Banestes SA Banco do Estado do Espirito Santo (the Bank) is a Brazil-based commercial bank. The Bank provides a number of financial services, including a portfolio of commercial, rural, industrial and real estate credits; currency exchange; leasing operations; credit card administration and investment funds management, among others. Through its subsidiaries, the Bank also offers insurance products, as well as distribution, brokerage and management of third parties assets. In addition, it is involved in the management of workers' feeding program (PAT). As of December 31, 2011, the Bank’s subsidiaries included Banestes Seguros SA, Banestes Distribuidora de Titulos e Valores Mobiliarios SA and Banestes Administradora e Corretora de Seguros Previdencia e Capitalizacao Ltda. On January 17, 2012, the Company incorporated its subsidiaries Banestes Seguros SA and Banestes Distribuidora de Titulos e Valores Mobiliarios SA.