Itaú Unibanco earns BRL 8.74 billion in the 2nd quarter, up 13.9%

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Result refers to the same period of 2022. Analysts expected, on average, profit of BRL 8.63 billion between April and June. Facade of an Itaú Unibanco branch Disclosure Itaú Unibanco recorded recurring profit of R$ 8.74 billion in the second quarter, an increase of 13.9% compared to the same period last year, the bank informed this Monday (7). Analysts, on average, had expected a profit of 8.63 billion reais in the second quarter, based on data collected by Refinitiv. Delinquency over 90 days rose slightly from April to the end of June, to 3%, compared to 2.9% in the first quarter of 2023 and 2.7% in the second quarter of last year. The total loan portfolio stood at R$1.15 trillion, up 6.2% year-on-year. The bank registered a managerial financial margin of R$ 26 billion in the second quarter, which represents an increase of 14.8% compared to a year earlier. Annualized return on average equity was 20.9%, versus 20.8% in the second quarter of last year. Itaú Unibanco also revised projections for the year, reducing the estimate of growth in revenue from services and insurance results to a range of 5% to 7%, compared to expectations of an increase of 7.5% to 10.5% previously .

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