Itau Unibanco Reports Strong Q2 2026 with 24.3% ROE and Revised Fee Guidance

Earnings
โดย GuruFocus·BR·Read original
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Itau Unibanco Holding SA reported second-quarter 2026 recurring net income of 12.4 billion reais, up 7.8% year over year, with a consolidated return on equity of 24.3%. The loan portfolio reached 1.522 trillion reais, growing 2.7% quarter over quarter and nearly 10% year over year, while net interest income with clients rose 3.3% quarter over quarter to 32.6 billion reais. The bank's CET1 ratio strengthened to 12.3%, up 30 basis points from March, and the efficiency ratio improved to 35.5% in Brazil. However, Itau revised its full-year guidance for commissions, fees, and insurance results growth down to a range of 2% to 5% from the previous 5% to 9%, citing moderation in economic activity and weaker credit card-related fees. CEO Milton Maluhy Filho highlighted disciplined capital allocation and noted that the bank is willing to cede market share in segments where competitors are growing irrationally.

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