Minute No. 570
1. Date, time and place: the ordinary meeting of the Board of Directors of Banco do Estado do Rio Grande
do Sul SA (Corporate Tax Payer’s (CNPJ) No. 92.702.067/0001-96 - NIRE No. 43300001083) held on
March 03, 2015, at 02:00 pm, at the Company’s head office at Rua Capitão Montanha, 177, 4th floor, Porto
Alegre - RS.
2. Verification of attendance: Odir Alberto Pinheiro Tonollier – Chairman; Túlio Luiz Zamin – Vice-Chairman;
Aldo Pinto da Silva; Dilio Sérgio Penedo, Guilherme Cassel, João Acir Verle, Juçara Maria Dutra Vieira
and Marcelo Tuerlinckx Danéris - Members; João Acir Verle – Member of the Audit Committee; Guilherme
Cassel – Chief Credit Officer; Werner Kohler - Executive Superintendent of the Accounting Unit; Noeli
Perineto Pontel – Executive Manager in the Accounting Unit; José Luís Campani Lourenzi – Executive
Superintendent of the Corporate Risk Management Unit; Luis Carlos Demartini – Executive Manager in the
Corporate Risk Management Unit; Maria Aparecida Vidal – Controller and Sheila Lisandra Nunes –
Banrisul’s Ombudsman.
3. Agenda: 3.1) Consolidated Financial Statements in IFRS - December/2014, 3.2) Allocation of Net Income,
Capital Increase and Dividend Distribution Proposal.
4. Deliberations: 5.1) Consolidated Financial Statements in IFRS - December/2014: after the
explanations of Mr. Werner Köhler, the Board examined and approved of the Financial Statements of
December 31, 2014 in IFRS, , which presented net profit of R$621.0 million; 5.2) the Board of Directors
approved of the following documents, to be submitted to the next General Meeting of Shareholders: a)
Allocation of Net Income: allocation of net income for the year ended December 31, 2014, in the amount
of R$691,415,413.02 (six hundred ninety-one million, four hundred and fifteen thousand, four hundred and
thirteen reais and two cents) which, after the completion of Asset Valuation Adjustments related to postemployment benefits, resuted in the total net income of R$607,787,413.02 (six hundred and seven million,
seven hundred and eighty-seven thousand, four hundred and thirteen reais and two cents). The distribution
proposal includes the following items: Legal Reserve Constitution: R$30,389,370.66; Statutory Reserve
Constitution: R$151,946,853.26; Expansion Reserve Constitution: R$144,617,942.24; Interest on Capital:
R$268,806,271.57; Proposed Dividend: R$12,026,975.29; b) Capital Increase: increase in the amount of
R$250,000,000.00 (two hundred and fifty million reais), with Capital increasing from R$4,000,000,000.00
(four billion reais) to R$4,250,000,000.00 (four billion, two hundred and fifty million reais) with the use of
R$144,617,942.24 (one hundred forty-four million, six hundred and seventeen thousand, nine hundred and
forty-two reais and twenty-four cents) from the Expansion Reserve and R$105,382,057.76 (one hundred
and five million, three hundred eighty-two thousand, fifty-seven reais and seventy-six cents) from Statutory
Reserve, without the issuance of new shares; c) Dividend Distribution Proposal: to be maintained the
current pay-out policy at the percentage of 40% (forty percent),for the year 2015, with 15% (fifteen percent)
as extraordinary dividends, as permitted by Law 6404/76, , as proposed by the Board.
CERTIFICATE
I certify that this record is a true copy of which appears in the Minute no. 570, dated March 03, 2015, entered in the
book of Minutes of Board of Directors of Banco do Estado do Rio Grande do Sul SA, signed by Odir Alberto Pinheiro
Tonolllier – Chairman; Túlio Luiz Zamin – Vice-Chairman; Aldo Pinto da Silva; Dilio Sérgio Penedo; Guilherme
Cassel; João Acir Verle, Juçara Maria Dutra Vieira and Marcelo Tuerlinck Danéris – Members of the Board of
Directors.
Porto Alegre, March 05, 2015
Túlio Luiz Zamin
Vice-Chairman