Azernews.Az

Saturday November 23 2024

Brazil's Itau posts recurring net income up 15% in Q1

10 May 2022 08:30 (UTC+04:00)
Brazil's Itau posts recurring net income up 15% in Q1

By Trend

Brazilian lender Itau Unibanco Holding SA on Monday reported a first quarter recurring net income of 7.36 billion reais ($1.45 billion), up 15.1% year on year, driven by higher credit volume as growth in its loan book accelerated, Trend reports with reference to Reuters.

The figure for the country's largest bank were in line with an expected 7.35 billion-real net income from analysts polled by Refinitiv.

The bottom line growth came even as loan-loss provisions jumped by 57.8% to 6.998 billion reais, Itau said in a securities filing.

"Our first quarter results show the consistency and sustainability of our performance even in a challenging scenario ... We have all the conditions needed to keep an extremely robust balance sheet in 2022," Chief Financial Officer Alexsandro Broedel said.

---

Follow us on Twitter @AzerNewsAz

Here we are to serve you with news right now. It does not cost much, but worth your attention.

Choose to support open, independent, quality journalism and subscribe on a monthly basis.

By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.

Subscribe

You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper

Thank you!

Loading...
Latest See more