Banco Indusval : Disclosure of 2014 Consolidated Financial Statements in IFRS

Banco Indusval & Partners anuncia nova estrutura de comando

(free translation of the original in Portuguese)

BANCO INDUSVAL S.A. Publicly Held Company with Authorized Capital Corporate Taxpayer (CNPJ/MF) nº 61.024.352/0001-71

Company Registry (NIRE) nº 353000242-90

NOTICE TO MARKET Disclosure of Consolidated Financial Report in IFRS

Banco Indusval S.A. (BI&P - Banco Indusval & Partners) (BM&FBOVESPA tickers: IDVL3 and IDVL4) informs the filing with CVM and the disclosure at the Company's Investor Relations website (www.bip.b.br/ir) of the Consolidated Financial Report for Fiscal Year 2014 prepared under the international accounting standards - International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB).

The reconciliations between the Brazilian accounting standards (BR GAAP) and the

international standards (IFRS), for the Shareholders' Equity as of December 31,

2014 and the consolidated Net Result for 2014, are herewith attached.

São Paulo, March 30, 2015

BANCO INDUSVAL S.A. Gilberto Barshad Faiwichow Investor Relations Officer

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Reconciliation of the Brazilian accounting standards (BR GAAP) and the international standards (IFRS), for the Shareholders' Equity as of December 31, 2014

R$ thousand 2014
Shareholders' Equity in BR GAAP in December 31, 2014	675,935
Adjustments to IFRS, net of taxes	8,969
Adjustments to IFRS from previous years	7,433
Adjustment to fair value of assets for sale	29
Effective interest method on loans and advances	(88)
Reversal of unearned income from past-due operations	(82)
Derivatives in foreign exchange transactions and fair value	100
Impairment of loans and advances	1,970

Write off of identifiable net assets fair value and reversal of goodwill
amortization from Sertrading 1,104
Acquisition - Voga 1,682

Acquisition - Intercap (263) Income tax - IFRS (5,192) Reversal of accounting entry of goodwill - Guide 2,276

Equity attributable to controlling stockholders under IFRS 684,904 Non-controlling interests under IFRS 634 Consolidated Equity under IFRS 685,538

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Reconciliation of the Brazilian accounting standards (BR GAAP) and the international standards (IFRS),

for the Consolidated Net Income for the Fiscal Year 2014

R$ thousand 2014
Net Profit in BRGAAP in 2014	(5,155)
IFRS adjustments, net of taxes	2,351
Effective interest method on loans and advances	(88)
Reversal of unearned income from past-due operations	(82)
Derivatives in foreign exchange transactions and fair value	100
Impairment of loans and advances	1,970
Discontinuity of hedge accounting of cash flow	3,118
Acquisition Sertrading (identifiable net assets fair value adjustments)	1,104
Acquisition Voga (reversal of goodwill amortization)	1,682
Acquisition Banco Intercap (identifiable net assets fair value adjustments)	(263)
Effects of taxes (reversal BRGAAP and entry IFRS)	(5,190)
Net Loss in IFRS	(2,804)
Controllers	(2,626)
Non-controlling interests	(178)
Other comprehensive income (net of taxes)	(3,104)
Adjustment to fair value of financial assets available for sale	14
Discontinuity of hedge accounting of cash flow	(3,118)
Total Comprehensive income	(5,908)
Controllers	(5,730)
Non-Controllers	(178)

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