Panel SA: High interest rates make search for consortia break record, says Itaú

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Panel SA: High interest rates make search for consortia break record, says Itaú

Banco Itaú registered a record in the search for consortia in the third quarter of this year. Customers who joined the modality invested R$5.4 billion in their quotas, an amount 111% higher than that registered in the same period last year.

The revenue accumulated this year through September reached R$ 14.4 billion, 125% higher than that obtained in the same period in 2020. The number of quotas sold in the quarter also grew, reaching 59 million, according to Itaú.

The bank says that consortia are generally the third option for its customers to purchase real estate and vehicles, but demand has grown in recent months because of rising interest rates on loans and other types of financing.

with Ricardo Balthazar (interim), Andressa Motter e Ana Paula Branco

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