|Traded as||BM&F Bovespa: ITUB3, ITUB4
|Industry||Banking, Financial services|
|Headquarters||São Paulo, Brazil|
|Roberto Egydio Setubal, (CEO)
Pedro Moreira Salles, (Chairman)
|Revenue||US$ 53.5 billion (2016)|
|US$ 6.8 billion (2016) |
|US$ 439.8 billion (2017) |
Number of employees
Banco Itaú Argentina
Banco Itaú Paraguay
Banco Itaú Uruguay
Itaú Unibanco is a Brazilian publicly quoted bank with headquarters in São Paulo, Brazil. The bank is the result of the merger of Banco Itaú and Unibanco, which occurred on November 4, 2008 to form Itaú Unibanco Holding S.A, the largest financial conglomerate in the Southern Hemisphere and is the 10th largest bank in the world by market value. The bank its listed at the BM&F Bovespa in São Paulo and in NYSE in New York. It currently is the biggest Latin American bank by assets and market capitalization.
Itaú Unibanco owns Rede, the second largest Brazilian card payment company. Itaú Unibanco accounts for about 11% of the Brazilian market for retail banking services. It has operations in Argentina, Chile, Colombia, Panama, Paraguay and Uruguay in South America, as well as in the United Kingdom, Luxembourg and Portugal in Europe, United States, Japan, China, Hong Kong and United Arab Emirates in Asia. It is the most important subsidiary of Investimentos Itaúsa, a large conglomerate that ranks among Fortune magazine's top 500 corporations in the world. The bank has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York City, Santiago, Shanghai and Tokyo On August 22, 2009, Itaú Unibanco and insurance company Porto Seguro disclosed that they had entered into an alliance.
The alliance aims to combine their residential and automobile insurance operations and includes an Operating Agreement under which the alliance will have exclusive access to offer and distribute homeowner and auto insurance products to clients of Itaú Unibanco's branch network in Brazil and Uruguay ("Alliance"). Currently the bank has over 32,956 service points being 4.495 bank branches and 27.981 ATMs in Brazil and in the world.
In 2014 Itaú announced that it was merging with Chilean bank Corpbanca. As a result of this merger, Itaú bought Helm Bank, Corpbanca's operation in Colombia and Panama, and rebranded it under the Itaú name: the branches of Helm Bank in Colombia and Panama began trading as Itaú on May 22, 2017.
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