Itau Unibanco 3Q Net Income Fell After Loss From Sale of Argentine Unit
06 November 2023 - 11:45PM
Dow Jones News
By Jeffrey T. Lewis
SÃO PAULO--Itaú Unibanco Holding's profit declined in the third
quarter after the Brazilian lender reported a loss from the sale of
its Argentine unit.
The bank reported net income of 7.5 billion reais, equivalent to
$1.5 billion, from BRL7.9 billion a year earlier, while its
recurring result, which leaves out one-time items, rose to BRL9.0
billion from BRL8.1 billion.
Itaú posted earnings per share of BRL.077, down from BRL0.80 a
year earlier. Itaú reported operating revenues rose to BRL39.5
billion from BRL36.6 billion in the year-earlier period.
The bank said last week it closed the sale of its Argentine
unit, Banco Itaú Argentina, and recorded a one-time loss of BRL1.2
billion in the third quarter.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
November 06, 2023 17:30 ET (22:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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