Itau Unibanco Stock Price, News & Analysis

Itaú Unibanco Holding S.A. announced the approval of the merger of XPart S.A. into XP Inc. at the General Stockholders' Meetings held on October 1, 2021. Following the merger, controlling stockholders of Itaú Unibanco and ADR holders will receive Class A shares of XP, while other XPart shareholders will receive BDRs backed by XP shares. The stock prices of Itaú Unibanco will adjust by -18.69% for common shares and -17.54% for preferred shares starting October 4, 2021, affecting the opening prices significantly.

Itaú Unibanco Holding S.A. has revised its 2021 financial projections, as disclosed on August 2, 2021. The company anticipates a total credit portfolio growth of 5.5% to 9.5% in Brazil, maintaining its financial margin with clients and the market. The new forecasts include a financial margin with the market ranging from R$4.9 to R$6.4 billion and a cost of credit between R$21.3 to R$24.3 billion. The effective tax rate is projected to be between 34.5% to 36.5%, indicating a cautious outlook based on market conditions.

ITAÚ UNIBANCO HOLDING S.A. has announced the payment of interest on capital to shareholders, amounting to R$ 0.10384 per share, netting R$ 0.088264 after a 15% tax withholding. The payment is based on the stockholding position recorded on August 13, 2021, and will be made on August 26, 2021. This payment, along with previously declared amounts, totals R$ 2,159 million. The interest is applicable to both common (ITUB3) and preferred (ITUB4) shares.

Itaú Unibanco Holding S.A. announced the availability of its Complete Financial Statements and Management Discussion and Analysis for Q2 2021, ending June 30, 2021, on its Investor Relations website. Shareholders can access these documents to evaluate the company's performance during this period. Additionally, conference calls regarding the results are scheduled for August 3, 2021, at 09:00 a.m. EDT in Portuguese and at 10:30 a.m. EDT in English.

Itaú Unibanco will announce its 2nd quarter 2021 results on August 2, following the close of trading on B3 and NYSE. The conference call schedules are as follows: in Portuguese at 9 a.m. EDT and in English at 10:30 a.m. EDT on August 3. Investors can access the details through the company's Investor Relations website. For further queries, individual and institutional investors can contact provided emails or phone numbers.

Itaú Unibanco announced the approval of a corporate restructuring by Brazil's Central Bank on July 26, 2021. This restructuring involves the spin-off of its equity interest in XP Inc., transferring 226,523,304 shares, equivalent to 41.05% of XP's capital, to XPart S.A. Shareholders will continue to trade shares, including rights to XPart securities until an ex-right date. If approved, XP and XPart may merge, impacting shareholders' entitlements. Stockholders have withdrawal rights if XPart is not merged or listed within 120 days of approval.

Itaú Unibanco is set to disclose its 2nd quarter 2021 results on August 2, after trading hours on B3 and NYSE. The company will host conference calls on August 3: in Portuguese at 9 a.m. EDT and in English at 10:30 a.m. EDT. Investors can access the calls through links provided in the press release. For further updates and information, stakeholders are encouraged to visit the Investor Relations website.

Itaú Unibanco has successfully won a bidding process on July 16, 2021, to provide payroll management services for the State of Minas Gerais. This lucrative contract involves managing payroll for approximately 618,000 public servants and includes a monthly amount of R$ 4.8 billion. The proposal also entails a cash payment of R$ 2.4 billion, which will be recorded as intangible and recognized on a deferred basis. This initiative supports Itaú's phygital strategy, enhancing service accessibility through online accounts and dedicated physical sites.

Itaú Unibanco has received approval from the Federal Reserve Board for a corporate restructuring involving the transfer of its equity interest in XP Inc. to a newly formed entity named XPart S.A. Following this approval, XPart will be incorporated, and shareholders of Itaú Unibanco will maintain their proportional rights to shares in XPart. Additionally, a potential merger between XPart and XP is being discussed, which could affect shareholder entitlements. Further updates will be provided to stakeholders about the transaction's progress.