Itaú Unibanco released its financial results for the third quarter, recording a recurring net profit of R$9.04 billion, an increase of 11.9% compared to the same period in 2022.
This figure exceeded the average expectations of analysts, who predicted a recurring profit of R$8.95 billion . Itaú 's accounting net profit for the quarter was R$7.54 billion.
The bank achieved a recurring managerial return on average annualized equity of 21.1% in the quarter, practically stable in relation to the same period of the previous year. Itaú 's credit portfolio increased 4.7% compared to the previous year, reaching R$1.16 trillion.
The bank's managerial financial margin also increased by 9.9% compared to the previous year, totaling R$26.3 billion.
The default rate over 90 days was 3%, without major variations compared to the previous quarter, but 0.2 percentage points higher than in the same period in 2022.
Itaú did not announce new dividends , but adjusted its annual projections due to the sale of Banco Itaú Argentina operations, maintaining the previously released guidance. Overall, the bank's results reflect solid performance, with profits in line with analysts' forecasts and a growing loan portfolio, despite variations in default rates and adaptations due to market changes.