Ivan Gontijo: So, Juan, we’re below the guidance in terms of fees, and this is a business that really struggles with regulation, governmental decisions, the central bank’s decisions. There’s some asymmetry in that sense. And sometimes a lot of dissemination on social media for fees to be cancelled because there’s the essential package by the central bank. So there’s always a lot of offenders for us to grow. In order to grow in fees, there’s no other way other than growing in volume, increasing client base, strongly increase the bank’s client base, and that’s what we’ve been doing. I mentioned briefly about the grow in accounts open on mobile, even the accounts on Macs, there’s 4,000 accounts per day. And in all these cases, seeking to generate benefits for the client, so that they see that the fee is not just an expense that they have, but that the fee will bring them additional benefits.
So they pay the fee, for example, to have a subscription of a streaming channel or maybe Disney Channel, or Disney Plus rather, and some partnerships that we’re making to make this fee more attractive for the client, so that they can perceive not only the work behind and the quality of the services provided by the bank, but also additional benefits to our clients so that we can retain them, and that’s a good point. The fiscal asset has been doing a good job increasing their portfolio and the assets managed there with new funds, with performance rates, with administration fees due to the reduction of interest rates in the past. Administration fees went down, but once interest rates went up, administration fees did not increase and they won’t increase, so you need to work with other funds that include a performance fee, because that’s how you can get additional revenue, and [BRAM] has been developing good work in that sense with credit funds that stand out in the market.
So to summarize, one, I tell you that we need to gain scale. We need to get more clients, more products and services to be able to add products and services that have a high perception of value for our customers, and that’s how we can think about fees. So it is a challenging guidance, but we understand that, considering this greater volume that grow on client base and fees that come from other areas in the bank, we understand it is possible for us to seek at least a lower level of the guidance in fee revenue. Another important point that you mentioned earlier with Thiago, in the capital market operations, we understand there’s strong attraction in that in the second half of the year, and that has been contributing to our fee income. July was very good.
We also need to look at high income and cards spend has also been working well. And [Tibio], that’s an association that we formed recently with Banco do Brasil that adds that other work that you mentioned about BRAM. So, all of these aspects, and we cannot forget an important point, one, which is credit. If the credits are retracted, the fee revenue also retracts. And now, as Octavio said, now we’ll be more comfortable to seek at least a lower level of the guidance. Thank you, Juan.
Operator: No. we still have a very long list of questions, so there’s much responsible. Please limit yourselves to just one question. Next question from Eduardo Rosman with PTG.
Eduardo Rosman: Hello, good morning. Actually, I’d like to ask a follow-up question regarding the insurance company. I’d read the results. It was very solid. It surprised positively everyone. We were expecting weaker results, albeit with some improvements. It was not 100% clear to me, because there was a big difference quarter-on-quarter. In that leap, is it the new bottom line level for the insurance group looking forward? Or could we expect more improvement? I just would like to have a clearer notion regarding that?
Octavio de Lazari: Ivan, can you answer Eduardo’s question? Just to confirm your previous answer regarding additional provisions, as you mentioned, and then I will add something.
