Pine announced consolidated and company earnings results for the fourth quarter and year ended December 2016. For the quarter, on managerial basis, the company reported income from financial intermediation of BRL 208 million compared to BRL 215 million a year ago. Operating loss was BRL 16 million compared to BRL 5 million a year ago. Loss before taxes and profit sharing was BRL 12 million compared to BRL 2 million a year ago. Net loss was BRL 9 million compared to income of BRL 10 million a year ago. For the year, on managerial basis, the company reported income from financial intermediation of BRL 609 million compared to BRL 1,785 million a year ago. Operating loss was BRL 72 million compared to BRL 66 million a year ago. Loss before taxes and profit sharing was BRL 53 million compared to BRL 59 million a year ago. Net loss was BRL 14 million compared to income of BRL 41 million a year ago. For the quarter, on company basis, the company reported income from financial intermediation of BRL 211 million compared to BRL 230 million a year ago. Operating loss was BRL 13 million compared to income of BRL 10 million a year ago. Loss before taxes and profit sharing was BRL 9 million compared to income of BRL 12 million a year ago. Net loss was BRL 9 million compared to income of BRL 10 million a year ago. Annualized negative ROAE was 3.1% compared to ROAE of 3.6% a year ago. Annualized negative ROAAw was 0.6% compared to ROAAw of 0.6% a year ago. Loss per share were BRL 0.08 compared to BRL 0.09 earnings per share a year ago. LBIT was BRL 9 million compared to EBIT of BRL 12 million a year ago. Reconciled LBIT was BRL 12 million compared to BRL 2 million a year ago. For the year, on company basis, the company reported income from financial intermediation of BRL 674 million compared to BRL 1,721 million a year ago. Operating loss was BRL 6 million compared to BRL 131 million a year ago. Income before taxes and profit sharing was BRL 13 million compared to loss of BRL 123 million a year ago. Net loss was BRL 14 million compared to income of BRL 41 million a year ago. Annualized negative ROAE was 1.2% compared to ROAE of 3.4% a year ago. Annualized negative ROAAw was 0.2% compared to ROAAw of 0.5% a year ago. Loss per share were BRL 0.12 compared to BRL 0.36 earnings per share a year ago. As at December 2016, the company’s book value per share was BRL 9.85 per share compared to BRL 10.09 per share a year ago. EBIT was BRL 13 million compared to LBIT of BRL 123 million a year ago. Reconciled LBIT was BRL 53 million compared to BRL 59 million a year ago.