1

Consolidated Resultsfor the Period EndedDecember 31, 2001

Conference CallFebruary 22, 2002

2

Net Income and EquityNet Income and Equity

Net Income (R$ million) 241 300 183 (19.7)% 31.7%

Earnings/1000 shares (R$) 1.72 2.15 1.49 (20.0)% 15.4%

Equity (R$ million) 6,072 6,065 5,504 0.1% 10.3%

ROAE (%) 16.8 21.9 17.6 - -

ROAA (%) 1.7 2.1 1.7 - -

Basle Ratio (%) 13.7 13.3 16.5 - -

YoY%QoQ% 4Q00 3Q014Q01

Note: Basle Ratio according to the Central Bank of Brazil.

3

Managerial Impact of Investments Abroad Managerial Impact of Investments Abroad

In R$ million

Exchange rate fluctuation on investments abroad (324.7) 310.6 125.2

Hedge on investments abroad 188.2 (141.8) (46.5)

Managerial net impact (136.5) 168.8 78.7

Opportunity Cost (73.8) (75.7) (64.5)

Managerial impact of investments abroad (210.3) 93.0 14.2

4Q01 3Q01 2Q01

4

Net Income and EquityNet Income and Equity

Net Income (R$ million) 972 739 31.5%

Earnings/1000 shares (R$) 6.95 6.02 15.4%

Equity (R$ million) 6,072 5,504 10.3%

ROAE (%) 16.8 17.5 -

ROAA (%) 1.8 1.8 -

Basle Ratio (%) 13.7 16.5 -

YoY% 20002001

Earnings per 1000 shares - R$

2.99

4.38 4.585.57 6.02

6.95

1996 1997 1998 1999 2000 2001

CAGR = 18.4%

15%

5

Exchange rate fluctuation on investments abroad 281.9

Hedge on investments abroad (77.9)

Managerial net impact 204.0

Opportunity cost (291.3)

Managerial impact of investments abroad (87.3)

2001

Managerial Impact of Investments Abroad - 2001 Managerial Impact of Investments Abroad - 2001

In R$ million

6

Loan PortfolioLoan Portfolio

In R$ million

YoY%QoQ%Dec/00Sep/01Dec/01

4,912 4,505 3,422 9.0% 43.5%495 479 507 3.3% (2.4)%799 853 948 (6.3)% (15.7)%

2,947 2,505 2,367 17.6% 24.5%

General Purpose Lending Trade Finance

Consumer CreditReal EstateLeasingCredit Cards

12,914 12,647 10,569 2.1% 22.2%

3,291 3,847 3,802 (14.5)% (13.4)%

Subtotal 16,205 16,494 14,371 (1.8)% 12.8%

Subtotal 9,153 8,342 7,244 9.7% 26.4%

Total 25,358 24,836 21,615 2.1% 17.3%

7

Total GrowthUnibanco + Bandeirantes

Fininvest/Credi Luiza andInvestcred

Sep/01 Dec/01Dec/00

23,844

23,801

25,457

25,827

1,613

22,148

2,026

14.9%

1.5%16.6%

Note: Investcred and Magazine Luiza consolidated from December 2001.

In R$ million

20,695

1,453

Fininvest: R$ 1,690 MMCredi Luiza: R$ 45 MMInvestcred: R$ 291 MM

Loans and GuaranteesLoans and Guarantees

8

41%

59%

42%

58%

WholesaleBanking

RetailBanking

R$ 22.1 Billion R$ 25.8 Billion16.6%16.6%

Retail + 19% Wholesale +16%Retail + 19% Wholesale +16%

December 2000 December 2001

Loans and Guarantees Breakdown Loans and Guarantees Breakdown

WholesaleBanking

RetailBanking

9

1%

3%

5%

7%

52%

4%

4%3%

20%

54%1%

3%5%

7%

19%

2%7%

3%

Individuals 35%

Corporate 65%

Large Corporate Small Companies CredicardCartão UBBMiddle Market

Companies FininvestCommercial Portfolio

Private

R$ 22.1 billion R$ 25.8 billion

Individuals 34%

Corporate 66%

December 2000 December 2001

Loans and Guarantees Breakdown Loans and Guarantees Breakdown

10

91%91%91%

24,90123,473

22,148

Dec/00 Mar/01 Jun/01

% AA - C Total Portfolio (R$ million)

91%

Sep/01

25,457

91%

Dec/01

25,827

Credit Quality (Loans and Guarantees)Credit Quality (Loans and Guarantees)

11

Unibanco consolidated excluding Fininvest/Credi Luiza and Investcred

Unibanco Consolidated

3.02.8

4.1 4.1

3.03.02.83.2

3.53.4

4.23.8

4.1

1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01

%

Over 60 Days Past Due Credits / Total LoansOver 60 Days Past Due Credits / Total Loans

12

AA - C Portfolio of Loans and Guarantees AA - C Portfolio of Loans and Guarantees

93% 93% 92% 92%

91% 91% 91% 91%

86% 85% 85%

87%

82%

80% 80%

83%

Mar/01 Jun/01 Sep/01 Dec/01

Multiple Bank Unibanco Consolidated

Cartão UBB/Credicard Fininvest/Credi Luiza and Investcred

13

Allowance for loan losses (opening balance) 1,564 1,654 1,172 1,484 972

Expenses with provision for loan losses 489 346 365 1,650 1,242

Balances included/adjusted 38 - 406 38 491

Loan charge-offs (553) (436) (459) (1,634) (1,221)

Allowance for loan losses (closing balance) 1,538 1,564 1,478 1,538 1,484

Net write-off / Total loans and guarantees 1.4% 1.3% 1.7% 4.6% 3.8%

Loan recovery 180 104 89 440 383

Loan Loss ProvisionsLoan Loss Provisions

20014Q003Q01 2000

In R$ million

4Q01

14

Funds in Local Currency 32,492 31,755 29,640 2.3% 9.6%

Funds in Foreign Currency 10,775 12,761 10,250 (15.6)% 5.1%

Total Funds 43,267 44,516 39,890 (2.8)% 8.5%

Assets Under Management 20,398 19,868 20,467 2.7% (0.3)%

Total Funds+Assets Under Mgt. 63,665 64,384 60,357 (1.1)% 5.5%

FundingFunding

QoQ% Dec/00Sep/01 YoY%

In R$ million

Dec/01

15

DepositsDeposits

Demand Deposits 2,403 2,295 2,392 4.7% 0.5%

Savings Deposits 4,734 4,208 3,706 12.5% 27.7%

Interbank Deposits 158 222 199 (28.8)% (20.6)%

Time Deposits 11,637 9,741 7,053 19.5% 65.0%

Total Deposits 18,932 16,466 13,350 15.0% 41.8%

YoY%QoQ%Dec/00Sep/01Dec/01

The industry growth was

8.1% over the last twelve

months

The industry growth was

8.1% over the last twelve

months

6,4536,164

6,098

4,373

Sep/00

7,137

Dec/00 Mar/01 Jun/01 Dec/01

Core Deposits (Demand Deposits + Savings) - R$MM

63%39%

17%

In R$ million

16

Securities Portfolio - local currency 8,280 7,420Securities Portfolio - foreign currency 7,075 7,492Total Securities Portfolio 15,355 14,894

Loan Portfolio (net) - local currency 17,351 16,007Loan Portfolio (net) - foreign currency 6,469 7,265Net Loan 23,820 23,272

Deposits - local currency 17,272 14,911Deposits - foreign currency 1,660 1,555Total Deposits 18,932 16,466

Notes and debentures - local currency 478 457Notes and debentures - foreign currency 2,819 3,441Total Notes and debentures 3,297 3,898

Borrowings and onlendings - local currency 4,331 3,979Borrowings and onlendings - foreign currency 5,420 6,667Total Borrowings and onlendings 9,751 10,646

Dec/01 Sep/01

In R$ million

Main Assets & Liabilities in Foreign and Local CurrencyMain Assets & Liabilities in Foreign and Local Currency

17

BIS RatioBIS Ratio

- Risk average assets growth (3.0)% 0.2%

- Changes in the swap credit risk (0.1)% 0.0%

- Changes in market riskForeign exchange position (0.7)% 0.4%Interest rate (0.1)% (0.1)%

- Adjusted equity growth 1.3% (0.1)%(mainly net income)

- Other effects (0.2)% 0.0%

BIS Ratio (opening ratio) 16.5% 13.3%

BIS Ratio on December 31, 2001 13.7% 13.7%

2000/2001

3Q01/4Q01

18

%

19%

2%

11%

11%

Net Income 26%

ROAE

1S01

2,454

(815)

1,037

(1,882)

431

15.8%

2S01

2,932

(835)

1,148

(2,081)

541

19.1%

(before loan loss provisions)Profits from financial intermediation

Loan Loss Provisions

Fee Income

Personnel & Adm. Expenses

In R$ million

Consolidated ResultsConsolidated Results

-

19

12.6% 12.0%

9.9% 10.7%

1998 1999 2000 2001

Net Financial MarginNet Financial Margin

20

Fee IncomeFee Income

200020013Q01

Tariffs & Commissions 283 273 228 1,073 802

Credit Cards 243 226 180 864 619

Asset Management 62 61 62 248 219

Total 588 560 470 2,185 1,640

In R$ million

4Q004Q01

21

200020013Q01 4Q004Q01

Multiple Bank UBB+Band 615 655 593 2,461 2,020

Multiple Bank ContAtiva 32 29 2 100 2

Sub-Total UBB + Bandeirantes 647 684 595 2,561 2,022

Fininvest (50% up to Nov/00) 115 95 59 393 164

Other Subsidiaries & Affiliates 248 292 239 1,009 816

TOTAL 1,010 1,071 893 3,963 3,002

Unibanco Consolidated, Bandeirantes and Fininvest pro-forma

Multiple Bank UBB+Band 647 684 757 2,561 2,637

Fininvest (100%) 115 95 118 393 328

Other Subsidiaries & Affiliates 248 292 239 1,009 816

TOTAL 1,010 1,071 1,114 3,963 3,781

Personnel and Administrative ExpensesPersonnel and Administrative ExpensesIn R$ million

22

Pro-forma Administrative ExpensesPro-forma Administrative Expenses

3,002

615

164

615

2,022

2,6372,561

3,7813,963

26.6%

(2.9)%

32.0%

4.8%

Pro-forma2000

2001 2001

Reported Bandeirantes non-consolidated

50% Fininvest non-consolidated

Multiple Bank UBB + BAND Consolidated

Pro-forma2000

In R$ million

23

1,071Total

Consolidated

4Q01 vs. 3Q01

Fininvest +20 21.0%

115

4Q01

3Q01Multiple Bank+

Bandeirantes 647

684

-61

-5.7%

Other Companies -44 -15.1%

Personnel & Adm. Expenses Main Changes Personnel & Adm. Expenses Main Changes

In R$ million

655

ContAtiva

29

615 32

4Q01

3Q01 95

4Q01

3Q01 292

248

4Q01

3Q01

1,010

-37

-5.4%

24

Fee Income / Personnel & Adm. ExpensesFee Income / Personnel & Adm. Expenses

4Q00 3Q01 4Q01

Fee Income / Personnel and Administrative Expenses

Personnel and Administrative Expenses

Fee Income

R$

mil

lio

n58.2%

893

1,071

470 560

52.7% 52.3%

588

1,010

25

Efficiency RatioEfficiency Ratio

Number of Employees

4Q00

64.7%

Efficiency Ratio*

4Q01

58.4%

2000

28,384

60.0%

2001

58.0%

29,704

(1) (Personnel Expenses + Other Administrative Expenses) / (Net Income from Financial Intermediation + Provisions for Loan Losses + Fee Income + Insurance, Capitalization and Pension Plans Premiums + Changes in technical provisions for insurance, capitalization and private retirement plans + Claims + Private Retirement plans benefits expenses + Selling and other insurance and private and private retirement plans expenses expenses + Credit card selling expenses + Taxes + Other Operating Income - Other Operating Expenses)

26

StrategyStrategy

Client BaseClient Base Productper Client

Productper Clientx

Organic

Growth

(ContAtiva)

Organic

Growth

(ContAtiva)

Acquisitions

- Bandeirantes

- Fininvest

- Ponto Frio

- Magazine Luiza

Acquisitions

- Bandeirantes

- Fininvest

- Ponto Frio

- Magazine Luiza

Cross Selling

- DBM

- CRM

Cross Selling

- DBM

- CRM

27

Goals for Dec, 2001

16 new branches35 Corporate-site branches

30 In-Store Branches

Attrition : 18 % p.y.

Average Activation : 90%

765,000 new accounts

Goals for Dec, 2001

16 new branches35 Corporate-site branches

30 In-Store Branches

Attrition : 18 % p.y.

Average Activation : 90%

765,000 new accounts

Actual in Dec, 2001

19 new branches54 Corporate-site branches

58 In-Store Branches

Attrition : 15 % p.y.

Average Activation : 95%

997,269 new accounts

Actual in Dec, 2001

19 new branches54 Corporate-site branches

58 In-Store Branches

Attrition : 15 % p.y.

Average Activation : 95%

997,269 new accounts

Organic Growth Plan - ContAtivaOrganic Growth Plan - ContAtiva

28

• Branch integration fully completed by October 2001

• Estimated reduction of 35% of Banco Bandeirantes’

annual costs, was exceeded reaching 42% at the end of 2001

Banco Bandeirantes’ IntegrationBanco Bandeirantes’ Integration

29

Scale GainScale Gain

99

3.73.5

98 00

4.0

3.0

7.7

0.7

01

4,9

3.9

0,2

Client Base - (in millions)

5.2

2.9

1.1

13.1

Note: Includes savings and retirees. In Dec/01 Bandeirantes fully migrated.

30

Banking Population: Income DistributionBanking Population: Income Distribution

9 million individualsIncome > R$ 1,000/month

Income < R$ 1,000/month

21 million individuals

Focus on

Household Brands

31

(Annual Sales < R$5 MM)

Lower Middle Market

Small Business

Wholesale Retail

(R$5 MM < Annual Sales < R$25 MM)

(R$1,300 < Monthly Income < R$4,000 )

(R$350 < Monthly Income < R$1,300)

INDIVIDUALSCORPORATE

Large Companies

(Annual Sales > R$100 MM)

Private Banking

(Financial Investment > R$1,000,000)

Exclusive Client

Upper Middle Market(R$25 MM < Annual Sales < R$100 MM)

Special Client

Banco 1 (Virtual Bank)

(Montly Income > R$ 800 )

Uni Class

(Monthly Income > R$4,000 )

Payroll

Private

SegmentationSegmentation

32

Uni Class 5.9 5.8 6.1

Exclusive 4.6 4.9 5.3

Special 3.7 3.7 4.2

Total 4.7 4.8 5.2 Total 4.7 4.8 5.2

Average Product per ClientSegment

Jun/00 Jun/01 Dec/01

Scale = Volume x Transactions

< 1 year = 4.7 > 1 year = 5.3

Database Marketing - Number of Products per Client Database Marketing - Number of Products per Client

33

Wholesale Banking Rankings and Market SharesWholesale Banking Rankings and Market Shares

Market Segment Dec/00 Dec/01 Ranking

Underwriting RF 19% 19% 1st

BNDES onlending 9% 11% 1st

BNDES Exim 12% 14% 1st

Compror/Vendor 15% 19% 3 rd

Together, Private Banking and UAM will form Wealth Management segment

Together, Private Banking and UAM will form Wealth Management segment

Market Share

34

Insurance IndicatorsInsurance Indicators

Net Premiums Written - R$ million Combined Ratio - %

1,148

1,413

22,980

23,899 (E)

2000

2001

101.1

99.6

106.2

103.0

Claims - %

UASEG MARKET

63.4

66.2

63.060.9

62.360.6

63.9 55.6 64.4

68.267.3 68.765.5 66.9 67.5 68.1

1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01

35

Ranking Product

2001

1st Fire

1st Ocean Marine

1st Petrochemical

1st Aircraft

1st D & O

1st Extended Warranty

2nd Home Owners

Insurance IndicatorsInsurance Indicators

36

AcknowledgementAcknowledgement

• First Brazilian company to obtain a corporate governance rating: graded 8.4 ranking on a 1 to 10 scale by SR Rating

• One of the 4 Brazilian companies selected to join the Dow Jones

Sustainability Index (DJSI)

• Latin America Top 5 IR Site Award, sponsored by Latin Finance

Magazine and MZ Consult.

37

For further information contact our Investor Relations Area at

phone: 5511-3097-1626 / 1313fax: 5511-3813-6182

email: investor.relations@unibanco.com.brsite: www.unibanco.com(select Investor Relations option)