Itaú stands out from competitors with ROE of 23.6% and healthy portfolio
Itaú further widened the gap with its competitors with the third-quarter result reported tonight. The loan portfolio grew healthily despite the macroeconomic deterioration, ROE fell but remains above 23%, and the balance sheet continued to be solid, with the core capital ratio increasing 40 basis points to 12.7%.
Itaú reported a profit of R$ 12.6 billion for the third quarter, a 1.7% increase from the previous quarter and a 6.7% increase from the same period last year. The bank's credit portfolio grew 1.4% to R$ 1.5 trillion, with a return on equity (ROE) of 23.6%, although this was down 0.7 percentage points from the previous quarter. The bank's capital ratio increased by 40 basis points to 12.7%, and its Brazilian operations generated an ROE of 24.5%. The bank's shares have fallen 1.7% this year, valuing Itaú at R$ 449 billion on the stock exchange.
Written by urgent.news from Brazil Journal's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
