TEXT-Fitch expects to rate Banco Pine notes 'BB(exp)'

(The following statement was released by the rating agency)

May 25 () - Fitch Ratings expects to assign a 'BB(exp)' rating to Banco Pine
S.A.'s (Pine) upcoming issue of Swiss franc denominated (CHF) senior
unsecured notes with a maturity of two and a half years (30 months).

The notes will be issued through Pine's Grand Cayman Branch; the amount of the
notes will be for approximately CHF 100,000,000, and the interest rate will be
set at the time of the issuance. Principal will mature in December 2014, and
interest payments will be made in December 2012 and annually commencing in June
2013. The net proceeds will be used by Pine for to support its lending activity.
The final rating is contingent upon the receipt of final documents conforming to
information already received.

The expected rating assigned to Banco Pine's new issuance corresponds to the
Fitch's Issuer Default Ratings (IDRs) for the bank and ranks equal with other
senior unsecured debt.

Pine's long-term local currency IDR of 'BB' with a Stable Rating Outlook,and its
long-term foreign currency IDR of 'BB' are driven by the bank's strengths. These
include Pine's continued diversification of its funding profile, its good asset
and liability management allied with a good liquidity position which supports a
consistent profitability, good asset quality and strong capitalization ratios

Founded in 1997, Banco Pine is a midsized bank which focuses on the upper-middle
and lower corporate segments. The bank is controlled by Noberto Pinheiro and has
been listed on the Sao Paulo Stock Exchange since 2007.

Contact:

Primary Analyst
Eduardo Ribas
Associate Director
+55-11-4504-2213
Fitch Ratings Brazil Ltda
Alameda Santos,700 Seventh Floor
Sao Paulo, SP, Brazil

Secondary Analyst
Robert Stoll
Director
+1-212-908-9155

Committee Chairperson
Ed Thompson
+1-212-908-0364
Senior Director

Media Relations: Brian Bertsch, New York, Tel: +1 212-908-0549, Email:
brian.bertsch@fitchratings.com; Elizabeth Fogerty, New York, Tel: +1 (212) 908
0526, Email: elizabeth.fogerty@fitchratings.com.

Additional information is available at 'www.fitchratings.com'. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Global Financial Institutions Rating Criteria' (Aug. 16, 2011).

Applicable Criteria and Related Research:
Global Financial Institutions Rating Criteria

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