from temporary differences, income tax and social contribution loss carryforwards be not used as an indication of future net income.

IV- In view of the unconstitutionality lawsuit related to the increase in the social contribution rate, established by Articles 17 and 41 of Law No. 11,727 of June 24, 2008, filed on June 26, 2008 by the National Confederation of the Financial System (CONSIF), at 09/30/2012 deferred tax assets were recorded up to the amount added to the tax liabilities, while the amount of R$ 548,992 at the mentioned date. At 09/30/2013 there are none deferred tax assets unrecorded.

c) Tax and social security contributions

	09/30/2013		09/30/2012
Taxes and contributions on income payable		3,769,798		3,430,481
Taxes and contributions payable		1,413,320		1,257,600
Provision for deferred income tax and social contribution (Note 14b II)		7,672,708		9,437,389
Legal liabilities – tax and social security (Note 12b)		7,756,896		7,290,675
Total		20,612,722		21,416,145

At ITAÚ UNIBANCO HOLDING, the balance of Tax and Social Security Contributions totals R$ 1,448,413 (R$ 1,030,904 at 09/30/2012) and is basically comprised of Legal Liabilities - Tax and Social Security of R$ 1,211,977 (R$ 940,949 at 09/30/2012), whose nature refers to PIS and COFINS – Calculation basis: we are claiming that those contributions on revenue should be applied only to the revenue from sales of assets and services.

d) Taxes paid or provided for and withheld from third parties

The amount of taxes paid or provided for is basically levied on income, revenue and payroll. In relation to the amounts withheld and collected from third parties, the company takes into consideration the interest on capital and on the service provision, in addition to that levied on financial operation.

	09/30/2013		09/30/2012
Taxes paid or provided for		12,233,129		12,617,698
Taxes withheld and collected from third parties		7,808,565		9,397,799
Total		20,041,694		22,015,497

Note 15 – Permanent Assets

a) Investment

I - Change of relevant investments - ITAÚ UNIBANCO HOLDING

Companies		Balances at 12/31/2012		Amortization of goodwill			Subscriptions / acquisitions / sales		Dividends / interest on capital paid/provided for (1)			Equity in earnings of subsidiaries (2)			Adjustments in marketable securities of subsidiaries and other			Balance at 09/30/2013		Balance at 09/30/2012		Equity in earnings of subsidiaries from 01/01 to 09/30/2012
Domestic			54,683,079		(4,752	)		318		(6,233,221	)		5,595,511			(2,306,308	)		51,734,627		54,057,764		5,809,660
Itaú Unibanco S.A.	(3a)(4a)(5a)		45,058,817		(4,752	)		-		(3,284,596	)		3,008,623			(2,051,355	)		42,726,737		44,400,735		2,339,118
Banco Itaú BBA S.A.	(5b)		6,235,591		-			-		(799,610	)		1,295,705			(254,209	)		6,477,477		6,339,058		1,089,095
Banco Itaucard S.A.	(4b)(5c)(6)		2,463,241		-			300		(2,151,873	)		1,077,610			(741	)		1,388,537		2,323,080		2,127,733
Itaú Corretora de Valores S.A.	(6)		879,321		-			-		-			212,174			(3	)		1,091,492		944,790		251,591
Itaú BBA Participações S.A.			46,107		-			-		2,858			1,398			-			50,363		50,101		2,079
Itaú Seguros S.A.	(7)		-		-			18		-			1			-			19		-		-
Itaú Soluções Previdenciárias Ltda.			2		-			-		-			-			-			2		-		-
Redecard S.A.			-		-			-		-			-			-			-		-		44
Foreign			3,548,367		(38,556	)		259,667		(21,249	)		537,966			(16,031	)		4,270,164		3,144,714		423,933
Itau Chile Holdings, INC.	(3b)		2,982,642		(33,931	)		200,510		-			353,381			3,053			3,505,655		2,628,580		288,969
Banco Itau Uruguay S.A.	(3c)		390,621		(3,534	)		59,157		-			127,199			(19,084	)		554,359		359,839		91,851
OCA S.A.	(3d)		127,657		(939	)		-		(21,249	)		53,257			-			158,726		111,641		38,294
OCA Casa Financeira S.A.	(3e)		44,369		(136	)		-		-			4,163			-			48,396		41,877		4,670
ACO Ltda.	(3f)		3,078		(16	)		-		-			(34	)		-			3,028		2,777		149
Grand total			58,231,446		(43,308	)		259,985		(6,254,470	)		6,133,477			(2,322,339	)		56,004,791		57,202,478		6,233,593

(1) Dividends approved and not paid are recorded as Dividends receivable.

(2) At September 30, 2013, includes foreign exchange variation in the amount of R$ 253,375;

(3) At September 30, 2013, includes goodwill in the amounts of (a) R$ 32,206; (b) R$ 147,035; (c) R$ 15,313; (d) R$ 4,070; (e) R$ 591; (f) R$ 71;

(4) At September 30, 2013, includes Adjustments of unrealized results in the results of operations and in investments, respectively, in the amounts of: (a) R$ 81.943 and R$ (573,670); (b) R$ 20,621 and R$ (3,962).

(5) At September 30, 2013, includes adjustments to standardize procedures under the scope of the investor in the results of operations and investments, respectively, in the amounts of: (a) R$ (10,738) and R$ (31,211); (b) R$ 7,198 and R$ (40,395); and (c) R$ (436) and R$ (3,328).

(6) The investment and the equity in earnings reflect the different interest in preferred shares, profit sharing and dividends.

(7) On May 31, 2013, Itaú Unibanco Holding acquired equity securities of Itaú Seguros.

			Stockholders’		Net income		Number of shares/quotas owned by ITAÚ UNIBANCO HOLDING						Equity share in		Equity share in
Companies	Capital		equity		for the period		Common		Preferred		Quotas		voting capital (%)		capital (%)
Domestic
Itaú Unibanco S.A.		39,676,320		43,250,267		2,937,428		2,081,169,523		2,014,258,290		-		100.00		100.00
Banco Itaú BBA S.A.		4,224,086		6,517,872		1,288,507		5,284,526		5,284,526		-		99.99		99.99
Banco Itaucard S.A.		15,564,076		17,777,739		1,169,409		3,596,744,163		1,277,933,118		-		1.51		2.04
Itaú Corretora de Valores S.A.		1,046,841		2,304,532		234,845		-		811,503		-		-		1.94
Itaú BBA Participações S.A.		35,196		50,363		1,398		12,953		25,906		-		100.00		100.00
Itaú Seguros S.A.		5,414,295		8,084,349		584,489		450		1		-		0.00		0.00
Itaú Soluções Previdenciárias Ltda.		306,880		340,796		13,934		-		-		22		0.00		0.00
Foreign
Itau Chile Holdings, INC.		2,893,913		3,358,620		65,041		100		-		-		100.00		100.00
Banco Itau Uruguay S.A.		326,662		539,046		152,330		3,193,173,911		-		-		100.00		100.00
OCA S.A.		15,367		154,656		60,570		1,502,176,740		-		-		100.00		100.00
OCA Casa Financeira S.A.		19,832		47,805		6,541		646		-		-		100.00		100.00
ACO Ltda.		14		2,980		110		-		-		131		99.24		99.24

II - Composition of investments

	09/30/2013			09/30/2012
Investment in affiliates and jointly controlled entities		2,345,214			2,365,544
Domestic		2,267,520			2,364,623
Porto Seguro Itaú Unibanco Participações S.A. (*)		1,359,779			1,254,314
BSF Holding S.A.		846,906			821,531
Tecnologia Bancária S.A. (*)		57,680			44,059
Serasa S.A.		-			244,642
Other		3,155			77
Foreign		77,694			921
MCC Securities Inc. (Note 2b)		58,040			-
MCC Corredora de Bolsa (Note 2b)		15,132			-
Other		4,522			921
Other investments		996,570			1,163,906
Investments through tax incentives		169,646			170,245
Equity securities		12,885			12,804
Shares and quotas		247,929			277,080
Interest in Instituto de Resseguros do Brasil - IRB		229,526			227,170
Other		336,584			476,607
(Allowance for loan losses)		(273,788	)		(205,292	)
Total		3,067,996			3,324,158

(*) For the purpose of accounting for participation in earnings, the position at 08/31/2013 was used, as provided in Circular Letter nº 1,963 of 05/23/1991, of BACEN;

III - Equity in earnings of affiliates, jointly controlled entities and other investments

	01/01 to 09/30/2013			01/01 to 09/30/2012
Investment in affiliates and jointly controlled entities – domestic		231,117			196,877
Investment in affiliates and jointly controlled entities – foreign		3,247			(101,525	)
Dividends received from other investments		36,448			88,966
Result non arising from income controlled companies		(6,118	)		5,560
Total		264,694			189,878

b) Fixed assets, goodwill and intangible assets

I) Fixed assets

	Real Estate in Use (2) (3)						Other Fixed Assets (3)
Real estate in use (1)	Land			Buildings			Improvements			Installations			Furniture and equipment			EDP Systems (4)			Other (comunication, security and transportation)			Total
Annual depreciation rates					4	%		10	%		10 to 20%			10 to 20%			20 to 50%			10 to 20%
Cost
Balances at 12/31/2012		959,160			2,471,850			1,252,190			871,511			928,553			5,490,063			607,655			12,580,982
Acquisitions		77			420,559			112,242			108,214			108,264			901,235			56,908			1,707,499
Disposals		(7,793	)		(12,926	)		(187,406	)		(5,436	)		(10,593	)		(361,884	)		(2,140	)		(588,178	)
Exchange variation		228			2,115			10,164			(213	)		174			(6,112	)		557			6,913
Other (5)		(1,852	)		(16,898	)		16,152			(383	)		(22,847	)		8,546			(4,013	)		(21,295	)
Balance at 09/30/2013		949,820			2,864,700			1,203,342			973,693			1,003,551			6,031,848			658,967			13,685,921
Depreciation
Balances at 12/31/2012		-			(1,607,294	)		(613,085	)		(357,777	)		(416,542	)		(3,663,894	)		(347,756	)		(7,006,348	)
Depreciation expenses		-			(54,665	)		(181,526	)		(58,622	)		(61,206	)		(723,000	)		(46,917	)		(1,125,936	)
Disposals		-			9,995			187,406			3,533			4,958			341,120			1,719			548,731
Exchange variation		-			734			(2,749	)		2,346			9,243			(5,011	)		202			4,765
Other (5)		-			15,590			238			(11,783	)		3,202			943			2,094			10,284
Balance at 09/30/2013		-			(1,635,640	)		(609,716	)		(422,303	)		(460,345	)		(4,049,842	)		(390,658	)		(7,568,504	)
Impairment
Balances at 12/31/2012		-			-			-			-			(8,933	)		-			-			(8,933	)
Additions/ assumptions		-			-			-			-			-			-			-			-
Reversals		-			-			-			-			-			-			-			-
Balance at 09/30/2013		-			-			-			-			(8,933	)		-			-			(8,933	)
Book value
Balance at 09/30/2013		949,820			1,229,060			593,626			551,390			534,273			1,982,006			268,309			6,108,484
Balance at 09/30/2012		969,207			804,065			641,221			472,704			496,653			1,695,877			250,386			5,330,113

(1) There are no contractual commitments for purchase of new fixed assets.

(2) Includes amounts pledged in guarantee of voluntary deposits (Nota 12b).

(3) Includes the amount of R$ 3,527 related to attached real estate; fixed assets under construction in the amount of R$ 753,703, consisting of R$ 637,455 in real estate in use; R$ 12,905 in improvements, and R$ 103,343 in equipment.

(4) Includes lease contracts, mainly related to data processing equipment, which are accounted for as finance leases. Pursuant to this method, assets and liabilities are accounted for in the financial statements, and assets are depreciated consistently with the depreciation criteria usually adopted for own assets. These contracts amount to R$ 262,885 at 09/30/2013.

(5) Basically includes the effect of change in consolidation criteria (Note 2b) in the amount of R$ 8,086.

II) Goodwill

				Changes
	Amortization period	Balances at 12/31/2012		Acquisitions		Amortization expenses			Impairment		Disposals (*)			Balance at 09/30/2013		Balance at 09/30/2012
Goodwill (Notes 2b and 4j)	10 years		101,424		1,850		(3,231	)		-		(55,060	)		44,983		10,068,929

(*) Disposals relating to goodwill recorded in the acquisition of participation in companies MCC Securities and MCC Corredora, joint ventures previously proportionately consolidated, became registered as participation in earnings as of 01/01/2013.

III) Intangible assets

				Other intangible assets
Intangible (1)	Rights for aquisition of payroll (2)			Association for the promotion and offer of financial products and services			Acquisition of software			Development of software			Goodwill on Acqusition (Note 4k)			Other Intangible Assets			Total
Annual amortization rates		20	%		8	%		20	%		20	%		20	%		10 to 20%
Cost
Balances at 12/31/2012		1,497,576			1,319,266			1,495,310			1,553,482			24,699			610,067			6,500,400
Acquisitions		137,686			245,267			294,569			614,787			-			-			1,292,309
Disposals		(418,472	)		(22,692	)		(85,801	)		(49,872	)		-			(1,323	)		(578,160	)
Exchange variation		-			751			(11,127	)		-			-			24,583			14,207
Other (3)		-			110,682			16,851			-			(3,087	)		5			124,451
Balance at 09/30/2013		1,216,790			1,653,274			1,709,802			2,118,397			21,612			633,332			7,353,207
Amortization
Balances at 12/31/2012		(781,122	)		(176,423	)		(658,469	)		(10,792	)		(9,211	)		(253,666	)		(1,889,683	)
Amortization expenses (4)		(212,407	)		(99,925	)		(211,742	)		(25,312	)		(3,242	)		(50,133	)		(602,761	)
Disposals		410,354			15,259			85,801			-			-			1,323			512,737
Exchange variation		-			(95	)		14,925			-			-			(14,342	)		488
Other (3)		-			(9,810	)		(650	)		-			3,087			(4	)		(7,377	)
Balance at 09/30/2013		(583,175	)		(270,994	)		(770,135	)		(36,104	)		(9,366	)		(316,822	)		(1,986,596	)
Impairment (5)
Balances at 12/31/2012		(18,251	)		(3,402	)		-			-			-			-			(21,653	)
Additions/ assumptions		-			(1,792	)		-			-			-			-			(1,792	)
Reversals		-			-			-			-			-			-			-
Balance at 09/30/2013		(18,251	)		(5,194	)		-			-			-			-			(23,445	)
Book value
Balance at 09/30/2013		615,364			1,377,086			939,667			2,082,293			12,246			316,510			5,343,166
Balance at 09/30/2012		661,278			1,196,244			808,689			1,369,356			16,569			372,130			4,424,266

(1) There are no contractual commitments for purchase of new intangible assets.

(2) Represents the recording of amounts paid for acquisition of rights to provide services of payment of salaries, proceeds, retirement and pension benefits, and similar benefits.

(3) Basically includes the effect of change in consolidation criteria (Note 2b) in the amount of R$ 99,703.

(4) Amortization expenses of the rights for acquisition of payrolls and associations are disclosed in the expenses on financial operations.

(5) Pursuant to BACEN Resolution No. 3,566, of May 29, 2001 (Note 13i).

Note 16 – Stockholders' equity

a) Shares

The Extraordinary Stockholders’ Meeting of April 19, 2013 approved the increase of subscribed and paid-up capital by R$ 15,000,000, with the capitalization of the amounts recorded in Revenue Reserve – Statutory Reserve, with a 10% bonus shares. Bonus shares started being traded on May 21, 2013 and the process was approved by the Central Bank on May 6, 2013. Accordingly, capital stock was increased by 457,093,610 shares.

Capital comprises 5,028,029,710 book-entry shares with no par value, of which 2,518,215,040 are common and 2,509,814,670 are preferred shares without voting rights, but with tag-along rights, in the event of the public offer of common shares, at a price equal to 80% of the amount paid per share with voting rights in the controlling stake, as well as a dividend at least equal to that of the common shares. Capital stock amounts to R$ 60,000,000 (R$ 45,000,000 at 09/30/2012), of which R$ 41,652,325 (R$ 31,108,373 at 09/30/2012) refers to stockholders domiciled in the country and R$ 18,347,675 (R$ 13,891,627 at 09/30/2012) refers to stockholders domiciled abroad.

The table below shows the change in shares of capital stock and treasury shares during the period:

	Number
	Common		Preferred			Total			Amount
Residents in Brazil at 12/31/2012		2,280,400,056		884,649,441			3,165,049,497
Residents abroad at 12/31/2012		8,886,344		1,397,000,259			1,405,886,603
Shares of capital stock at 12/31/2012		2,289,286,400		2,281,649,700			4,570,936,100
Bonus shares - Extraordinary Stockholders’ Meeting of April 19, 2013 – Made effective on May 21, 2013		228,928,640		228,164,970			457,093,610
Shares of capital stock at 09/30/2013		2,518,215,040		2,509,814,670			5,028,029,710
Residents in Brazil at 09/30/2013		2,502,347,646		988,137,793			3,490,485,439
Residents abroad at 09/30/2013		15,867,394		1,521,676,877			1,537,544,271
Treasury shares at 12/31/2012		2,100		52,554,239			52,556,339			(1,523,500	)
Purchase of treasury shares		-		23,500,000			23,500,000			(662,215	)
Exercised – granting of stock options		-		(5,060,775	)		(5,060,775	)		39,319
Disposals – stock option plan		-		(4,477,121	)		(4,477,121	)		228,516
Bonus shares - Extraordinary Stockholders’ Meeting of April 19, 2013 – Made effective on May 21, 2013		210		4,706,907			4,707,117
Treasury shares at 09/30/2013 (1)		2,310		71,223,250			71,225,560			(1,917,880	)
Outstanding shares at 09/30/2013		2,518,212,730		2,438,591,420			4,956,804,150
Outstanding shares at 09/30/2012 (2)		2,518,212,730		2,451,855,761			4,970,068,491

(1) Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury for subsequent cancellation or replacement in the market.

(2) For better comparability, outstanding shares for the period ending September 30, 2012 were adjusted for the bonus of May 21, 2013.

We detail below the average cost of treasury shares and their market price at September 30, 2013:

Cost/Market value	Common		Preferred
Minimum		-		26.36
Weighted average		-		28.18
Maximum		-		29.24
Treasury shares
Average cost		8.77		26.93
Market value		30.15		31.46

b) Dividends

Stockholders are entitled to a mandatory dividend of not less than 25% of annual net income, which is adjusted according to the rules set forth in Brazilian Corporate Law. Both types of shares participate equally, after common shares have received dividends equal to the annual minimum priority dividend of R$ 0.022 per share to be paid to preferred shares.

The calculation of the monthly advance of mandatory minimum dividend is based on the share position on the last day of the prior month, taking into consideration that the payment is made on the first business day of the subsequent month, in the amount of R$ 0.015 per share.

I - Calculation

Net income	8,053,240
Adjustments:
(-) Legal reserve	(402,662	)
Dividend calculation basis	7,650,578
Mandatory dividend	1,912,644
Dividend – paid/provided for	1,912,644		25.0	%

II – Payments/provision of interest on capital and dividends

	Gross		WTS			Net
Paid / Prepaid		1,938,819		(206,423	)		1,732,396
Dividends - 8 monthly installments of R$ 0.015 per share paid in February to September 2013		562,667		-			562,667
Interest on capital - R$ 0.2774 per share, paid on 08/21/2013		1,376,152		(206,423	)		1,169,729
Provision (recorded in other liabilities – Social and Statutory)		198,941		(18,693	)		180,248
Dividends - 1 monthly installment of R$ 0.015 per share paid on 10/01/2013		74,321		-			74,321
Interest on capital - R$ 0.0251 per share		124,620		(18,693	)		105,927
Total from 01/01 to 09/30/2013 - R$ 0.3921 net per share		2,137,760		(225,116	)		1,912,644
Total from 01/01 to 09/30/2012 - R$ 0.3942 net per share		2,201,800		(242,854	)		1,958,946

c) Capital and revenue reserves

	09/30/2013		09/30/2012
Capital reserves		854,358		812,352
Premium on subscription of shares		283,512		283,512
Granted options recognized – Law No. 11,638 and Share-based instruments		569,741		527,735
Reserves from tax incentives and restatement of equity securities and other		1,105		1,105
Revenue reserves		29,213,757		38,685,639
Legal		4,790,665		4,260,435
Statutory:		24,423,092		34,425,204
Dividends equalization (1)		8,866,267		10,291,315
Working capital increase (2)		6,652,127		10,381,519
Increase in capital of investees (3)		8,904,698		13,752,370

(1) Reserve for Dividends Equalization – its purpose is to guarantee funds for the payment of advances of dividends, including interest on capital, to maintain the flow of the stockholders’ compensation.

(2) Reserve for Working Capital Increase – its purpose is to guarantee funds for the company’s operations.

(3) Reserve for Increase in Capital of Investees – its purpose is to guarantee the preferred subscription right in the capital increases of investees.

d) Conciliation of net income and stockholders’ equity (Note 2b)

	Net income				Stockholders’ equity
	01/01 to 09/30/2013		01/01 to 09/30/2012		09/30/2013			09/30/2012
ITAÚ UNIBANCO HOLDING		8,053,240		8,248,192		87,334,784			84,160,377
Amortization of goodwill		1,611,738		1,853,953		(2,629,678	)		(5,181,866	)
Corporate reorganizations		1,384,959		-		(6,445,479	)		-
ITAÚ UNIBANCO HOLDING CONSOLIDATED		11,049,937		10,102,145		78,259,627			78,978,511

e) Minority interest in subsidiaries

	Stockholders’ equity				Net Income
	09/30/2013		09/30/2012		01/01 to 09/30/2013			01/01 to 09/30/2012
Itau Bank, Ltd. (1)		876,589		798,296		-			-
Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento (Note 2b)		348,094		-		(41,446	)		-
Banco Itaú BMG Consignado S.A. (Note 2b)		295,053		-		8,124			-
Luizacred S.A. Soc. Cred. Financiamento Investimento (Note 2b)		213,554		-		(47,886	)		-
IGA Participações S.A. (2)		50,781		55,421		(1,306	)		(1,499	)
Investimentos Bemge S.A.		20,487		19,546		(731	)		(809	)
Banco Investcred Unibanco S.A. (Note 2b)		19,111		-		(539	)		-
Biogeração de Energia S.A.		10,711		9,335		(4,599	)		(3,053	)
Redecard S.A.		-		110,381		-			(517,427	)
Biu Participações S.A. (Note 2b)		-		119,716		-			(16,066	)
Outras		7,377		8,590		(6,352	)		(3,599	)
Total		1,841,757		1,121,285		(94,735	)		(542,453	)

(1) Represented by redeemable preferred shares issued on December 31, 2002 by Itau Bank Ltd., in the amount of US$ 393,072, with maturity on March 31, 2015 and semiannual dividends calculated based on LIBOR plus 1.25% p.a..

(2) New company name of Itaú Gestão de Ativos S.A.

f) Stock option plan

I – Purpose and guidelines of the plan

The ITAÚ UNIBANCO HOLDING has a stock option plan for its executives. This program aims at involving the management members in the medium and long-term corporate development process, by granting simple stock options or partner options, personal, not pledgeable or transferable, which entitle to the subscription of one authorized capital share or, at the discretion of the management, one treasury share which has been acquired for replacement purposes.

Such options may only be granted in years in which there are sufficient profits to enable the distribution of mandatory dividends to stockholders and at a quantity that does not exceed the limit of 0.5% of the total shares held by the stockholders at the base date of the year-end balance sheet. The ITAÚ UNIBANCO HOLDING’s Personnel Committee is responsible for defining the total quantity, the beneficiaries, the type of option, the life of the option under each series, which may range from a minimum of 5 and a maximum of 10 years, and the vesting period for exercising the options and the period the acquired shares are unavailable due to the exercise of the options. The executive officers and Board of Directors members of ITAÚ UNIBANCO HOLDING and of its subsidiaries and employees may participate in this program, based on assessment of potential and performance.

Currently, ITAÚ UNIBANCO HOLDING settles the benefits under this PLAN only by delivering its own shares, which are held in treasury until the effective exercise of the options by the beneficiaries.

II - Characteristics of the programs

II.I – Simple options

Prior programs

Before the merger, Itaú and Unibanco each had Stock Option Plans (Prior Programs). The eligible beneficiaries of the program were granted simple options, depending upon the individual employee performance. The exercise price is calculated based on the average prices of preferred shares at the BM&FBOVESPA trading sessions over the period of at least one (1) and at the most three (3) months prior to the option issue date; alternatively, subject to the positive or negative adjustment of up to 20%, and restated until the last business day of the month prior to the option exercise date based either on the IGP-M or IPCA, in its absence, based on the index determined by the committee. Options are no longer granted under this model.

Post-merger program

The eligible beneficiaries of the program are granted simple options, dependent upon the individual employee performance. The exercise price is calculated based on the average prices of preferred shares at the BM&FBOVESPA in the last three months of the year prior to the granting date or, alternatively, subject to the positive or negative adjustment of up to 20%. The exercise price is adjusted based on the IGPM or, in its absence, based on the index determined by the committee.

The vesting period is from one (1) to seven (7) years, counted from the issue date.

II.II – Partners plan

Executives selected to participate in the program may invest a percentage of their bonus to acquire shares or they have the right to receive shares (“Share-Based Instrument”). Title to the shares acquired, as well as the share-based instruments, should be held by the executives for a period of 3 to 5 years and they are subject to market fluctuation. At the time they acquire own shares and/or share-based instruments, Partner Options are granted in accordance with the classification of executives. Vesting period of Partners Options or share-based instruments is from 1 to 7 years. Share-based instruments and Partner options are converted into own shares of ITAÚ UNIBANCO HOLDING in the ratio of one preferred share for each instrument after the respective vesting period, with no payment of amounts in legal tender during the exercise.

The acquisition price of own shares and Share-Based Instruments is established every six months and it is equivalent to the average preferred share quotation at the BM&FBOVESPA trading sessions in the 30 days prior to the determination of said price.

Title to the shares received after the vesting period of the Partners Options should be held, without any liens or encumbrances, for periods from 5 to 8 years, counted from the date of acquisition of own shares.

The weighted average fair value of the Share-Based Instruments at the granting date was estimated for the shares purchased in the period ended September 30, 2013 – R$ 34.66 per share (at September 30, 2012 - R$ 36.00 per share).

The fair value of the Share-Based Instruments is the market price quoted at the granting date for preferred shares of ITAÚ UNIBANCO HOLDING less the cash price paid by the beneficiaries. Amount received for the purchase of Share-Based Instruments for the period ended September 30, 2013 - R$ 15,215 (at September 30, 2012 - R$ 50,361).

Summary of changes in the plan

							Restated		Exercised options				Number of shares
Granting			Vesting period		Exercise		exercise		Weighted average		Weighted average		Prior balance							Forfeited (*) /			To be exercised at		To be exercised at
No.	Date		until		until		price (R$ 1)		exercise price		market price		12/31/2012		Granted		Exercised			cancelled			09/30/2013		09/30/2012
Simple options
12th		02/21/2006		12/31/2010		12/31/2013		28.19		27.83		34.09		5,398,671		-		(772,435	)		(30,250	)		4,595,986		5,398,671
12th		08/06/2007		12/31/2010		12/31/2013		28.19		-		-		17,454		-		-			-			17,454		17,454
16th		08/10/2009		12/31/2010		12/31/2014		32.05		31.57		35.99		961,583		-		(11,000	)		-			950,583		961,583
13th		02/14/2007		12/31/2011		12/31/2014		35.89		-		-		6,866,761		-		-			(367,538	)		6,499,223		6,974,147
13th		08/06/2007		12/31/2011		12/31/2014		35.89		-		-		33,714		-		-			-			33,714		33,714
13th		10/28/2009		12/31/2011		12/31/2014		35.89		-		-		50,549		-		-			-			50,549		50,549
34th		03/21/2007		03/21/2012		03/20/2013		36.08		-		-		83,491		-		-			(83,491	)		-		83,491
35th		03/22/2007		03/22/2012		03/21/2013		36.05		-		-		32,465		-		-			(32,465	)		-		32,465
36th		05/14/2008		05/14/2012		05/13/2013		45.23		-		-		27,830		-		-			(27,830	)		-		27,830
17th		09/23/2009		09/23/2012		12/31/2014		37.03		-		-		32,506		-		-			-			32,506		32,506
14th		02/11/2008		12/31/2012		12/31/2015		41.38		-		-		7,885,831		-		-			(348,438	)		7,537,393		8,014,539
14th		05/05/2008		12/31/2012		12/31/2015		41.38		-		-		22,688		-		-			-			22,688		22,688
14th		10/28/2009		12/31/2012		12/31/2015		41.38		-		-		50,549		-		-			-			50,549		50,549
36th		05/14/2008		05/14/2013		05/13/2014		45.73		-		-		27,830		-		-			-			27,830		27,830
Quantity of options exercisable at the end of the period										27.88		34.12		21,491,922		-		(783,435	)		(890,012	)		19,818,475		21,728,017
15th		03/03/2009		12/31/2013		12/31/2016		27.26		26.69		34.11		13,904,836		-		(654,731	)		(104,423	)		13,145,682		13,904,836
15th		10/28/2009		12/31/2013		12/31/2016		27.06		-		-		50,549		-		-			-			50,549		50,549
18th		04/17/2010		12/31/2014		12/31/2017		43.96		-		-		6,526,309		-		-			(38,687	)		6,487,622		6,621,140
18th		05/11/2010		12/31/2014		12/31/2017		43.96		-		-		1,225,390		-		-			(45,544	)		1,179,846		1,239,725
37th		04/19/2011		12/31/2015		12/31/2018		42.94		-		-		10,562,458		-		-			(112,308	)		10,450,150		10,632,885
37th		01/13/2012		12/31/2015		12/31/2018		42.94		-		-		16,921		-		-			-			16,921		16,921
38th		01/13/2012		12/31/2016		12/31/2019		32.11		-		-		16,607		-		-			(2,802	)		13,805		16,607
38th		04/27/2012		12/31/2016		12/31/2019		32.11		-		-		11,366,754		-		-			(101,325	)		11,265,429		11,385,364
Total options outstanding not exercisable										26.69		34.11		43,669,824		-		(654,731	)		(405,089	)		42,610,004		43,868,027
Total simple options outstanding										27.34		34.11		65,161,746		-		(1,438,166	)		(1,295,101	)		62,428,479		65,596,044
Partners options
3rd		02/29/2008		09/03/2012		-		-		-		28.41		36,821		-		(36,821	)		-			-		36,821
4th		03/03/2008		03/03/2013		-		-		-		34.25		410,238		-		(410,238	)		-			-		426,322
8th		08/17/2010		08/16/2013		-		-		-		29.20		361,356		-		(355,192	)		(6,164	)		-		361,356
9th		08/30/2010		08/16/2013		-		-		-		29.20		354,151		-		(347,250	)		(6,901	)		-		356,859
11th		09/30/2010		08/16/2013		-		-		-		31.59		19,485		-		(19,485	)		-			-		19,485
5th		09/03/2008		09/03/2013		-		-		-		29.27		464,821		-		(456,304	)		(8,517	)		-		487,545
10th		09/30/2010		09/29/2013		-		-		-		31.45		1,995,832		-		(1,982,509	)		(13,323	)		-		2,003,540
Quantity of options exercisable at the end of the period										-		31.03		3,642,704		-		(3,607,799	)		(34,905	)		-		3,691,928
17th		06/14/2012		02/27/2014		-		-		-		-		8,570		-		-			-			8,570		8,570
12th		02/28/2011		02/28/2014		-		-		-		-		1,683,445		-		-			(20,659	)		1,662,786		1,686,845
6th		03/06/2009		03/06/2014		-		-		-		27.85		725,342		-		(14,810	)		(13,301	)		697,231		762,529
7th		06/19/2009		03/06/2014		-		-		-		-		87,390		-		-			-			87,390		87,390
14th		11/04/2011		08/18/2014		-		-		-		-		559		-		-			-			559		559
17th		06/14/2012		08/18/2014		-		-		-		-		2,780		-		-			-			2,780		2,780
13th		08/19/2011		08/19/2014		-		-		-		-		755,440		-		-			(23,139	)		732,301		755,440
17th		06/14/2012		02/23/2015		-		-		-		-		9,005		-		-			-			9,005		9,005
15th		02/24/2012		02/24/2015		-		-		-		-		1,729,295		-		-			(39,314	)		1,689,981		1,734,436
16th		02/24/2012		02/24/2015		-		-		-		-		76,072		-		-			-			76,072		76,072
8th		08/17/2010		08/16/2015		-		-		-		-		360,151		-		-			(13,794	)		346,357		360,151
9th		08/30/2010		08/16/2015		-		-		-		-		353,341		-		-			(14,493	)		338,848		356,051
11th		09/30/2010		08/16/2015		-		-		-		-		19,481		-		-			-			19,481		19,481
10th		09/30/2010		09/29/2015		-		-		-		-		1,989,317		-		-			(28,050	)		1,961,267		1,997,024
18th		02/27/2013		02/26/2016		-		-		-		-		-		2,598,040		-			(20,130	)		2,577,910		-
17th		06/14/2012		02/27/2016		-		-		-		-		8,569		-		-			-			8,569		8,569
12th		02/28/2011		02/28/2016		-		-		-		-		1,680,447		-		-			(33,954	)		1,646,493		1,683,848
14th		11/04/2011		08/18/2016		-		-		-		-		559		-		-			-			559		559
17th		06/14/2012		08/18/2016		-		-		-		-		2,780		-		-			-			2,780		2,780
13th		08/19/2011		08/19/2016		-		-		-		-		754,954		-		-			(31,419	)		723,535		754,954
17th		06/14/2012		02/23/2017		-		-		-		-		9,005		-		-			-			9,005		9,005
15th		02/24/2012		02/24/2017		-		-		-		-		1,728,899		-		-			(46,322	)		1,682,577		1,734,124
16th		02/24/2012		02/24/2017		-		-		-		-		76,066		-		-			-			76,066		76,066
18th		02/27/2013		02/26/2018		-		-		-		-		-		2,597,968		-			(20,555	)		2,577,413		-
Total options outstanding not exercisable										-		27.85		12,061,467		5,196,008		(14,810	)		(305,130	)		16,937,535		12,126,237
Total partners options										-		31.02		15,704,171		5,196,008		(3,622,609	)		(340,035	)		16,937,535		15,818,165
Total simple / partners options										27.34		31.90		80,865,917		5,196,008		(5,060,775	)		(1,635,136	)		79,366,014		81,414,209

(*) Refers to the non exercise due to the beneficiary’s option.

Summary of changes in the share-based instruments

No.	Vesting period			Balance at 12/31/2012		New		Converted into shares			Cancelled			Balance at 09/30/2013
1st		08/17/2010	08/16/2013		118,108		-		(116,666	)		(1,442	)		-
1st		08/30/2010	08/16/2013		11,234		-		(11,234	)		-			-
1st		09/30/2010	08/16/2013		4,367		-		(4,367	)		-			-
2nd		09/30/2010	09/29/2013		453,549		-		(453,549	)		-			-
3rd		02/28/2011	02/27/2012		478,886		-		(478,886	)		-			-
3rd		02/28/2011	02/27/2013		478,876		-		-			-			478,876
4th		02/24/2012	02/24/2013		510,599		-		(510,599	)		-			-
4th		02/24/2012	02/24/2014		510,579		-		-			-			510,579
4th		02/24/2012	02/24/2015		510,566		-		-			-			510,566
5th		02/27/2013	02/26/2014		-		161,756		-			-			161,756
5th		02/27/2013	02/26/2015		-		161,745		-			-			161,745
5th		02/27/2013	02/26/2016		-		161,738		-			-			161,738
Total					3,076,764		485,239		(1,575,301	)		(1,442	)		1,985,260

No.	Vesting period			Balance at 12/31/2011		New		Converted into shares			Cancelled			Balance at 09/30/2012
1st		08/17/2010	08/16/2012		121,647		-		(119,976	)		(1,671	)		-
1st		08/17/2010	08/16/2013		121,635		-		-			(3,527	)		118,108
1st		08/30/2010	08/16/2012		11,238		-		(11,238	)		-			-
1st		08/30/2010	08/16/2013		11,233		-		-			-			11,233
1st		09/30/2010	08/16/2012		4,368		-		(4,368	)		-			-
1st		09/30/2010	08/16/2013		4,367		-		-			-			4,367
2nd		09/30/2010	09/29/2012		466,579		-		(6,086	)		(13,017	)		447,476
2nd		09/30/2010	09/29/2013		466,569		-		-			(13,017	)		453,552
3rd		02/28/2011	02/27/2011		488,444		-		(488,444	)		-			-
3rd		02/28/2011	02/27/2012		488,433		-		-			(9,547	)		478,886
3rd		02/28/2011	02/27/2013		488,422		-		-			(9,546	)		478,876
4th		02/24/2012	02/24/2013		-		515,737		-			(5,138	)		510,599
4th		02/24/2012	02/24/2014		-		515,720		-			(5,138	)		510,582
4th		02/24/2012	02/24/2015		-		515,703		-			(5,138	)		510,565
Total					2,672,935		1,547,160		(630,112	)		(65,739	)		3,524,244

III – Fair value and economic assumptions for cost recognition

ITAÚ UNIBANCO HOLDING recognizes, at the granting date, the fair value of options through the Binomial method for Simple Options and the Black & Scholes method for Partners Options. Economic assumptions used are as follows:

Exercise price: for the option exercise price, the exercise price previously agreed upon at the option issue is adopted, adjusted by the IGP-M variation;

Price of the underlying asset: the share price of ITAÚ UNIBANCO HOLDING (ITUB4) used for calculation is the closing price at BM&FBOVESPA on the calculation base date;

Expected dividends: the average annual return rate for the last three years of the dividends paid, plus interest on capital of the ITUB4 share;

Risk-free interest rate: the applied risk-free rate is the IGP-M coupon rate at the expiration date of the option plan;

Expected volatility: calculated based on the standard deviation from the history of the last 84 monthly returns of closing prices of the ITUB4 share, released by BM&FBOVESPA, adjusted by the IGP-M variation.

Granting

Vesting period

Exercise

Price of underlying

Fair

Expected

Risk-free

Expected

No.

Date

until

period until

asset

value

dividends

interest rate

volatility

Partners options (*)

18th

02/27/2013

02/27/2016

-

34.66

28.87

2.91

%

-

-

18th

02/27/2013

02/27/2018

-

34.66

27.25

2.91

%

-

-

(*) The fair value of option is measured based on the fair value of Itaú Unibanco share at the granting date.

IV - Accounting effects arising from options

The exercise of stock options, pursuant to the Plan’s regulation, resulted in the sale of preferred shares held in treasury thus far. The accounting entries related to the plan are recorded during the vesting period, at the deferral of the fair value of options granted with effect on Income, and during the exercise of options, at the amount received from the option exercise price, reflected in Stockholders’ Equity.

The effect of Income for the period from January 1 to September 30, 2013 was R$ (147,337) (R$ (133,040) from January 1 to September 30, 2012), as contra-entry to Capital Reserve – Granted Options Recognized – Law No. 11,638 (Note 16c).

In the Stockholders’ Equity, the effect was as follows:

	09/30/2013			09/30/2012
Amount received for the sale of shares – exercised options		147,440			197,888
(-) Cost of treasury shares sold		(267,835	)		(235,273	)
(+) Write-off of cost recognized of exercised options		154,758			102,561
Effect on sale (*)		34,363			65,176

(*) Recorded in revenue reserves.

Note 17 – Related parties

a) Transactions between related parties are disclosed in compliance with CVM Resolution n° 642, of October 7, 2010, and CMN Resolution n° 3,750 of June 30, 2009. These transactions are carried out at amounts, terms and average rates in accordance with normal market practices during the period, as well as under reciprocal conditions.

Transactions between companies included in consolidation were eliminated from the consolidated financial statements and take into consideration the lack of risk.

The unconsolidated related parties are the following:

· Itaú Unibanco Participações S.A. (IUPAR) and ITAÚSA, parent companies of ITAÚ UNIBANCO HOLDING;

· The non-financial subsidiaries of ITAÚSA, specially: Itautec S.A., Duratex S.A., Elekeiroz S.A. and Itaúsa Empreendimentos S.A.;

· Fundação Itaú Unibanco, FUNBEP – Fundo de Pensão Multipatrocinado, Fundação Bemgeprev, UBB – Prev Previdência Complementar, and Fundação Banorte Manuel Baptista da Silva de Seguridade Social, closed-end supplementary pension entities that administer retirement plans sponsored by ITAÚ UNIBANCO HOLDING and/or its subsidiaries; and

· Fundação Itaú Social, Instituto Itaú Cultural, Instituto Unibanco, Instituto Assistencial Pedro Di Perna, Instituto Unibanco de Cinema, and Associação Clube A, entities sponsored by ITAÚ UNIBANCO and subsidiaries to act in their respective areas of interest, as described in Notes 22e and 22j.

· Investments in Porto Seguro Itaú Unibanco Participações S.A., SERASA S.A., BSF Holding S.A., Tecnologia Bancária S.A., MCC Securities Inc. and MCC Corredora de Bolsa S.A..

The transactions with these related parties are basically characterized by:

	ITAÚ UNIBANCO HOLDING												ITAÚ UNIBANCO HOLDING CONSOLIDATED
	Assets / (liabilities)						Revenue / (expense)							Assets / (liabilities)						Revenue / (expense)
	09/30/2013			09/30/2012			01/01 to 09/30/2013			01/01 to 09/30/2012			Annual rate	09/30/2013			09/30/2012			01/01 to 09/30/2013			01/01 to 09/30/2012
Interbank investments		38,522,456			38,557,254			2,114,772			2,233,198				-			1,137,373			-			77,335
Itaú Unibanco S.A.		31,698,967			32,299,984			1,806,561			1,949,795				-			-			-			-
Grand Cayman Branch		6,823,489			6,257,270			308,211			283,403				-			-			-			-
Itaú Unibanco Financeira S.A. Crédito, Financiamento e Investimento (Note 2b)		-			-			-			-				-			171,221			-			11,475
Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento		-			-			-			-				-			966,152			-			65,860
Securities and derivative financial instruments		11,358,780			6,485,581			441,571			144,258				-			-			-			-
Grand Cayman Branch		11,358,780			6,485,581			441,571			144,258				-			-			-			-
Deposits		(104,110	)		(5,154,518	)		(4,110	)		(322,075	)			(3,161	)		(1,271	)		-			(1,724	)
Itaú Unibanco S.A.		(104,110	)		(5,154,518	)		(4,110	)		(322,075	)			-			-			-			-
Duratex S.A.		-			-			-			-				(3,161	)		(1,016	)		-			(1,327	)
Elekeiroz S.A.		-			-			-			-				-			-			-			(303	)
Itaú Unibanco Financeira S.A. Crédito, Financiamento e Investimento (Note 2b)		-			-			-			-				-			(255	)		-			(75	)
Other		-			-			-			-				-			-			-			(19	)
Securities sold under repurchase agreements		-			-			(802	)		-				(118,660	)		(291,145	)		(9,232	)		(6,787	)
Itaú Unibanco S.A.		-			-			-			-				-			-			-			-
Itaúsa Empreendimentos S.A.		-			-			-			-		100% of Selic		(41,517	)		(5,273	)		-			-
Duratex S.A.		-			-			-			-		100% of Selic		(44,178	)		(199,725	)		(6,481	)		(1,497	)
Elekeiroz S.A.		-			-			-			-		100% of Selic		(25,798	)		-			(1,088	)		(543	)
Itautec S.A.		-			-			-			-		100% of Selic		(7,167	)		(12,417	)		(1,663	)		-
Facilita Promotora S.A.		-			-			-			-				-			(3,797	)		-			(130	)
Olimpia Promoção e Serviços S.A.		-			-			-			-				-			(1,906	)		-			(88	)
Maxfácil Participações S.A		-			-			-			-				-			(68,010	)		-			(4,257	)
Other		-			-			(802	)		-				-			(17	)		-			(272	)
Amounts receivable from (payable to) related companies		(241	)		-			-			-				(136,436	)		(121,415	)		-			-
Itaú Corretora de Valores S. A.		(241	)		-			-			-				-			-			-			-
Itaúsa Investimentos Itaú S.A.		-			-			-			-				87			56			-			-
Porto Seguro S.A.		-			-			-			-				-			8,940			-			-
Itaú Unibanco Financeira S.A. Crédito, Financiamento e Investimento (Note 2b)		-			-			-			-				-			(1,574	)		-			-
Olimpia Promoção e Serviços S.A.		-			-			-			-				-			(1,108	)		-			-
Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento		-			-			-			-				-			(1,578	)		-			-
Maxfácil Participações S.A		-			-			-			-				-			(1,484	)		-			-
Fundação Itaú Unibanco		-			-			-			-				(53,075	)		1,308			-			-
FUNBEP - Fundo de Pensão Multipatrocinado		-			-			-			-				269			259			-			-
Caixa de Prev.dos Func. do Banco Beg - PREBEG		-			-			-			-				-			(6,913	)		-			-
Fundação BEMGEPREV		-			-			-			-				23			(8,321	)		-			-
UBB Prev Previdência Complementar		-			-			-			-				5			(24,825	)		-			-
Fundação Banorte Manuel Baptista da Silva de Seguridade Social		-			-			-			-				(83,605	)		(87,266	)		-			-
Outras		-			-			-			-				(140	)		1,091			-			-
Banking service fees (expenses)		-			-			(2,412	)		(2,438	)			-			-			31,710			42,389
Itaú Corretora de Valores S. A.		-			-			(2,412	)		(2,438	)			-			-			-			-
Fundação Itaú Unibanco		-			-			-			-				-			-			24,570			18,367
FUNBEP - Fundo de Pensão Multipatrocinado		-			-			-			-				-			-			4,029			3,822
UBB Prev Previdência Complementar		-			-			-			-				-			-			42			1,107
Caixa de Prev.dos Func. do Banco Beg - PREBEG		-			-			-			-				-			-			-			1,401
Itaúsa Investimentos Itaú S.A.		-			-			-			-				-			-			854			812
Itaú Unibanco Financeira S.A. Crédito, Financiamento e Investimento (Note 2b)		-			-			-			-				-			-			-			288
Luizacred S.A. Sociedade de Crédito, Financiamento e Investimento		-			-			-			-				-			-			-			4
Olimpia Promoção e Serviços S.A.		-			-			-			-				-			-			-			(9,298	)
Porto Seguro S.A.		-			-			-			-				-			-			-			23,671
Outras		-			-			-			-				-			-			2,215			2,215
Rent revenues (expenses)		-			-			(173	)		(193	)			-			-			(36,133	)		(24,882	)
Itaúsa Investimentos Itaú S.A.		-			-			(12	)		(45	)			-			-			(1,103	)		-
Itaú Seguros S.A.		-			-			(123	)		(113	)			-			-			-			-
Fundação Itaú Unibanco		-			-			-			-				-			-			(27,787	)		(16,293	)
FUNBEP - Fundo de Pensão Multipatrocinado		-			-			-			-				-			-			(7,243	)		(7,445	)
Outras		-			-			(38	)		(35	)			-			-			-			(1,144	)
Donation expenses		-			-			-			-				-			-			(53,800	)		(48,200	)
Instituto Itaú Cultural		-			-			-			-				-			-			(53,000	)		(47,400	)
Associação Clube A		-			-			-			-				-			-			(800	)		(800	)
Data processing expenses		-			-			-			-				-			-			(200,747	)		(207,462	)
Itautec S.A.		-			-			-			-				-			-			(200,747	)		(207,462	)

In addition to the aforementioned operations, ITAÚ UNIBANCO HOLDING and non-consolidated related parties, as an integral part of the Agreement for apportionment of common costs of Itaú Unibanco, recorded in Other Administrative Expenses in the amount of R$ 3,373 (R$ 3,784 from 01/01 to 09/30/2012) in view of the use of common structure.

In accordance with the rules in effect, the financial institutions cannot grant loans or advances to the following:

a) any individual or company that control the Institution or any entity under common control with the institution, or any officer, director, fiscal council member or direct relative of such individuals;

b) any entity controlled by the Institution; or

c) any entity of which the bank directly or indirectly holds at least 10% of capital stock.

Therefore, no loans or advances are made to any subsidiaries, executive officers, Board of Directors members or their relatives.

b) Compensation of Management Key Personnel

Resolution CMN n° 3,921, of November 25, 2010, sets forth that the management’s variable compensation should be consistent with the institution’s risk management policies, and at least fifty percent (50%) should be mandatorily paid in shares and be deferred for payment in at least three (3) years.

To comply with the Resolution on compensation, Itaú Unibanco Holding was authorized by CVM to transfer, on a private basis, shares of its own issue held in treasury to its management members and the management members of its subsidiaries.

In the period from January 1 to September 30, 2013, the accounting effect of the compensation is recorded in Compensation of Key Management Members in Compensation and Profit Sharing, in compliance with statutory limits.

The fees attributed in the period to ITAÚ UNIBANCO HOLDING management members are as follows:

	01/01 to 09/30/2013		01/01 to 09/30/2012
Compensation		185,504		195,685
Board of Directors		10,025		6,291
Management members		175,479		189,394
Profit sharing		181,749		122,972
Board of Directors		7,864		1,500
Management members		173,885		121,472
Contributions to pension plans		2,549		6,947
Board of Directors		3		3
Management members		2,546		6,944
Stock option plan – Management members		130,669		120,370
Total		500,471		445,974

Information related to the granting of the stock option plan, benefits to employees and post-employment is detailed in Notes 16f IV and 19, respectively.

Note 18 - Market value

The financial statements are prepared in accordance with accounting principles which assume the normal continuity of the operations of ITAÚ UNIBANCO HOLDING and its subsidiaries.

The book value of each financial instrument, whether included or not in the balance sheet (comprises investments in affiliates and other investments), when compared to the value that might be obtained in an active market, or in the absence of such market, using the net present value of future cash flows adjusted based on the current market interest, is approximately equal to the market value, or does not have a market quotation available, except for the instruments in the table below:

									Unrealized income (loss) (1)
	Book value				Market				Results						Stockholders’ equity
	09/30/2013		09/30/2012		09/30/2013		09/30/2012		09/30/2013			09/30/2012			09/30/2013			09/30/2012
Interbank deposits		20,574,721		18,160,320		20,579,537		18,198,058		4,816			37,738			4,816			37,738
Securities and derivative financial instruments		272,109,885		234,556,390		272,852,531		235,749,162		(627,195	)		3,634,199			742,646			1,192,772
Adjustment of available-for-sale securities										(1,378,873	)		2,431,385			-			-
Adjustment of held-to-maturity securities										751,678			1,202,814			742,646			1,192,772
Loan, lease and other credit operations		361,387,071		332,127,865		362,426,448		334,134,110		1,039,377			2,006,245			1,039,377			2,006,245
Investments
BM&FBovespa		14,610		24,755		135,706		227,533		121,096			202,778			121,096			202,778
Cetip S.A.		-		291		-		12,076		-			11,785			-			11,785
Porto Seguro Itaú Unibanco Participações S.A. (2)		1,359,779		1,254,314		2,752,191		2,004,186		1,392,412			749,872			1,392,412			749,872
Serasa S.A.		-		244,642		-		1,648,278		-			1,403,636			-			1,403,636
Parent company		-		161,843		-		1,565,479		-			1,403,636			-			1,403,636
Minority stockholders (3)		-		82,799		-		82,799		-			-			-			-
Fundings and borrowings (4)		198,853,221		203,725,561		199,402,093		204,069,729		(548,872	)		(344,168	)		(548,872	)		(344,168	)
Subordinated debt (Note 10f)		55,270,116		49,342,036		54,707,020		50,097,691		563,096			(755,655	)		563,096			(755,655	)
Treasury shares		1,917,880		1,527,334		2,240,753		1,611,842		-			-			322,873			84,508
Total unrealized										1,944,730			6,946,430			3,637,444			4,589,511

(1) This does not consider the corresponding tax effects.

(2) Parent company of Porto Seguro S.A.

(3) The investment held by minority stockholders does not affect the result of ITAÚ UNIBANCO HOLDING.

(4) Funding is represented by interbank and time deposits, funds from acceptance and issuance of securities and borrowings.

To obtain the market values for these financial instruments, the following criteria were adopted:

· Interbank investments were determined based on their nominal amounts, monetarily restated to maturity dates and discounted to present value using future market interest rates and swap market rates for fixed-rate securities and using market interest rates for fixed-rate securities, achieved at the closing of BM&FBOVESPA at the balance sheet date, for floating-rate securities;

· Securities and derivative financial instruments, according to the rules established by Circulars No. 3,068 and 3,082 of November 8, 2001 and January 30, 2002, respectively, issued by the Central Bank of Brazil (BACEN), are recorded at their market value, except for those classified as Held to Maturity. Government securities allocated in this category have their market value calculated based on the rates obtained in the market, and validated through the comparison with information provided by the National Association of Financial Market Institutions (ANBIMA). Private securities included in this category have their market value calculated using a criterion similar to the one adopted for Investments in Interbank Deposits, as described above;

· Loans with maturity over 90 days, when available, were calculated based on the net present value of future cash flows discounted at market interest rates effective on the balance sheet date, taking into account the effects of hedges as well (swap contracts);

· Investments - in companies BM&FBOVESPA and Porto Seguro at the share value in stock exchanges and Serasa S.A. based on the historical average of Price/Income ratio of its parent company.

· Time and interbank deposits and funds from acceptance and issuance of securities and foreign borrowings through securities, when available, were calculated based on their present value determined by future cash flows discounted at market rates obtained at the closing of BM&FBOVESPA on the balance sheet date;

· Subordinated debt, based on the net present value of future fixed or floating cash flows in foreign currency, net of the market interest rates effective on the balance sheet date and considering the credit risk of the issuer. The floating cash flows are estimated as from the interest curves of the indexation market places;

· Treasury shares are valued according to the average quotation available on the last trading day of the month or, if this is not available, according to the most recent quotation on prior trading days, published in the daily bulletin of each Stock Exchange.

Note 19 – Post-Employments Benefits

Pursuant to CVM Resolution No. 695, dated December 13, 2012, we present the policies adopted by ITAÚ UNIBANCO HOLDING and its subsidiaries regarding benefits to employees, as well as the accounting procedures adopted. The effects from adopting this Resolution, when applicable, are presented on a comparative basis in the notes to the financial statements; however, these effects have no impact on the financial statements of September 30,2012.

ITAÚ UNIBANCO HOLDING and some of its subsidiaries sponsor defined benefit and variable contribution plans, which basic purpose is granting benefits that, in general, provide a life annuity benefit, and may be converted into survivorship annuities, according to the plan's regulation. They also sponsor defined contribution plans, the benefit of which is calculated based on the accumulated balance at the eligibility date, according to the plan's regulation, which does not require actuarial calculation, except as described in Note 19c.

Employees hired until July 31, 2002, who come from Itaú, and until February 27, 2009, who come from Unibanco, are beneficiaries of the above-mentioned plans. As regards the employees hired after these dates, they have the option to voluntarily participate in a variable contribution plan (PGBL), managed by Itaú Vida e Previdência S.A..

a) Description of the Plans

Supplementary plans are managed by closed-end private pension entities with independent legal structures, as detailed below:

Entity	Benefit plan
Fundação Itaubanco - Previdência Complementar	Supplementary retirement plan – PAC (1)
	Franprev benefit plan - PBF (1)
	002 benefit plan - PB002 (1)
	Itaulam basic plan - PBI (1)
	Itaulam Supplementary Plan - PSI (2)
	Itaubanco Defined Contribution Plan (3)
	Itaubank Retirement Plan (3)
	Itaú Defined Benefit Plan (1)
	Itaú Defined Contribution Plan (2)
	Unibanco Pension Plan (3)
	Prebeg benefit plan (1)
Fundação Bemgeprev	Supplementary Retirement Plan – Flexible Premium Annuity (ACMV) (1)
Funbep Fundo de Pensão Multipatrocinado	Funbep I Benefit Plan (1)
	Funbep II Benefit Plan (2)
Múltipla - Multiempresas de Previdência Complementar	Redecard Basic Retirement Plan (1)
	Redecard Supplementary Retirement Plan (2)
	Redecard Supplementary Plan (3)
UBB-PREV - Previdência Complementar	UBB PREV Defined Benefit Plan (1) (4)
Banorte Fundação Manoel Baptista da Silva de Seguridade Social	Benefit Plan II (1)

(1) Defined benefit plan;

(2) Variable contribution plan;

(3) Defined contribution plan;

(4) Plan arising from the process of merging the IJMS Plan by the Basic Plan, both managed by UBB Prev, approved by the Superintendency of Supplementary

Social Security(PREVIC) on December 28, 2012.

b) Governance

The closed-end private pension entities (EFPC) and benefit plans they manage are regulated in conformity with the related specific legislation. The EFPC are managed by the Executive Board, Advisory Council and Fiscal Council, with some members appointed by the sponsors and others appointed as representatives of active and other participants, pursuant to the respective Entity’s bylaws. The main purpose of the EFPC is to pay benefits to eligible participants, pursuant to the Plan Regulation, maintaining the plans assets invested separately and independently from ITAÚ UNIBANCO HOLDING.

c) Defined benefit plan

I - Main assumptions used in actuarial valuation of Retirement Plans

	09/30/2013	09/30/2012
Discount rate (1)	8.16% p.a.	9.72% p.a.
Mortality table (2)	AT-2000	AT-2000
Turnover (3)	Itaú Exp. 2008/2010	Itaú Exp. 2008/2010
Future salary growth	7.12 % p.a.	7.12% p.a.
Growth of the pension fund and social security benefits	4.00 % p.a.	4.00% p.a.
Inflation	4.00 % p.a.	4.00% p.a.
Actuarial method (4)	Projected Unit Credit	Projected Unit Credit

(1) The adoption of this assumption is based on a study that adopts the methodology of following up the interest rate of long-term securities issued by Brazilian Treasury, indexed to inflation rates, and on the analysis of changes in the interest curves up to the actuarial valuation base date. The Discount Rate assumption was changed in 2012 so as to be consistent with the economic scenario at the balance sheet date.

(2) The mortality tables adopted correspond to those disclosed by SOA – Society of Actuaries, the North-American Entity which corresponds to IBA – Brazilian Institute of Actuarial Science, which reflects a 10% increase in the probabilities of survival as compared to the respective basic tables.

The life expectancy in years by the AT-2000 mortality table for participants of 55 years of age is 27 and 31 years for men and women, respectively.

(3) The turnover assumption is based on the effective experience of ITAÚ UNIBANCO HOLDING, resulting in the average of 2.4% p.a. based on the 2008/2010 experience.

(4) Using the Projected Unit Credit, the mathematical reserve is determined by the current projected benefit amount multiplied by the ratio between the length of service in the company at the assessment date and the length of service that will be reached at the date when the benefit is granted. The cost is determined taking into account the current projected benefit amount distributed over the years that each participant is employed.

Actuarial assumptions adopted are consistent with the group of participants of each benefit plan, pursuant to the studies carried out by an independent external actuarial consulting company, for biometric/demographic assumptions, and studies coordinated by the Investment Officer of EFPC regarding the economic assumptions.

The basic difference between the assumptions above and those adopted upon determination of the actuarial liability of defined benefit plans, for purposes of recording in the balance sheet of the closed-end private pension entities that manage them, is the actuarial method. For this purpose, the Bank adopts the aggregate method, by which the mathematical reserve is defined based on the difference between the present value of the projected benefit and the present value of future contributions, subject to the methodology defined in the respective actuarial technical note.

II- Risk Exposure

Due to its defined benefit plans, ITAÚ UNIBANCO HOLDING is exposed to a number of risks, the most significant ones are:

- Volatility of assets

The actuarial liability is calculated by adopting a discount rate defined based on the income from securities issued by the Brazilian treasury (government securities). If the actual income from plan investments is lower than expected, this may give rise to a deficit. The plans have a significant percentage of fixed-income securities pegged to the plan commitments, aiming at minimizing volatility and the short and medium-term risk.

- Changes in investment income

A decrease in income from public securities will imply a decrease in discount rate and, therefore, will increase the plan actuarial liability. The effect will be partially offset by the recognition of these securities at market value.

- Inflation risk

Most of plan benefits are pegged to the inflation rates, and a higher inflation will lead to higher obligations. The effect will also be partially offset because a significant portion of the plan assets is pegged to government securities restated at the inflation rate.

- Life expectancy

Most of the plan obligations are to provide life benefits and therefore the increase in life expectancy will result in increased plan liabilities.

III –Management of defined benefit plan assets

The general purpose of managing EFPC funds is to search for a long-term balance between assets and obligations with payment of retirement benefits, by exceeding the actuarial targets (discount rate plus benefit adjustment index, established in the plan regulations).

Regarding the assets guaranteeing the actuarial liability reserves, management should ensure the payment capacity of retirement benefits in the long-term by avoiding the risk of mismatching assets and liabilities in each pension plan.

At September 30, 2013 and 2012 the allocation of plan assets and the allocation target for 2013, by type of asset, are as follows:

	Fair value				% Allocation
Types	09/30/2013		09/30/2012		09/30/2013			09/30/2012			2013 Target
Fixed income securities		14,242,212		11,380,887		92.28	%		91.37	%		53% to 100%
Variable income securities		635,257		694,127		4.12	%		5.57	%		0% to 20%
Structured investments		17,681		14,757		0.12	%		0.12	%		0% to 10%
Foreign Investments		-		-		0.00	%		0.00	%		0% to 5%
Real estate		513,019		340,965		3.32	%		2.74	%		0% to 7%
Loans to participants		26,398		24,525		0.17	%		0.20	%		0% to 5%
Total		15,434,567		12,455,261		100.00	%		100.00	%

The defined benefit plan assets include shares of ITAÚ UNIBANCO HOLDING, its main parent company (ITAÚSA) and of subsidiaries of the latter, with a fair value of R$ 522,297 (R$ 527,629 at 09/30/2012), and real estate rented to Group companies, with a fair value of R$ 510,216 (R$ 293,192 at 09/30/2012).

Fair value

The fair value of the plan assets is adjusted up to the report date, as follows:

Fixed-Income Securities and Structured Investments – accounted for at market value, considering the average trading price on the calculation date, net realizable value obtained upon the technical addition of pricing, considering, at least, the payment terms and maturity, credit risk and the indexing unit.

Variable income securities – accounted for at market value, being so understood the share average quotation at the last day of the month or at the closest date on the stock exchange on which the share has posted the highest liquidity rate.

Real Estate – stated at acquisition or construction cost, adjusted to market value upon reappraisals made in 2012 and 2013, supported by technical appraisal reports. Depreciation is calculated under the straight line method, considering the useful life of the real estate.

Loans to participants – adjusted up to the report date, in compliance with the respective agreements.

Fund Allocation Target

The fund allocation target is based on Investment Policies that are currently revised and approved by the Advisory Council of each EFPC, considering a five-year period, which establishes guidelines for investing funds guaranteeing Actuarial Liability and for classifying securities.

IV- Net amount recognized in the balance sheet

Following is the calculation of the net amount recognized in the balance sheet, corresponding to the defined benefit plan:

	09/30/2013			09/30/2012
1 - Net assets of the plans		15,434,567			12,455,261
2 - Actuarial liabilities		(13,178,033	)		(10,623,100	)
3- Surplus (1-2)		2,256,534			1,832,161
4- Asset restriction (*)		(2,241,694	)		(1,400,700	)
5 - Net amount recognized in the balance sheet (3-4)		14,840			431,461
Amount recognized in Assets (Note 13a)		483,654			655,350
Amount recognized in Liabilities (Note 13c)		(468,814	)		(223,889	)

(*) Corresponds to the excess of present value of the available economic benefit, in conformity with item 64 of CVM Resolution nº 695.

V- Change in the net amount recognized in the balance sheet:

	09/30/2013
	Net assets			Actuarial liabilities			Surplus			Asset Ceiling			Recognized amount
Value at beginning of the period		15,072,202			(12,905,894	)		2,166,308			(2,137,207	)		29,101
Cost of current service		-			(74,732	)		(74,732	)		-			(74,732	)
Net interest (1)		901,166			(768,153	)		133,013			(131,032	)		1,981
Benefits paid		(547,835	)		547,835			-			-			-
Contributions of sponsor		34,572			-			34,572			-			34,572
Contributions of participants		9,538			-			9,538			-			9,538
Effects on asset ceiling		-			-			-			30,851			30,851
Actuarial gain/(loss) (3) (4)		(35,076	)		22,911			(12,165	)		(4,306	)		(16,471	)
Value at end of the period		15,434,567			(13,178,033	)		2,256,534			(2,241,694	)		14,840

	09/30/2012
	Net assets			Actuarial liabilities			Surplus			Asset Ceiling			Recognized amount
Value at beginning of the period		11,772,927			(10,413,448	)		1,359,479			(1,262,610	)		96,869
Cost of current service		-			(63,321	)		(63,321	)		-			(63,321	)
Net interest (1) (2)		976,864			(738,716	)		238,148			(130,797	)		107,351
Benefits paid		(504,592	)		504,592			-			-			-
Contributions of sponsor		33,676			-			33,676			-			33,676
Contributions of participants		11,451			-			11,451			-			11,451
Effects on asset ceiling		-			-			-			(138,090	)		(138,090	)
Actuarial gain/(loss) (3) (4)		164,935			87,793			252,728			130,797			383,525
Value at end of the period		12,455,261			(10,623,100	)		1,832,161			(1,400,700	)		431,461

(1) Calculated based on the initial value of the period, less the average value of payments/receipts of benefits/contributions multiplied by the discount rate of 8.16% (9.72% at 12/31/2012).

(2) On 12/31/2012 it was used rate of 11.60% to calculate the expected return on plan net assets.

(3) Gains/losses recorded in net assets and asset ceiling correspond to the income earned above/below the expected return rate.

(4) The actual return on assets amounted to R$ 866,090 (R$ 1,141,799 at at September 30, 2012).

VI- Total amounts recognized in Income for the Period and Stockholders’ Equity – Asset valuation adjustment:

	Income						Stockholders’ Equity
	01/01 to 09/30/2013			01/01 to 09/30/2012			09/30/2013			09/30/2012
Cost of current service		(74,732	)		(63,321	)		-			-
Net interest		1,981			107,351			-			-
Effects on asset ceiling		-			-			30,851			(138,090	)
Actuarial gain/(loss)		-			-			(6,933	)		394,976
Total Amounts Recognized		(72,751	)		44,030			23,918			256,886

During the period, contributions made totaled R$ 34,572 (R$ 33,676 from January 1 to September 30, 2012). The contribution rate increases based on the beneficiary’s salary.

In 2013, the expected contribution to retirement plans sponsored by ITAÚ UNIBANCO HOLDING is R$ 35,494.

The estimate for payment of benefits for the next 10 years is as follows:

Period	Estimated payment
2013		708,111
2014		740,621
2015		761,722
2016		783,866
2017		806,162
2018 to 2022		4,399,475

VII- Sensitivity of defined benefit obligation

The impact of the change in the discount rate assumption by 0.5% on actuarial liability is as follows:

Change in Assumption	Effect on Actuarial Liability	R$			Percentage
- Decrease by 0.5%	Increase		868,151			6.42	%
- Increase by 0.5%	Decrease		(778,961	)		(6.04	)%

d) Defined contribution plans

The defined contribution plans have pension funds set up by the portion of sponsors’ contributions not included in the participant’s accounts balance and by the loss of eligibility to a plan benefit, as well as by resources from the migration from the defined benefit plans. The fund will be used for future contributions to the individual participants' accounts, according to the rules of the respective benefit plan regulation.

I - Change in the net amount recognized in the balance sheet:

	09/30/2013									09/30/2012
	Pension Plan Fund			Asset Ceiling			Recognized Amount			Pension Plan Fund			Asset Ceiling			Recognized Amount
Amount - beginning of the period		2,645,829			(317,834	)		2,327,995			1,756,562			(313,376	)		1,443,186
Net interest		154,486			(19,402	)		135,084			146,150			(26,074	)		120,076
Contribution		(93,609	)		-			(93,609	)		(102,680	)		-			(102,680	)
Effects on asset ceiling		-			-			-			-			(996	)		(996	)
Financial Gain/(Loss)		6,268			801			7,069			168			26,074			26,242
Amount - end of the period (Note 13a)		2,712,974			(336,435	)		2,376,539			1,800,200			(314,372	)		1,485,828

II- Total amounts recognized in Income for the Period and Stockholders’ Equity – Asset valuation adjustment:

	Income						Stockholders’ Equity
	01/01 to 09/30/2013			01/01 to 09/30/2012			09/30/2013		09/30/2012
Contributions		(93,609	)		(102,680	)		-		-
Net interest		135,084			120,076			-		-
Financial Gain/(Loss)		-			-			7,069		26,242
Effects on asset ceiling		-			-			-		(996	)
Total Amounts Recognized		41,475			17,396			7,069		25,246

In the period, contributions to the defined contribution plans, including PGBL, totaled R$ 125,501 (R$ 133,805 from January 1 to September 30, 2012), of which R$ 93,609 (R$ 102,680 from January 1 to September 30, 2012) arises from pension funds.

e) Other post-employment benefits

ITAÚ UNIBANCO HOLDING and its subsidiaries do not offer other post-employment benefits, except in those cases arising from obligations under acquisition agreements signed by ITAÚ UNIBANCO HOLDING, as well as in relation to the benefits granted due to a judicial sentence, in accordance with the terms and conditions established, in which health plans are totally or partially sponsored for specific groups of former workers and beneficiaries.

Based on the reported prepared by an independent actuary, the changes in obligations for these other projected benefits and the amounts recognized in the balance sheet, under liabilities, of Itaú Unibanco Holding are as follows:

I - Change in the net amount recognized in the balance sheet:

	09/30/2013			09/30/2012
At the beginning of the period		(148,523	)		(120,154	)
Cost of interest		(9,320	)		(8,533	)
Benefits paid		5,546			4,141
Actuarial loss		(6,828	)		-
At the end of the period (Note 13c)		(159,125	)		(124,546	)

II- Total amounts recognized in Income for the Period and Stockholders’ Equity – Asset valuation adjustment:

	Income						Stockholders’ Equity
	01/01 to 09/30/2013			01/01 to 09/30/2012			09/30/2013			09/30/2012
Net interest		(9,320	)		(8,533	)		-			-
Benefits paid		5,546			4,141			-			-
Actuarial loss		-			-			(6,828	)		-
Total Amounts Recognized		(3,774	)		(4,392	)		(6,828	)		-

The estimate for payment of benefits for the next 10 years is as follows:

Period	Estimated payment
2013		6,136
2014		6,671
2015		7,233
2016		7,796
2017		8,409
2018 to 2022		52,171

III - Sensitivity Analyses - Cost of Healthcare

For calculation of benefits obligations projected beyond the assumptions used for the defined benefit plans (Note 19c l), the 8.16% p.a. increase in medical costs assumption is adopted.

Assumptions for rates related to medical assistance costs have a significant impact on the amounts recognized in income. A change of one percentage point in the medical assistance cost rates would have the effects as follows:

	Recognition	1.0% decrease		1.0% decrease
Service cost and cost of interest	Income		2,161		(1,699	)
Present value of obligation	Asset valuation adjustment		26,486		(20,819	)

Note 20 – Information on foreign subsidiaries

	Foreign branches (1)						Latin America consolidated (2)						Itaú Europe consolidated (3)						Cayman consolidated (4)						Other foreign companies (5)						Foreign consolidated (6)
	09/30/2013			09/30/2012			09/30/2013			09/30/2012			09/30/2013			09/30/2012			09/30/2013			09/30/2012			09/30/2013			09/30/2012			09/30/2013			09/30/2012
Assets
Current assets and long-term receivables
Cash and cash equivalents		3,251,891			2,450,306			3,206,234			2,715,234			339,787			313,089			547,038			1,249,698			1,148,507			1,471,707			7,802,265			6,532,264
Interbank investments		12,334,662			10,959,762			2,510,455			1,461,185			3,434,475			2,297,957			7,363,791			7,977,439			241,910			345,688			16,628,144			8,155,451
Securities		58,287,437			53,355,292			4,673,270			4,600,630			2,080,901			2,036,083			5,146,122			6,378,442			26,363			33,089			69,358,488			65,733,185
Loan, lease and other credit operations		43,219,780			33,040,948			32,936,789			25,031,544			8,717,853			7,482,490			104,941			97,083			633			828			84,913,090			65,591,968
Foreign exchange portfolio		49,693,277			32,030,420			425,870			420,265			4,434,977			3,636,363			1,539,407			494,140			-			-			53,076,520			35,995,919
Other assets		2,033,681			1,765,532			4,714,184			3,198,994			364,604			286,393			1,303,099			1,037,628			545,050			230,452			8,799,896			6,387,946
Permanent assets
Investments		15,681			23,798			5,563			7,489			4,930			4,074			59,464			57,563			489,573			22,727			29,740			40,826
Other investments		15,681			23,798			5,563			7,489			4,930			4,074			59,464			57,563			489,573			22,727			29,740			40,826
Fixed and intangible assets		18,967			23,914			602,879			550,293			167,948			176,129			519			1,370			18,351			17,749			808,664			769,456
Total		168,855,376			133,649,972			49,075,244			37,985,634			19,545,475			16,232,578			16,064,381			17,293,363			2,470,387			2,122,240			241,416,807			189,207,015
Liabilities
Current and long-term liabilities
Deposits		40,311,436			38,283,618			32,520,307			25,823,927			7,598,523			5,884,682			835,875			4,966,378			149			-			73,354,824			63,271,408
Demand deposits		8,143,188			7,907,647			9,073,268			6,716,836			4,714,021			2,937,874			546,633			361,107			149			-			21,786,066			16,250,499
Savings deposits		-			-			4,650,484			3,508,265			-			-			-			-			-			-			4,650,484			3,508,265
Interbank deposits		9,513,506			12,871,885			211,411			167,716			1,951,258			936,607			289,242			779,557			-			-			7,503,137			9,022,676
Time deposits		22,654,742			17,504,086			18,585,144			15,431,110			933,244			2,010,201			-			3,825,714			-			-			39,415,137			34,489,968
Deposits received under securities repurchase agreements		13,974,819			13,164,317			447,775			414,112			-			-			2,014,222			3,730,410			-			-			14,049,324			12,411,251
Funds from acceptance and issuance of securities		4,514,227			4,818,423			3,541,499			2,118,348			4,364,199			3,993,093			2,272,806			2,683,632			-			-			14,665,300			13,585,496
Borrowings		27,257,167			18,573,524			2,740,927			2,129,221			407			1,597			223			6,018			-			-			29,998,724			20,710,360
Derivative financial instruments		2,103,136			2,366,444			344,253			293,228			534,817			660,145			515,573			715,338			-			-			3,020,220			3,423,230
Foreign exchange portfolio		49,650,250			32,016,427			426,618			420,750			4,516,336			3,667,559			1,545,512			487,556			-			-			53,121,705			36,007,023
Other liabilities		20,360,845			14,736,854			3,223,344			2,293,056			338,549			574,993			1,340,687			1,961,936			369,576			196,228			25,405,373			19,570,136
Deferred income		96,550			60,886			2,423			5,780			25,372			19,773			-			-			1,336			1,224			125,681			87,663
Minority interest in subsidiaries		-			-			239			245			17			67			876,589			798,296			-			3			876,846			798,607
Stockholders’ equity
Capital and reserves		9,530,976			8,487,285			5,307,018			4,115,024			2,155,644			1,628,543			6,872,048			1,952,279			2,105,604			2,141,852			25,424,180			18,253,492
Net income for the period		1,055,970			1,142,194			520,841			371,943			11,611			(197,874	)		(209,154	)		(8,480	)		(6,278	)		(217,067	)		1,374,630			1,088,349
Total		168,855,376			133,649,972			49,075,244			37,985,634			19,545,475			16,232,578			16,064,381			17,293,363			2,470,387			2,122,240			241,416,807			189,207,015
Statement of Income
Income from financial operations		3,162,217			2,667,124			2,704,104			1,909,121			213,537			205,313			(161,649	)		299,210			10,332			9,326			5,795,471			4,913,384
Expenses of financial operations		(1,796,984	)		(1,289,733	)		(1,044,031	)		(751,087	)		(83,801	)		(111,748	)		19,811			(205,841	)		(416	)		(225	)		(2,760,144	)		(2,192,351	)
Result of loan losses		(221,166	)		(156,230	)		(253,153	)		(135,009	)		(10,447	)		2,546			-			-			(151	)		(65	)		(484,917	)		(288,758	)
Gross income from financial operations		1,144,067			1,221,161			1,406,920			1,023,025			119,289			96,111			(141,838	)		93,369			9,765			9,036			2,550,410			2,432,275
Other operating revenues (expenses)		(86,756	)		(78,764	)		(612,000	)		(538,257	)		(88,140	)		(126,565	)		(67,316	)		(101,849	)		(4,115	)		(58,579	)		(867,610	)		(895,055	)
Operating income		1,057,311			1,142,397			794,920			484,768			31,149			(30,454	)		(209,154	)		(8,480	)		5,650			(49,543	)		1,682,800			1,537,220
Non-operating income		-			(48	)		5,613			1,898			54			(148,502	)		-			-			1,461			(153,023	)		5,842			(300,576	)
Income before taxes on income and profit sharing		1,057,311			1,142,349			800,533			486,666			31,203			(178,956	)		(209,154	)		(8,480	)		7,111			(202,566	)		1,688,642			1,236,644
Income tax		(1,341	)		(155	)		(253,672	)		(114,559	)		(15,138	)		(15,826	)		-			-			(13,389	)		(14,501	)		(283,539	)		(145,040	)
Statutory participation in income		-			-			(25,988	)		(135	)		(4,454	)		(3,095	)		-			-			-			-			(30,441	)		(3,230	)
Minority interest in subsidiaries		-			-			(32	)		(29	)		-			3			-			-			-			-			(32	)		(25	)
Net income (loss)		1,055,970			1,142,194			520,841			371,943			11,611			(197,874	)		(209,154	)		(8,480	)		(6,278	)		(217,067	)		1,374,630			1,088,349

(1) Itaú Unibanco S.A. - Grand Cayman, New York and Tokyo branches, ITAÚ UNIBANCO HOLDING S.A - Grand Cayman Branch, Banco Itaú-BBA S.A - Nassau Branch.

(2) Banco Itaú Argentina S.A, Itaú Asset Management S.A.Sociedad Gerente de Fondos Comunes de Inversión, Itrust Servicios Inmobiliarios S.A.C.I, Itaú Sociedad de Bolsa S.A., Itaú Chile Holdings Inc., BICSA Holdings LTD., Banco Itaú Chile S.A., Itaú Chile Inversiones, Servicios Y Administración S.A., Itaú BBA Corredor de Bolsa Limitada (new company name of Itaú Chile Corredor de Bolsa Ltda.), Itaú Chile Corredora de Seguros Ltda., Itaú Chile Administradora General de Fondos S.A., Recuperadora de Créditos Ltda, Itaú Chile Compañia de Seguros de Vida S.A., ACO Ltda., Banco Itaú Uruguay S.A., OCA Casa Financiera S.A., OCA S.A., Unión Capital AFAP S.A., Banco Itau Paraguay, Tarjetas Unisoluciones S. A. de Capital Variable, Proserv - Promociones Y Servicios S.A. de C. V ., MCC Asesorias Limitada (50%), MCC Securites INC. (50%), Itaú BBA SAS, MCC Corredora de Bolsa (50,0489%) and Itaú BBA Colômbia; only at 09/30/2012, EF Securitizadora S.A.; only at 09/30/2013, Fundo ETF IPSA.

(3) IPI - Itaúsa Portugal Investimentos, SGPS Lda. (49%), Itaúsa Europa - Investimentos, SGPS, Lda., Itaú Europa, SGPS, Lda., Itaúsa Portugal - SGPS S.A.,Itau BBA International (Cayman) Ltd., Banco Itaú Europa Luxembourg S.A., BIE Cayman Ltd., Banco Itaú Europa International, Itaú Bank & Trust Bahamas Ltd., Itaú Europa Securities Inc., Itaú Bahamas Directors Ltd., Itaú Bahamas Nominees Ltd., Banco Itau Suisse S.A. and Itaú BBA International PLC; only at 09/30/2012, Banco Itau BBA International S.A .

(4) Itau Bank Ltd., ITB Holding Ltd., Jasper International Investment LLC, Itaú Bank & Trust Cayman Ltd., Uni-Investments Inter. Corp., Rosefield Finance Ltd. (50%), UBT Finance S.A., Itaú Cayman Directors Ltd. and Itaú Cayman Nominees Ltd.; only at 09/30/2012, Unibanco Cayman Bank Ltd. and Unipart Partic. Internac. Ltd.

(5) Afinco Americas Madeira, SGPS Soc. Unipessoal Ltda, Topaz Holding Ltd., Itaú USA Inc., Itaú International Investment LLC, Albarus S.A., Banco Del Paraná S.A., Garnet Corporation, Itau Global Asset Management, Mundostar S.A., Karen International Ltd., Nevada Woods S.A., Itaú Asia Securities Ltd., IPI - Itaúsa Portugal Investimentos, SGPS Lda. (51%), Itaú BBA USA Securities Inc., Itaú Middle East Limited, Unipart B2B Investments, S.L., Itau BBA UK Securities Limited, Itaú Japan Asset Management Ltd., Itaú (Beijing) Investment Consultancy Limited, Itaú UK Asset Management Limited, Itaú Asia Limited and Itaú USA INC; only at 09/30/2012, Zux Cayman Company Ltd.; only at 09/30/2013, Itaú Singapore Securities Pte. Ltd.

(6) Foreign consolidated information presents balances net of eliminations from consolidation.

Note 21 – Risk and capital management

Risk management is considered by ITAÚ UNIBANCO HOLDING an essential tool for optimizing the use of resources and selecting the best business opportunities, in order to maximize shareholder value.

At ITAÚ UNIBANCO HOLDING, risk and capital management is the process in which:

· The existing and potential risks in ITAÚ UNIBANCO HOLDING's operations are identified and measured;

· Norms, procedures and methodologies for risk management and control consistent with the Board of Directors’ guidelines and ITAÚ UNIBANCO HOLDING’s strategies are approved;

· The ITAÚ UNIBANCO HOLDING’s risk portfolio is managed considering the best risk-return ratio;

The purpose of risk identification is to map the risk events of internal and external nature that may affect the strategies of support and business units and the fulfillment of their objectives, with possibility of impact on ITAÚ UNIBANCO HOLDING’s income, capital, liquidity and reputation.

Risk management processes are spread throughout the whole institution, aligned with the guidelines of the Board of Directors and Executives that, through Committees of the Board of Directors and Senior Commissions, define the global objectives that are measured as goals and limits to the risk management units. Control and capital management units, in turn, support the ITAÚ UNIBANCO HOLDING’s management by monitoring and analyzing risk and capital.

In compliance with CMN Resolution No. 3,988, BACEN Circular No.º 3.547 and BACEN Circular Letter No. 3.565, ITAÚ UNIBANCO HOLDING implemented its capital management structure and its Internal Capital Adequacy Assessment Process (ICAAP), having submitted its first ICAAP report to BACEN in September 2013, related to June 2013 reporting date.

ITAÚ UNIBANCO HOLDING adopts a prospective approach to its capital management, which is carried out in a process consisting of the following phases:

· Identification and analysis of material risks to which Itaú Unibanco is exposed and assessment of capital requirements to cover material risks;

· Capital planning considering the strategic guidelines, economic environment and the guidelines of the Board of Directors;

· Stress tests exercises, aiming at analyzing the impact of serious events on the capitalization level of ITAÚ UNIBANCO HOLDING;

· Maintenance of a capital contingency plan for cases in which the capital sources turn out to be unfeasible or insufficient;

· Internal capital adequacy assessment;

· Preparation of periodic management reports on capital adequacy for top management and the Board of Directors.

ITAÚ UNIBANCO HOLDING’s risk management organizational structure is compliant with the regulations in Brazil and abroad and in line with market best practices. The Market, Credit, Liquidity, Operational and Underwriting risks control is performed in a centralized way by an independent unit, aiming at assuring that ITAÚ UNIBANCO HOLDING’s risks are being managed in accordance with established policies, norms and procedures. This independent structure is also responsible for centralizing ITAÚ UNIBANCO HOLDING’s capital management. The purpose of centralizing control is to provide the Executives and the Board of Directors with an overview of ITAÚ UNIBANCO HOLDING’s risk exposure, as well as a prospective view on the adequacy of its capital so as to optimize and speed up corporate decision-making.

ITAÚ UNIBANCO HOLDING manages proprietary IT systems to fully meet the applicable rules on capital reserve, and also for risk measurement, in compliance with the models issued by the regulatory models in force. It also coordinates actions to check for adherence to qualitative and quantitative requirements established by the relevant authorities for compliance with the minimum mandatory capital requirement and risk monitoring.

Further information on risk management can be found on the website www.itau-unibanco.com.br/ri, under section Corporate Governance/Risk Management – Pillar 3.

I – Market risk

Market risk is the possibility of incurring losses arising from the variations in the market values of positions held by a financial institution, including the risks of transactions subject to the variations in foreign exchange and interest rates, and equities, of price indexes and commodity prices among other indexes on these risk factors.

The market risk management is the process through which the institution plans, monitors and controls the risks of variations in financial instruments market values due market changes, aiming at optimizing the risk-return ratio, by using an appropriate structure of Adequate management limits, models and tools.

The ITAÚ UNIBANCO HOLDING’s Market Risk Management Policy is in line with the principles of Resolution No. 3,464, issued by the National Monetary Council (CMN) (as amended), being a set of principles that drive the ITAÚ UNIBANCO HOLDING strategy towards control and management of market risk of all business units and legal entities of the ITAÚ UNIBANCO HOLDING.

The document that details the guidelines set out by the corporate guidelines on market risk control can be read on the website www.itau-unibanco.com.br/ri, in the section Corporate Governance, Rules and Policies, Public Access Report – Market Risk.

Itau Unibanco’s market risk management strategy is aimed at balancing corporate business goals, taking into account, among other things:

· Political, economic and market conditions;

· The market risk profile of the portfolio; and

· Expertise within the group to support operations in specific markets.

The process for managing market risk of ITAÚ UNIBANCO HOLDING occurs within the governance and hierarchy of committees and limits approved specifically for this purpose, sensitizing different levels and classes of market risk. This framework limits that covers from the monitoring of aggregate indicators of risk (portfolio level) to the monitoring of granular limits (individual desks level), assuring effectiveness and coverage of control. These limits are dimensioned considering the projected results of the balance sheet, expected performance and risk appetite of the institution, the level of equity and the profile of risk of each organization unit, which are defined in terms of risk measures used by management. Limits are monitored and controlled daily and excesses are reported and discussed in the corresponding committees. Additionally, daily risk reports used by the business and control areas, are issued the top management.

The structure of limits and alerts follows the guidelines of the Board of Directors and is designed and approved by the Superior Risk Committee (CSRisc), after discussions and deliberations by the Superior Institutional Treasury Committee (CSTI). The review of this structure of limits is performed at least annually.

The purpose of this structure is:

· Providing more assurance to all executive levels that the assumption of market risks is in line with the ITAÚ UNIBANCO HOLDING and the risk-return objective;

· Promoting the disciplined and educated discussion on the global risk profile and its evolution over time;

· increasing transparency on the way the business seeks the optimization of results;

· Providing early warning mechanisms in order to make the effective risk management easier, without jeopardizing the business purposes; and

· Avoiding risk concentration.

The market risk control and management process is submitted to periodic reviews aimed at keeping it aligned with the best market practices and adhering to the continuous improvement processes at ITAÚ UNIBANCO HOLDING.

The control of market risk is carried out by an area independent from the business and audit ones, and is responsible for carrying out daily measurement, assessment, analysis and report activities to the areas and relevant people, pursuant to governance establishedand monitoring the actions required to adjust the position and/or risk level, when necessary.For this purpose, the ITAÚ UNIBANCO HOLDING relies on a structured communication and information flow, aiming at providing feedback for the follow-up of the superior committees and compliance with the regulatory bodies in Brazil and regulatory agents abroad.

ITAÚ UNIBANCO HOLDING hedges transactions with clients and proprietary positions, including its foreign investments, in order to mitigate risk arising from fluctuations in relevant market risk factors and to prevent positions from breaching relevant limits. Derivatives are commonly used for these hedging activities. When these transactions are classified as hedges for accounting purposes, specific supporting documentation is provided, including ongoing follow-up of hedge effectiveness (retrospective and prospective) and other changes in the accounting process. The accounting and managerial hedging procedures are governed by the institutional polices of ITAÚ UNIBANCO HOLDING.

The market risk framework categorizes transactions as part of either the banking portfolio or the trading portfolio, in accordance with general criteria established by the Capital Accord and subsequent amendments.

The trading portfolio consists of all qualifying transactions (including derivatives) held with intent to trade or to hedge risk within this portfolio, and that have no restriction.

The banking portfolio is basically characterized by transactions from the banking business, such as funding and loans, and also includes derivatives with eligible clients and transactions related to the management of the balance sheet of the institution, including by way of derivatives. It has the no-intention of resale and medium- and long-term time horizons as general guidelines.

Market risk exposures inherent in various financial instruments, including derivatives, are composed of various risk factors. A risk factor refers to a market parameter whose variation impacts a position’s valuation. The main risk factors measured by ITAÚ UNIBANCO HOLDING are as follows:

· Interest rates: the risk of losses from transactions subject to interest rates variations;

· Foreign exchange-linked: the risk of losses arising from positions in transactions which are subject to a foreign exchange-linked interest rate;

· Foreign exchange rates: the risk of losses from positions subject to foreign exchange rate variation;

· Price index-linked: the risk of losses from transactions subject to the variations in the price of index-linked interest rates;

· Variable income: risk of loss subject to variation in prices of shares and commodities;

The market risk analyses are conducted based on the following metrics:

· Value at risk (VaR): statistical measure that estimates the expected maximum potential economic loss under normal market conditions, considering a certain time horizon and confidence level;

· Losses in stress scenarios: simulation technique to assess the behavior of assets and liabilities and derivatives of a portfolio when several risk factors are taken to extreme market situations (based on prospective scenarios);

· Stop loss: metrics which purpose is to review positions, should losses accumulated in a certain period reach a certain amount;

· Concentration: cumulative exposure of a certain asset or risk factor calculated at market value (“MtM – Mark to Market”);

· Stressed VaR: statistical metric arising from VaR calculation, which purpose is to capture higher risk in simulations for the current portfolio, considering returns that can be seen in historical scenarios.

In addition to the aforementioned risk measures, sensitivity and loss control measures are also analyzed. They comprise:

· Mismatching analysis (GAPS):graphic representation by risk factor of cash flows expressed at market value, allocated at the maturity dates;

· Sensitivity (DV01- Delta Variation): impact on the market value of cash flows, when submitted to an one annual basis point increase in the current interest rates or index rate;

· Sensitivity to several risk factors (Greeks): partial derivatives of an option portfolio in relation to the prices of underlying assets, implied volatilities, interest rates and time.

ITAÚ UNIBANCO HOLDING uses proprietary systems to measure the consolidated market risk. The processing of these systems basically takes place in São Paulo, in an access-controlled, of high availability, environment, with data safekeeping and recovery processes, and counts on such an infrastructure to ensure the continuity of business in contingency (disaster recovery) situations.

ITAÚ UNIBANCO HOLDING, maintaining its conservative management and portfolio diversification, continued with its policy of operating within low limits in relation to its capital during the period.

In September 2013, ITAÚ UNIBANCO HOLDING recorded a Total Global VaR of R$ 211 million (R$ 218 million in September 2012).

II – Credit risk

Credit risk is the possibility of incurring losses in connection with: the breach by the borrower, issuer or counterparty of the respective agreed-upon financial obligations, the devaluation of loan agreement due to downgrading of the borrower’s, issuer’s or counterparty’s risk rating, the reduction in gains or compensation, the advantages given upon renegotiation and the recovery costs.

In line with the principles of CMN Resolution No. 3,721 of April 30, 2009, ITAÚ UNIBANCO HOLDING has a structure for and institutional norm on credit risk management, approved by its Board of Directors, applicable to the companies and subsidiaries in Brazil and abroad.

The document that outlines the guidelines set out by this internal policy on credit risk control can be read on the website www.itau-unibanco.com.br/ri, in the section Corporate Governance, Rules and Policies, Public Access Report – Credit Risk.

The purpose of ITAÚ UNIBANCO HOLDING’s credit risk management is to keep the quality of loan portfolio in levels suitable for each market segment in which it operations.

ITAÚ UNIBANCO HOLDING establishes its credit policy based on internal factors, such as the client rating criteria and portfolio development analysis, the registered default levels, the incurred return rates, and the allocated economic capital; and external factors, related to the economic environment in Brazil and abroad, including market share, interest rates, market default indicators, inflation, and consumption increase/decrease.

ITAÚ UNIBANCO HOLDING’s centralized process for making decisions and establishing a credit policy guarantees the synchrony of credit actions.

To protect the institution against losses arising from loan operations, ITAÚ UNIBANCO HOLDING considers all aspects that determine the client’s credit risk to define the provision level commensurate with the risk incurred in each operation. For each operation, the assessment and rating of the client or economic group, the operation rating, and the possible existence of past-due amounts are taken into account and the volume of the regulatory provision is determined.

ITAÚ UNIBANCO HOLDING recognizes a provision additional to that required by BACEN, aiming at ensuring a provision level compatible with the expected loss model adopted by the institution's credit risk management, based on internal models. This allowance is usually quantified in view of the past performance of loan portfolios, based on exposure, probabilities of default and expected recovery of transactions.

III – Operational risk

For ITAÚ UNIBANCO HOLDING operational risk is defined as the possibility that strategic, tactical or operational objectives are negatively impacted due to uncertain events caused by failures, personnel and systems, or external events. It includes the legal risk, associated with the inadequacy or deficiency in agreements signed by the institution, as well as sanctions for failing to meet legal provisions and compensation for damages to third parties arising from activities performed by ITAÚ UNIBANCO HOLDING.

The purposes of operational risk management is to identify, evaluate, measure and respond to the ITAÚ UNIBANCO HOLDING’s operational risks and monitor them for the purpose of maintaining losses and risks within the limits established by ITAÚ UNIBANCO HODLING and to ensure adherence to the internal guidelines and current regulation. The managers of the business and support areas use corporate methodologies that are built and made available by the operational risk and internal control and compliance areas to support the management process.

Within the governance of the operational risk management process, there are specific operational risk and control forums conducted by the internal control and compliance areas where the consolidated reports on risk monitoring, controls, action plans and operational losses are presented to the business areas executives.

The set of principles, governance, roles and responsibilities, methodologies and procedures that support the operational risk management process applied to products, services, activities, processes and systems is described and published in an operational risk management institutional norm. A summarized version of such policy is available on the website www.itau-unibanco.com.br/ri in the section Corporate Governance, Rules and Policies, Public Access Report – Operational risk.

On April 30, 2008, BACEN published Circular No. 3.383 and Circular Letters Nos. 3,315 and No. 3,316, which establish the criteria for calculation of PRE related to the operational risk (POPR), addressed by Resolution No. 3,490, July 1, 2008. Therefore, since this date, ITAÚ UNIBANCO HOLDING has allocated capital to Operational Risk using the Alternative Standardized Approach.

IV – Liquidity risk

Liquidity risk is defined as the institution’s possibility of not be being able to efficiently meeting its expected and unexpected obligations, both current and future, including those arising from the pledged guarantees, without affecting its daily operations and without incurring significant losses.

Liquidity risk control is carried out by an area independent from the business areas, and which is responsible for defining the constitution of a reserve, proposing assumptions for behavior of cash flow, identifying, assessing, monitoring, controlling and reporting, on a daily basis, the exposure to liquidity risks in different time horizons, proposing limits for liquidity risk and monitoring the established limits, informing on possible noncompliance, considering the liquidity risks individually in countries where ITAÚ UNIBANCO HOLDING operates, simulating the behavior of cash flow under stress conditions, assessing and previously reporting risks inherent in new products and transactions, and reporting information required by regulatory bodies. Every activity is subject to analysis by independent areas of validation, internal controls and audit.

The measurement of liquidity risk covers all financial transactions of ITAÚ UNIBANCO HOLDING companies, as well as possible contingent or unexpected exposures, such as those arising from settlement services, pledge of endorsements and sureties and credit facilities contracted and not used.

The document that expresses the guidelines set forth by the internal policy on liquidity risk management may be viewed on the website www.itau-unibanco.com.br/ri, in the section Corporate Governance, Rules and Policies, Public Access Report - Liquidity Risk.

V - Insurance, Pension Plan and Capitalization Risks

Products that make up the portfolios of ITAÚ UNIBANCO HOLDING’s insurance companies are related to the life, large risks, extended warranty, pension plan and capitalization. Thus, the main risks these portfolios are subject to are underwriting, market, counterparty credit and longevity risk, among others.

Regarding Insurance, Pension Plan and Capitalization, ITAÚ UNIBANCO HOLDING understands that:

· Underwriting risk is the possibility of losses occurring as a result of insurance, pension plan and capitalization operations that contradict the company’s expectations, directly or indirectly associated with technical and actuarial bases used to calculate premiums, contributions and provisions.

· Market risk is the possibility of losses occurring as a result of variations in market values of assets and liabilities that make up actuarial reserves.

· Counterparty credit risk is the possibility of noncompliance, by a certain counterparty, with obligations related to the settlement of operations that involve trading of financial assets or reinsurance.

· Longevity risk is the possibility that pension plans have to pay pensions and superannuation for periods longer than those originally expected.

The management process of insurance, pension plan and capitalization risks is based on responsibilities defined and communicated between the control and business areas, assuring independence between them.

Note 22 –Supplementary information

a) Insurance policy - ITAÚ UNIBANCO HOLDING and its subsidiaries, despite the low risk exposure due to a physical non-concentration of their assets, have the policy to guarantee their valuables and assets at amounts considered sufficient to cover possible claims.

b) Foreign currency – The balances in Reais linked to the foreign currency were:

	09/30/2013			09/30/2012
Permanent foreign investments		26,798,810			19,341,841
Net amount of other assets and liabilities indexed to foreign currency, including derivatives		(43,832,778	)		(31,369,739	)
Net foreign exchange position		(17,033,968	)		(12,027,898	)

The net foreign exchange position, considering the tax effects on the net balance of other assets and liabilities indexed to foreign currency, reflects the low exposure to exchange variations.

c) Investment funds and managed portfolios - ITAÚ UNIBANCO HOLDING, through its subsidiaries, manages the following types of funds: privatization, fixed income, shares, open portfolio shares, investment clubs, customer portfolios and group portfolios, domestic and foreign, classified in memorandum accounts, distributed as follows:

	Amount				Amount (*)				Number of funds
	09/30/2013		09/30/2012		09/30/2013		09/30/2012		09/30/2013		09/30/2012
Investment funds		458,160,572		367,803,287		458,160,572		367,803,287		2,189		3,681
Fixed income		420,122,023		343,064,874		420,122,023		343,064,874		1,821		2,976
Shares		38,038,549		24,738,413		38,038,549		24,738,413		368		705
Managed portfolios		239,777,056		212,328,838		164,286,979		151,723,673		15,414		15,877
Customers		121,024,203		111,815,836		79,250,773		79,672,242		15,354		15,817
Itaú Group		118,752,853		100,513,002		85,036,206		72,051,431		60		60
Total		697,937,628		580,132,125		622,447,551		519,526,960		17,603		19,558

(*) It refers to the distribution after elimination of double-counting of managed portfolios in investment funds.

d) Consortia funds

	09/30/2013		09/30/2012
Monthly estimate of installments receivable from participants		108,487		86,203
Group liabilities by installments		9,076,849		6,410,714
Participants – assets to be delivered		8,405,496		5,949,944
Funds available for participants		785,845		554,504
(In units)
Number of managed groups		849		806
Number of current participants		350,808		264,503
Number of assets to be delivered to participants		205,445		153,320

e) Fundação Itaú Social - ITAÚ UNIBANCO HOLDING and its subsidiaries are the main sponsors of Fundação Itaú Social, the objectives of which are: 1) managing the “Itaú Social Program”, which aims at coordinating the organization’s role in projects of interest to the community by supporting or developing social, scientific and cultural projects, mainly in the elementary education and health areas; 2) supporting projects or initiatives in progress, supported or sponsored by entities qualified to work in the ”Programa Itaú Social” (Itaú Social Program).

During the period from January 1 to September 30, 2013 and 2012 the consolidated companies made no donations and the Foundation’s social net assets totaled R$ 2,787,356 (R$ 3,005,736 at September 30, 2012). The income arising from its investments will be used to achieve the Foundation’s social purposes.

f) Instituto Itaú Cultural – IIC - ITAÚ UNIBANCO HOLDING and its subsidiaries are supporters of Instituto Itaú Cultural - IIC, an entity formed to grant incentives, promote and preserve Brazil’s cultural heritage. During the period, the consolidated companies donated the amount of R$ 53,000 (R$ 47,400 from January 1 to September 30, 2012).

g) Instituto Unibanco - ITAÚ UNIBANCO HOLDING and its subsidiaries sponsor Instituto Unibanco, an entity whose objective is to support projects on social assistance, particularly education, culture, promotion of integration to labor market, and environmental protection, directly and/or supplementarily, through the civil society’s institutions.

h) Instituto Unibanco de Cinema - ITAÚ UNIBANCO HOLDING and its subsidiaries sponsor Instituto Unibanco de Cinema, an entity whose objective is (i) the fostering of culture in general; and (ii) providing access of low-income population to cinematography, videography and similar productions, for which it shall maintain movie theaters owned or managed by itself, and theaters to screen films, videos, video-laser discs and other related activities, as well as to screen and divulge films of great importance, especially those produced in Brazil.

i) Associação Clube “A” - ITAÚ UNIBANCO HOLDING and is subsidiaries sponsor Associação Clube “A”, an entity whose objective is the provision of social services for the welfare of beneficiaries, in the way and conditions established by its Internal Rules, and according to the funds available. These services may include, among others, the promotion of cultural, educational, sports, entertainment and health care activities. During the period from January 1 to September 30, 2013, the consolidated companies made donations to Clube “A” in the amount of R$ 800 (R$ 800 from January 1 to September 30, 2012).

j) Instituto Assistencial Pedro di Perna - ITAÚ UNIBANCO HOLDING and its subsidiaries sponsor Instituto Assistencial Pedro di Perna, an entity whose objective is the provision of social services, stimulate sport activities, and promote recreation, aimed at the welfare of its members, in the way and conditions established by its Internal Rules, and according to the funds available.

k) Exclusions of nonrecurring effects net of tax effects – Holding and Holding Consolidated

	01/01 to 09/30/2013			01/01 to 09/30/2012
Provision for contingencies - Economic plans (Note 12)		(105,587	)		(133,385	)
Market value based on the share price – BPI (Note 13j)		-			(305,447	)
Total		(105,587	)		(438,832	)

l) Agreements for offset and settlement of liabilities in the scope of the National Financial System – Offset agreements were entered into in the scope of derivative contracts, as well as agreements for offset and settlement of receivables and payables pursuant to CMN Resolution No. 3.263, of February 24, 2005, which purpose is to enable the offset of credits and debits maintained with the same counterparty, and in which the maturity dates of receivables and payables can be advanced to the date an event of default by one of the parties occurs or in case of the bankruptcy of the debtor.

m) Subsequent Event

On October 1, 2013 ITAÚ UNIBANCO HOLDING carried out a credit assignment operation with risks and benefits held, in accordance with Resolution No. 3,533/08, totaling R$ 4.3 billion and regards agreements with securitized real estate loans as collateral, with no effect on the consolidated results.

Report on review of interim financial statements

To the Board of Directors and Stockholders

Itaú Unibanco Holding S.A.

Introduction

We have reviewed the accompanying interim financial statements of Itaú Unibanco Holding S.A. stand alone, which comprise the balance sheet as at September 30, 2013 and the related statements of income, changes in stockholders equity’s and cash flows for the nine-month period then ended, as well as the accompanying consolidated interim financial statements of Itaú Unibanco Holding S.A. and its subsidiaries (“Consolidated”), which comprise the consolidated balance sheet as at September 30, 2013 and the related consolidated statements of income and cash flows for the nine-month period then ended, and a summary of significant accounting policies and other explanatory information.

Management is responsible for the preparation and fair presentation of the stand alone and consolidated interim financial statements in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank (BACEN). Our responsibility is to express a conclusion on these interim financial statements based on our review.

Scope of review

We conducted our review in accordance with Brazilian and International Standards on Review Engagements (ISRE 2410- Review of Interim Financial Information Performed by the Independent Auditor of the Entity). A review of interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Brazilian and International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on the stand alone and Consolidated interim Financial Statements

Based on our review, nothing has come to our attention that causes us to believe that the stand alone and the Consolidated interim financial statements referred to above do not present fairly, in all material respects, the financial position of Itaú Unibanco Holding S.A. as at September 30, 2013, and the financial performance and cash flows, for the nine-month period then ended, in accordance with accounting practices adopted in Brazil, applicable to institutions authorized to operate by the Brazilian Central Bank (BACEN).

Other matters

Statement of value added

We also have reviewed the interim statements of value added of Itaú Unibanco Holding S.A. and Itaú Unibanco Holding S.A. and its subsidiaries for the nine-month period ended September 30, 2013, presented as supplementary information. These statements have been submitted to the same review procedures described in the second paragraph above and, based on our review, nothing has come to our attention that causes us to believe that these statements are not prepared consistently, in all material respects, with the interim financial statements taken as a whole.

São Paulo, October 28, 2013

PricewaterhouseCoopers

Auditores Independentes

CRC 2SP000160/O-5

Paulo Sergio Miron

Contador CRC 1SP173647/O-5

ITAÚ UNIBANCO HOLDING S.A.

CNPJ. 60.872.504/0001-23 Listed Company NIRE. 35300010230

OPINION OF THE FISCAL COUNCIL

The members of the Fiscal Council of ITAÚ UNIBANCO HOLDING S.A., having examined the financial statements for the period from January to September 30, 2013, have verified the accuracy of all items examined and, in view of the unqualified opinion of PricewaterhouseCoopers Auditores Independentes, understand that they adequately reflect the company’s capital structure, financial position and the activities conducted during the period.

São Paulo, October 28, 2013.

ALBERTO SOZIN FURUGUEM

Member

LUIZ ALBERTO DE CASTRO FALLEIROS

Member

JOSÉ CARUZO CRUZ HENRIQUES

Alternate Member