Itaú Unibanco

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Itaú Unibanco Holding S.A.
Type Sociedade Anônima
Traded as BM&F BovespaITUB3, ITUB4
NYSEITUB
Industry Banking, Financial services
Predecessors Banco Itaú
Unibanco
Founded 2008
Headquarters São Paulo, Brazil
Area served Worldwide
Key people Roberto Egydio Setubal, (CEO)
Pedro Moreira Salles, (Chairman)
Products Banking
Investment banking
Private equity
Asset Management
Private banking
Insurance
Retail Banking
Credit cards
Revenue Decrease US$ 41.4 billion (2013)[1]
Net income Increase US$ 7.3 billion (2013) [2]
Total assets Increase US$ 539.5 billion (2014) [3]
Employees 95,700
Parent Itaúsa
Subsidiaries Rede
Itaú CorpBanca
Banco Itaú Argentina
Banco Itaú Paraguay
Banco Itaú Uruguay
Website Itauunibancoir.com

Itaú Unibanco 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 and is the 10th largest bank in the world by market value. The bank its listed at the BM&F Bovespa in São Paulo and in NYSE in New York. Currently is the second biggest Brazilian bank by assets, after Banco do Brasil.

Itaú bank in Avaré, Brazil.

Itaú Unibanco owns the Rede, the second largest Brazilian card payment company. Itaú Unibanco accounts for about 11% of the Brazilian market for retail banking services. It has operations in Argentina, Chile, Paraguay and Uruguay in South America, as well as in England, Luxembourg and Portugal in Europe, USA, Japan, China, Hong Kong and UAE 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. The bank has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York, Santiago, Shanghai and Tokyo On August 22, 2009, Itaú Unibanco and insurance company Porto Seguro disclosed that they had entered into an alliance.[4]

Banco Itaú in Asunción, Paraguay.

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 auto insurance products to clients of Itaú Unibanco's branch network in Brazil and Uruguay (“Alliance”). Currently the bank has over 32,956 service points being 4.495 bank branches and 27.981 ATMs in Brazil and in the world.

Recent news[edit]

In June 2013, the bank agreed to buy Citibank Uruguay’s retail banking operations.[5]

See also[edit]

List of companies paying monthly dividends

References[edit]

  1. ^ Forbes http://www.forbes.com/companies/itau-unibanco-holding/ |url= missing title (help). 
  2. ^ Itaú Unibanco 2011 net income R$ 14.6/US$8.4Billion with R$1.00 = USD 0.53 in 31/12/2011
  3. ^ Itaú Unibanco 2011 Total assets of R$ 851.3/ US$492.0 Billion, with R$1.00 = USD 0.53 in 31/12/2011
  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. 

External links[edit]