Itaú Unibanco recorded managerial net income of R$ 7.159 billion in the fourth quarter of 2021, which corresponds to a growth of 32.8% compared to the same period of the previous year, according to a balance sheet released this Thursday (10).
Compared to the third quarter of last year, the bank’s profit increased 5.6%.
In the year 2021, the financial institution’s net income reached R$ 26.879 billion, up 45% compared to 2020.
“Among the factors that most influenced the results are the growth in the financial margin with customers, driven by the greater volume of credit and the change in the product mix, with greater relative growth of products with better spreads. The increase in revenue from services rendered due to the improvement in economic activity and the consequent growth in revenue from cards”, says the bank, in a note.
The bank’s loan portfolio reached R$1.027 trillion in December, an increase of 18.1% in 12 months and 6.7% on a quarterly basis.
Among individuals, the increase in Itaú’s loan portfolio was 30.1% last year, to R$332.6 billion.
According to the bank, the increase is related to the volumes of lines associated with guaranteed credit, such as real estate (53.7%), and also of other lines, such as credit cards (30.0%), in comparison with the same period of 2020
“The relevance of digital media in attracting and serving the bank’s customers continues to rise. In the fourth quarter, 63% of product purchases by individuals were carried out digitally.”
In the case of large companies, the increase was 16.6%, to R$ 313.7 billion. Among micro, small and medium-sized companies, the portfolio reached R$ 157.5 billion, an increase of 23.4%.
For 2022, Itaú projects a growth in the loan portfolio between 11.5% and 14.5% in Brazil.
“We hope to expand our credit portfolio in a sustainable way and resume recurring results at levels higher than before the pandemic. Our perspective for 2022 considers the maintenance of the recovery trajectory and good results that we obtained last year”, said Milton Maluhy Filho , president of Itaú Unibanco.
In line with private peers Santander and Bradesco, Itaú also recorded an increase in delinquency rates last year.
The rate of delays over 90 days increased from 2.3% at the end of 2020 to 2.5% in December. Compared to September 2021, the index was practically stable, with a reduction of 0.1 percentage point.
The expense of provision for doubtful accounts totaled R$ 6.827 billion at the end of December last year, an increase of 21% in the annual comparison and of 23.5% in the margin.
The ROE (Return on Equity), an indicator that measures the profitability of the bank’s operation, reached 20.2%, an increase of 4.1 percentage points compared to 2020 and 0.5 point compared to the third quarter.
X-ray | Itaú Unibanco
Foundation 2008, year of merger of Banco Itaú and Unibanco
Net profit in 2021 BRL 26.879 billion
agencies 4,335
Employees 99,598
Mainly competitors Bradesco, Santander, Banco do Brasil, Caixa Econômica Federal
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