Milton Maluhy Filho: Okay, disclaimer. My disclaimer. Okay, I’m going to start with that. Okay, our numbers, our indicators, our bank, et cetera, these have been important. Second disclaimer, I’m not really going to go into performance, relative performance vis-Ã -vis others. You have the numbers, you know what’s happening, you know how to assess this, in fact, better than I do. And I respect our competition. I highly respect our competition regardless of where we are at different moments in time. It’s a marathon. And it’s an ongoing marathon. There’s no end. It’s not something that ends next quarter. It’s ongoing, ongoing, we’re going to run, we’re running, we’re running, we’ll never reach the finish line. Now going back to performance.
Our digital transformation has been very critical for the bank, no doubt about it. The speed of change that we have implemented and the features has been phenomenal, how quickly we’ve changed our systems, how fast we’ve simplified things, how we’ve made them interoperable, the cost of serving our customers and the quality of the new solutions, all of this together has been incredible and translates to a wonderful NPS. It’s not just digital transformation. It’s cultural transformation, this customer focus, obsessed with the customer, all of this has resulted in customer satisfaction. So it’s a number of factors that have led to these positive numbers and these positive results. And yield and NPS go hand in hand. You can’t have high sustainability, you can’t have a product that’s not sustainable and then get an NPS.
We work with sustainable products, sustainable solutions that maximize yield and maximize satisfaction of our customers. So they work hand in hand together. So I have no doubt that digital transformation has been absolutely critical in the evolution of the bank and how we work and how we work with our customers. There are lots of communities in our bank. If you don’t have the digitalized platforms and all the components in place, you’re not going to get the speed you need. So you’re going to have people. You have agile people, but they don’t have the agile tools, you’re not going to be able to deliver on your promises. So the NPS reflects that we have about 20,000 people in our community, over 2,000 squads, that just shows how relevant the agile system is in our company.
So why has our performance led to these wonderful results? Very positive, very high. It’s because we’re a full bank. I insist on this from the beginning, full bank is not just being present in the different sectors and areas. That’s not what it means. It means managing these and understanding where you’re operating. And because of our dedication and because of our investment and our focus over many years, we’ve been relevant in a number of businesses. We’ve been able to perform in a number of areas. We were talking about wholesale. Itaú BBA, very important in these results. It’s not just commercial. It’s investment bank, it’s products, it’s cross sell. If you look at our positions relative €“ our relative positions in all of these businesses, we are high up in all of the rankings, the returns are fantastic.
2022, you saw these great returns. So if you add this all up, all of this helps our performance. When we look at retail, traditional retail bank, where we work closer with customers, we’ve had excellent performance, we’re close to the customers, we work with them, we’ve been able to increase in customer engagement with the bank, each engagement percentage point represents a billion reals. Obviously, there are challenges in cyclical moments. We’ve got vehicle issues in each area in the vehicle sector. But if you understand the risk and you can anticipate these cycles and if you have a portfolio that balances out these difficult moments, it means that your yields are going to be quite high, your earnings are going to be quite high. We have credit cards in Brazil, and we look at our markets and we look at our portfolio.
