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Itaú Unibanco (commonly referred to as Itaú) is a Brazilian publicly quoted bank with headquarters in São Paulo, Brazil. The bank is the result of the merger of Banco Itaú and Unibanco, which occurred on November 4, 2008 to form Itaú Unibanco Holding S.A, the largest financial conglomerate in the Southern Hemisphere. It is the 10th largest bank in the world by market value. The bank is listed at the B3 in São Paulo and in NYSE in New York. It currently is the biggest Latin American bank by assets and market capitalization.

Itaú Unibanco Holding S.A.
Sociedade Anônima
Traded asB3ITUB3, ITUB4
NYSEITUB
IndustryBanking, Financial services
PredecessorBanco Itaú
Unibanco
Founded4 November 2008; 10 years ago (4 November 2008)
HeadquartersSão Paulo, Brazil
Area served
Worldwide
Key people
Candido Botelho Bracher, (CEO)
Pedro Moreira Salles, (Chairman)
ProductsInvestment banking
Retail Banking
Credit cards
RevenueDecrease US$ 42.7 billion (2018)[1]
Increase US$ 6.5 billion (2018) [2]
Total assetsIncrease US$ 402.0 billion (2018) [3]
Number of employees
96,435
ParentItaúsa
SubsidiariesRede
Itaú CorpBanca
Banco Itaú Argentina
Banco Itaú Paraguay
Banco Itaú Uruguay
Credicard
Websitewww.itau.com

Itaú has operations in Argentina, 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 is the most important subsidiary of Investimentos Itaúsa, a large conglomerate that ranks among Fortune magazine's top 500 corporations in the world. Outside of Brazil, Itaú has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York, Miami, Santiago, Shanghai, Tokyo and Zurich.

On August 22, 2009, Itaú Unibanco and insurance company Porto Seguro disclosed that they had entered into an alliance.[4] The alliance aims to combine their residential and automobile insurance operations and includes an Operating Agreement under which the alliance will have exclusive access to offer and distribute homeowner and vehicle insurance products to clients of Itaú Unibanco's branch network in Brazil and Uruguay.

Currently the bank has over 33,000 service points being 4.495 bank branches and 27.981 ATMs in Brazil and in the world.

Recent newsEdit

In September 2006, Itaú bought the BankBoston assets in Brazil, Chile and Uruguay. In June 2013, the bank agreed to buy Citibank Uruguay's retail banking operations.[5] In 2014 Itaú announced that it was merging with Chilean bank Corpbanca.[6] As a result of this merger, Itaú bought Helm Bank, Corpbanca's operation in Colombia and Panama, and rebranded it under the Itaú name: the branches of Helm Bank in Colombia and Panama began trading as Itaú on May 22, 2017.[7]


ReferencesEdit

  1. ^ Forbes https://www.forbes.com/companies/itau-unibanco-holding/. Missing or empty |title= (help)
  2. ^ "Itaú Unibanco 2011 net income R$ 14.6/US$8.4Billion with R$1.00 = USD 0.53 in 31/12/2011".[permanent dead link]
  3. ^ "Itau Unibanco's Q4 2011 net income rises to USD2.17bn on cost control". www.m2.com.
  4. ^ "Latest Merger Could Redraw Brazil's Insurance Map". The Wall Street Journal. Retrieved 2009-08-24.[dead link]
  5. ^ Natalia Gómez (28 June 2013). "Itaú Unibanco agrees to buy Citi Uruguay's retail bank unit". Reuters.
  6. ^ "Corpbanca escogió a Itaú". Dinero (in Spanish). January 28, 2014. Retrieved August 14, 2017.
  7. ^ "Sedes de la antigua red Helm Bank empiezan a operar como Itaú". Dinero (in Spanish). May 22, 2017. Retrieved August 14, 2017.

External linksEdit