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Brazilian lender Itau grows third-quarter profit in line with estimates

By Reuters News

SAO PAULO, Nov 3 (Reuters) - Brazilian lender Itau Unibanco reported a 6.2% increase in its third-quarter recurring profit on Tuesday from a year earlier, matching analysts' estimates.

Itau Unibanco posted net recurring profit for the July-September quarter of 12.62 billion reais ($2.30 billion), compared to 12.63 billion reais seen in an LSEG poll of analysts.

  • Return on equity, a gauge of profitability, stood at 23.6%, up from 23.3%

  • Total loan portfolio stood at 1.54 trillion reais, up around 10%, while the 90-day delinquency rose to 2.0% from 1.9%

  • Loan-loss provisions reached 10.7 billion reais, a 9.6% increase

  • Itau changed its 2026 estimate for effective tax rate to between 28% and 29%, versus 29.5% to 32.5% previously

($1 = 5.4965 reais)

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