AllAnalyst Report
logoMorningstarMarch 10, 2021

Itaú Unibanco Holding S.A.: Cautious Underwriting, Fiscal Stimulus, and Adequate Reserves Should See Itau Through 2021

Symbols
ITUB
Sector(s)
Financial Services
Rating
Current Price
$6.35
Fair Value
Economic Moat
Stewardship
Summary

Itau Unibanco is the largest privately held bank in Brazil, the result of the 2008 merger between Banco Itau and Unibanco. In addition to Brazil, the bank has significant operations in Chile, Colombia, Argentina, Uruguay, and Paraguay. Its commercial and consumer loans account for 33% and 41% of the bank’s total loans, respectively, while foreign loans now account for 26% of the bank’s portfolio. In addition to banking, Itau operates the fourth-largest insurer in Brazil; it specializes in consumer-related insurance.

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