Unidentified Analyst: Actually, I just have one. I was following the conference call in Portuguese and I just wanted basically to shift the conversation here to the regulatory front in Brazil. First, I would like to hear from you about the FGTS loans because A lot of noise emerged during these recent weeks related to the termination of the products. So I just wanted to hear from you about what does the bank, I mean, think about the future of this product, the cash loans? And if you could share with us what is the market share of Bradesco in terms of origination of this product, it would be helpful. And a follow-up on this. I would like to know more about the government program called Disney Hall, I mean I just wanted to hear from you as well what does Bradesco understand about how will be the shape of this program, the format of this program for renegotiating loans from loan income segments?
Carlos Firetti: Okay. Olavo , related to the loan. I’d say, in theory, it was a good product but there is not much at all much to say. I think there was a regulatory change. It will not existing more. We haven’t played in this segment on a material way. We have some loans in Digio but it’s a very, very small portfolio. So it’s not operations which we have done anything in the bank. And as I said, our portfolio considering what Digio was doing and what is very small. Can you remind me about your second question is renegotiation?
Unidentified Analyst: Yes. The government program, call it related to the renegotiation. Do you have any comments about it?.
Carlos Firetti: Yes. We still have to hear more about what is the final shape of this program. It’s still under discussions. I think the banks are talking with the government. But probably the program involves more than only banking loans. It probably will involve utility bills and other debt. We believe it is potentially a good idea. And the fact that there would be some sort of guarantee to create an incentive for doing it if it is well structured. So we are looking at it and we think it’s an interesting idea but still not much in concrete to talk about, I would say.
Operator: Our next question comes from Gilberto Garcia with Barclays.
Gilberto Garcia: I had a couple of follow-ups, first, on allowances. You mentioned that they should be more firm low higher in the first half. Can you give us a sense of that magnitude like how much should we expect, say, in the first quarter?
Carlos Firetti: Gilberto, I’d say we’re not going to provide quarterly or partial guidance on the provisions. I think, overall, I think it was fair to give this guidance but that view of what would be kind of the flow of these provisions. But as I said, it should be more in the first half than in the second half. Also because, as I said, we believe NPLs might be peaking around the second half other part of the provisions happening in the first half.
Gilberto Garcia: Okay. No, that’s fair. And on market NII. As you mentioned, it is moving in the right direction. Do you expect it to be positive for the full year?
Carlos Firetti: Again, we moved our guidance to total NII, Gilberto. The idea is really focusing on the total NII. As I said, we have the guidance for total NII between 7% and 11%. What is implicit there and is that market NII improves throughout the year with the asset liability management, getting bad getting improving in the second half but I will not provide guidance for the parts of the margin anymore. But as I said, we are going to continue reporting them. But just for modeling and for the analysts to follow it.
