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Sao Paulo
 Letter to Shareholders
 80 Years
 2004 Highlights
 Performance Overview
 Reach
 Business Units
 Intangible Assets
 Corporate Governance and Stocks
 Social Responsibility
 Unibanco Holdings
 Corporate Information
 Financial Statements
Net Income and Stockholders' Equity
 
In 2004, Unibanco reached R$1,283 million in net income, up 22% over 2003. Stockholders' equity rose by 13.3% to R$8,106 million at year-end 2004. Annualized return on average equity (ROAE) also improved throughout the year, exceeding 20% on the fourth quarter.

Operating income reached R$1,961 million, representing a CAGR of 26.6% since the year 2000.

The bank paid a gross total of R$527 million (R$448 million net) in interest on capital stock during the year, considering an additional provision of R$28 million; the increase over 2003 disbursements was 23.7%. The 2004 outlays were split into two payments, of R$240 million and R$259 million in July 2004 and January 2005, respectively.


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