Itau's 2Q Performance Remains Stable Despite Brazil's Labor Strike and Slower Economy
In the face of labor strikes and Brazil’s weakening economy, Itau Unibanco saw stable performance in the second quarter. For the period, Itau's recurring net income was BRL 6.4 billion, in line with the previous quarter and a 3.5% increase from the previous year. Despite Brazil’s shaky economy, Itau continues to perform. Annualized financial margin with clients held steady for the third consecutive quarter at 9.9% notwithstanding lower Brazilian interest rates. That said, financial margin is sti...
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