Itaú recorded a profit of BRL 7.361 billion in the first quarter of 2022, which is equivalent to a growth of 15% compared to the same period last year and 2.8% compared to the immediately previous quarter, according to the balance sheet. released this Monday (9).
The result is largely due to the 13.9% expansion of the loan portfolio on an annual basis, to R$1.032 trillion. Compared to the last quarter of last year, there was an increase of 0.5%.
According to the bank, the portfolio of individuals reached a volume of R$ 347.4 billion, up 32.9% on an annual basis and 4.4% compared to the fourth quarter of last year. This performance is related to the volumes of lines associated with guaranteed credit, such as real estate (44.5%), and also of other lines, such as credit cards (41.4%), compared to the same period in 2021.
The delinquency rate over 90 days was 2.6% at the end of the first quarter of the year, against 2.3% in the annual comparison and 2.5% in December.
Among individuals, the rate of delays over 90 days reached 4.1% in March, against 3.9% in March 2021 and 3.8% at the end of last year.
The bank’s provisions for loan losses reached R$ 6.385 billion in the quarter, up 70.3% year on year and 6.3% at the margin.
The ROE (Recurring Managerial Return on Average Annualized Shareholders’ Equity), an indicator that measures the profitability of the operation, reached 20.4% in March, compared to 18.5% in the same period of 2021 and 20.2% in the previous quarter.
“Itau Unibanco’s digital and cultural transformation continues at an accelerated pace, without failing to deliver consistent results. In addition to all internal efforts to support the journey of evolution of our business, we intensified investments in acquisitions and partnerships, which will allow us to make this transformation in the speed that our customers demand and the current world demands”, said Milton Maluhy Filho, president of Itaú Unibanco, in a note.
X-RAY | ITAÚ UNIBANCO
Foundation 2008, year of merger of Banco Itaú and Unibanco
Net income in the 1st quarter of 2022 BRL 7.36 billion
agencies 4,215
Employees 100,553
Mainly competitors Bradesco, Santander, Banco do Brasil, Caixa Econômica Federal
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