Brazil's Itau sees profit plunge 40% as loan provisions soar
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SAO PAULO, Aug 3 (Reuters) - Brazil's largest lender Itau Unibanco Holding SA on Monday posted a 40% plunge in second-quarter profit, as provisions for loans almost doubled amid the economic crisis stemming from the coronavirus pandemic.
Itau Unibanco's recurring net income, which excludes one-off items, came in at 4.205 billion reais ($790.38 million), down from 7.034 billion reais a year earlier. ($1 = 5.3202 reais) (Reporting by Carolina Mandl; Editing by Christian Plumb)
