Banks and insurers — the financial intermediation chart of accounts

Why a separate treatment

A bank and a financial intermediation insurer do not have the same chart of accounts as an ordinary company. In CVM's DFP, the same numbering means something else: a bank's 3.01 is financial intermediation revenue (not "sales revenue"), 3.03 is gross result of intermediation, and there is no EBIT — the income statement goes from the intermediation result straight to pre-tax income.

That is why the indicators that define an industrial company do not apply to a financial institution, and this database does not invent them for it.

How the type is decided

By the actual chart of accounts, not by the sector in the registry (which gets it wrong: Porto Seguro is listed under "Insurers" but uses the ordinary chart, with revenue and EBIT). The rule reads the text of 3.01 in the DRE:

• contains "Intermediação Financeira" (financial intermediation) → bank
• contains "Atividades Seguradoras/Resseguradoras" (insurance/reinsurance activities) → insurer
• otherwise → general (ordinary chart — the standard pipeline already works)

The tipo field of each company comes in /empresas and in /empresas/{ticker}/indicadores.

What is extracted (and why by label-based extraction)

The cd_conta (account code) of shareholders' equity and of net profit varies across institutions — equity is 2.03 at IRB, 2.07 at Banco do Brasil and 2.08 at Itaú; profit is 3.11 at Bradesco and 3.09 at Itaú. So these two are picked up by label ("Patrimônio Líquido Consolidado", "Lucro ... Consolidado") — that is, label-based extraction: since the account code varies by institution, the value is found by matching the account's text label — not by a fixed code — and the account chosen is recorded in origem, auditable. The stable items (total assets 1, financial intermediation revenue 3.01, gross result 3.03, pre-tax income (LAIR) 3.05, income tax 3.06) go by code.

Published indicators

ROE uses consolidated shareholders' equity (which includes non-controlling interests, generally not broken out by banks in this statement) — hence the flag pl_consolidado_inclui_minoritarios.

What is NOT published for a bank — and why

ROIC, EBIT, EBITDA, gross margin, EBIT margin, EV/EBITDA, net debt/EBITDA. None of them has economic meaning for a financial institution: there is no "invested capital" in the industrial sense (debt IS the business), there is no EBIT nor relevant D&A, and a bank's "net debt" is not leverage in the classic sense. Publishing those numbers would mean handing over a meaningless result — this database prefers the honest absence.

Declared limitations

• Insurance holdings (e.g. BB Seguridade) may have revenue outside the standard intermediation 3.01; in those cases margin and growth come out null, but the ROE (from profit and equity) remains valid.
• Prudential ratios (Basel, efficiency ratio, non-performing loans) are not covered: they do not come from CVM's standard DFP. The scope here is what the DFP delivers in an auditable way.