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Itaú Unibanco - Wikipedia

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Itaú Unibanco S.A.

Headquarters in São Paulo
Company type	Sociedade Anônima
Traded as	B3: ITUB3, ITUB4 NYSE: ITUB
Industry	Financial services
Predecessor	Banco Itaú Unibanco
Founded	4 November 2008; 16 years ago (2008-11-04)
Headquarters	São Paulo, São Paulo, Brazil
Area served	Worldwide
Key people	Milton Maluhy Filho (CEO) Pedro Moreira Salles (Chairman) Giancarlo Moreira (CFO)
Products	Retail banking corporate banking investment banking insurance private banking private equity mortgage loans credit cards investment management wealth management asset management mutual funds exchange-traded funds index funds
Revenue	US$ 32.3 billion (2023)^[1]
Net income	US$ 7.5 billion (2023)^[1]
Total assets	US$ 526.0 billion (2023)^[1]
Number of employees	99,600 ^[1] Brazil: 87,300 World: 12,300
Parent	Itaúsa
Subsidiaries	Itaú CorpBanca Itaú Paraguay Itaú Uruguay Rede Hiper Credicard
Website	www.itau.com.br
Footnotes / references ^[1]

Banco Itaú Unibanco S.A. is a Brazilian financial services company headquartered in São Paulo, Brazil. Itaú Unibanco was formed through the merger of Banco Itaú and Unibanco in 2008. It is the largest banking institution in Brazil, as well as the largest in Latin America,^[2] and the seventy-third largest bank in the world. The bank is listed on the B3 in São Paulo and in NYSE in New York.

Itaú Unibanco has operations in Brazil, Chile, Colombia, Panama, Paraguay, United States and Uruguay in the Americas, as well as in Luxembourg, Portugal, Switzerland and the United Kingdom in Europe; China, Hong Kong, Japan and United Arab Emirates in Asia. It has over 33,000 service points globally, including 4,335 branches in Brazil and 55 million customers globally.

Itaúsa, a large Brazilian conglomerate ranking among Fortune magazine's top 500 corporations in the world, serves as the parent company. Outside Brazil, Itaú Unibanco has offices in Asunción, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York, Miami, Santiago, Shanghai, Tokyo, and Zürich.

In 2022, Itaú was considered the most valuable brand in Brazil.^[3]

History

In September 2006, Banco Itaú bought BankBoston's assets in Brazil, Chile, and Uruguay.

On November 4, 2008, Banco Itaú and Unibanco announced the merger that resulted in Banco Itaú Unibanco. The institution was born with R$575 billion in assets, a net equity of around R$51.7 billion and a portfolio of combined credit of R$225.3 billion. The new bank had 4,800 branches and service branches, representing 18% of Brazil's banking network, and 14.5 million account holders (18% of the market). In terms of credit volume, it represented 19% of the Brazilian system and in total deposits, funds and managed portfolios, 21% by 2008. In the insurance and pension plan market, the new group had a 17% and 24% share, respectively. The wholesale operations (corporate) totaled more than R$65 billion, serving more than 2,000 economic groups in Brazil. The private banking (wealth management) business had become the largest in Latin America, with approximately R$90 billion in assets under management.^[4]

On August 22, 2009, Banco Itaú Unibanco and insurance company Porto Seguro announced their alliance.^[5] The alliance combined residential and automobile insurance operations and included an operating agreement that provided exclusive access to offer homeowner and vehicle insurance products to clients of Banco Itaú Unibanco in Brazil and Uruguay.

In June 2013, the bank agreed to buy Citibank Uruguay's retail banking operations.^[6]

In 2014, Banco Itaú announced that it was merging with Chilean bank Corpbanca.^[7] As a result, Itaú bought Helm Bank, Corpbanca's operation in Colombia and Panama, and rebranded it under the Itaú name.^[8]

Wikimedia Commons has media related to Banco Itaú.

References

^ ^a ^b ^c ^d ^e "Demonstrações Contábeis em IFRS (2021)". Itaú Unibanco RI (in Brazilian Portuguese). February 10, 2022. pp. 15, 20, 22. Retrieved June 21, 2022.
^ Jeffrey Sy, Ryan (April 25, 2022). "Latin America's 50 largest banks by assets, 2022". S&P Global Market Intelligence. Retrieved June 1, 2022.
^ "Banks and beer top Brazil's 10 most valuable brands". The Brazilian Report. 2022-05-03. Retrieved 2022-06-29.
^ "Itaú e Unibanco anunciam fusão e criam maior grupo financeiro do Hemisfério Sul". Folha de S. Paulo (in Portuguese). November 4, 2009. Retrieved March 3, 2021.
^ "Latest Merger Could Redraw Brazil's Insurance Map". The Wall Street Journal. Retrieved 2009-08-24. ^{[dead link‍]}
^ Natalia Gómez (28 June 2013). "Itaú Unibanco agrees to buy Citi Uruguay's retail bank unit". Reuters.
^ "Corpbanca escogió a Itaú". Dinero (in Spanish). January 28, 2014. Retrieved August 14, 2017.
^ "Sedes de la antigua red Helm Bank empiezan a operar como Itaú". Dinero (in Spanish). May 22, 2017. Retrieved August 14, 2017.

External links

Itaú International Archived 2013-09-02 at the Wayback Machine Global Website

Ibovespa companies of Brazil

S&P Latin America 40 companies (as of 20 January 2022)

Investment banks

Divisions of
universal banks

Bulge bracket	Barclays Bank of America Citigroup Deutsche Bank JPMorgan Chase UBS
Americas	Bradesco BBI BMO Capital Markets CIBC World Markets Itaú BBA National Bank Financial Markets RBC Capital Markets Scotiabank GBM TD Securities TD Cowen Wells Fargo Securities
EMEA	Banca Akros Banca IMI BNP Paribas CIB Crédit Agricole CIB Credit Suisse Danske Bank LC&I First Abu Dhabi Bank CIB Handelsbanken Capital Markets HSBC GBM ING WB İş Yatırım Lloyds Bank Corporate Markets Natixis NatWest Markets Nordea CI&IB Santander CIB Sberbank CIB SEB LC&FI Société Générale CIB Standard Chartered CCIB UniCredit CIB VTB Capital
APAC	BOC International CITIC Securities CLSA CSC Financial Mitsubishi UFJ Securities Mizuho Securities NH Investment & Securities SBI Capital Markets SMBC Nikko Securities UOB-Kay Hian

Independents

Bulge bracket	Goldman Sachs Morgan Stanley
Americas	Allen & Company B.C. Ziegler B. Riley Financial FBR Capital Markets Baird BDT & MSD Partners Brown Brothers Harriman Brown Gibbons Lang & Company BTG Pactual Canaccord Genuity Cantor Fitzgerald Centerview Partners Drexel Hamilton Ducera Partners Evercore Financial Technology Partners Greenhill & Co. Guggenheim Partners Harris Williams & Co. Houlihan Lokey Jefferies Lazard Leerink Partners Lincoln International LionTree Marathon Capital Moelis & Company Needham & Company Oppenheimer Perella Weinberg Partners Piper Sandler PJT Partners Qatalyst Partners The Raine Group Raymond James Financial Roth Capital Partners Seabury Capital Solomon Partners Stephens Inc. Stifel Keefe, Bruyette & Woods Miller Buckfire & Co. Stone Key Partners Wedbush Securities William Blair & Company WR Hambrecht + Co
EMEA	Arbuthnot Latham AAIB ABG Sundal Collier Berenberg Bank Bpifrance Carnegie EFG Hermes Investec Kempen Mediobanca Numis Renaissance Capital Robey Warshaw Rothschild & Co Zaoui & Co.
APAC	Barrenjoey Capital Partners China Galaxy Securities China International Capital Corporation China Renaissance Daiwa Securities Group Everbright Securities GF Securities Guosen Securities Guotai Junan Securities Haitong Securities Huatai Securities JM Financial Macquarie Group Mirae Asset Securities Nomura Securities Orient Securities Samsung Securities Shenwan Hongyuan Somerley Capital Zhongtai Securities