Itaú Unibanco’s Profits Soar with New Initiatives

Itau Unibanco (ITUB) has released an update.

Itaú Unibanco reported a notable increase in its second-quarter profits for 2024, reaching R$10.1 billion, a 15.2% increase from the previous year, driven by expanded loan portfolios and higher commission and insurance operation revenues. The bank’s credit quality improved, with a decline in Non-Performing Loan ratios contributing to a 6.7% decrease in provision for loan losses. Itaú Unibanco also launched ‘One Itaú’, an initiative to enhance customer experience through its SuperApp, integrating various financial services and innovations.

For further insights into ITUB stock, check out TipRanks’ Stock Analysis page.