Itaú Unibanco

Itaú Unibanco Holding S.A.
Sociedade Anônima
Traded as B3: ITUB3, ITUB4
NYSE: ITUB
Industry Banking, Financial services
Predecessor Banco Itaú
Unibanco
Founded 2008 (2008)
Headquarters São Paulo, Brazil
Area served
 Worldwide
Key people
 Candido Botelho Bracher, (CEO)
Pedro Moreira Salles, (Chairman)
Products Banking
Investment banking
Private equity
Asset Management
Private banking
Insurance
Retail Banking
Credit cards
Revenue Decrease US$ 59.0 billion (2017)[1]
Increase US$ 7.5 billion (2017) [2]
Total assets Increase US$ 460.0 billion (2018) [3]
Number of employees
 96,435
Parent Itaúsa
Subsidiaries Rede
Itaú CorpBanca
Banco Itaú Argentina
Banco Itaú Paraguay
Banco Itaú Uruguay
Website itau.com.br

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. It is the 10th largest bank in the world by market value. The bank its 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 owns 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, Colombia, Panama, Paraguay, United States and Uruguay in America, as well as in the United Kingdom, Luxembourg and Portugal in Europe; Japan, China, Hong Kong 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. The bank has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York City, Santiago, Shanghai and Tokyo 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 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

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]

The bank also owns and operates an Embraer Legacy 650 aircraft (as of August 2016).[6]

In 2014 Itaú announced that it was merging with Chilean bank Corpbanca.[7] 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.[8]

In 2018 Apple announce that Apple Pay will be available in Brazil with itaú cards (Visa and MasterCard) and it was activated on April 4, 2018.

References

  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".
  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.
  5. ↑ Natalia Gómez (28 June 2013). "Itaú Unibanco agrees to buy Citi Uruguay's retail bank unit". Reuters.
  6. ↑ "Global Airline Guide 2016 (Part One)". Airliner World (October 2016): 7.
  7. ↑ "Corpbanca escogió a Itaú". Dinero (in Spanish). January 28, 2014. Retrieved August 14, 2017.
  8. ↑ "Sedes de la antigua red Helm Bank empiezan a operar como Itaú". Dinero (in Spanish). May 22, 2017. Retrieved August 14, 2017.
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