Itau Has Yet to See All the Positives from Brazil's Improving Economy
Itau Unibanco has struggled to offset declining net interest margin with loan growth. For the first quarter, net interest income was BRL 15.8 billion, a sequential decline of nearly 6%, while falling 1.9% from the previous year. The average rate of financial margin with clients was 9.9%, a decline of nearly 140 basis points from last year. The real bright spot in this quarter came from significantly lower credit provisions. Credit costs came in at BRL 3.8 billion, a more than 28.3% decline from ...
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