Itau Unibanco Stock Price, News & Analysis

ITAÚ UNIBANCO HOLDING S.A. announced the payment of interest on capital to its shareholders, approved by the Board of Directors on January 14, 2021. Shareholders will receive R$ 0.050160 per share, with a withholding tax of 15%, resulting in a net amount of R$ 0.042636 per share. This payment is applicable to both common (ITUB3) and preferred (ITUB4) shares, based on the stockholding position recorded on January 22, 2021. The payment is set to be made by April 30, 2021.

Itaú Unibanco Holding S.A. announced an Extraordinary General Stockholders' Meeting on January 31, 2021, to discuss a corporate restructuring involving its 41.05% investment in XP Inc. This will lead to the creation of a new company ('Newco'), where stockholders will receive shares proportional to their current holdings. The restructuring aims to enhance liquidity and value for shareholders while separating the investment in XP to operate independently. Estimated costs for the transaction are R$ 13 million. Approval from the Central Bank of Brazil and other regulatory bodies is required.

Itaú Unibanco announced a restructuring of its Executive Committee, effective February 2021, following the appointment of Milton Maluhy Filho as CEO. The changes aim to enhance operational efficiency and decision-making speed. Key appointments include Alexandre Zancani overseeing Auto Loans and Retail Credit, André Rodrigues managing the Retail Bank, and Flavio Souza leading Itaú BBA. The bank will also establish a new structure for Treasury and operations outside Brazil, with a CFO and CRO highlighted in the changes. Transition will be managed by the current president until February 2, 2021.

Itaú Unibanco announced the sale of 4.4% of XP Inc.'s capital stock through a public offering on Nasdaq, totaling US$ 935 million. Following a potential green shoe exercise, the transaction could reach US$ 1.052 billion, representing 5% of XP's capital. This sale results in Itaú Unibanco holding 41.1% of XP's total capital, which will adjust to 40.5% post-green shoe. This transaction will impact Itaú's fiscal results for the current year.

Itaú Unibanco Holding has announced the approval of a spin-off that will transfer 41.05% of its investment in XP Inc. to a new company, referred to as Newco. This decision follows discussions initiated on November 3, 2020, and will be presented for shareholder approval at a General Meeting. Once approved, shareholders will have an equity stake in Newco, whose sole asset will be the investment in XP. Additionally, Itaú may choose to sell its 5% stake in XP depending on market conditions. Further details for shareholders will follow.

ITAÚ UNIBANCO HOLDING S.A. announced that its Board of Directors approved the payment of earnings to shareholders by April 30, 2021. This includes interest on capital at R$0.063960 per share, subject to a 15% withholding tax, resulting in a net payment of R$0.0543660 per share. This payment applies to both common (ITUB3) and preferred (ITUB4) shares, with corporate stockholders potentially exempt from withholding if they can prove immunity. The final stockholding position will be assessed as of December 10, 2020.

Itaú Unibanco Holding has disclosed the differences between its financial statements prepared under BRGAAP and IFRS for the period ending September 30, 2020. The adoption of IFRS 9, which replaced IAS 39, significantly affects the recognition and measurement of financial instruments. As of September 30, 2020, total assets under IFRS amounted to R$1,998,284 million, with adjustments totaling R$111,836 million from BRGAAP. Total stockholders' equity under IFRS was reported at R$147,928 million. Detailed financial statements are available on their investor relations website.

Itaú Unibanco Holding S.A. has released its Complete Financial Statements and Management Discussion for Q3 2020, ending September 30, 2020. These documents are accessible on the Investor Relations website. The company will hold conference calls to discuss the results on November 4, 2020, with sessions in Portuguese at 8:00 a.m. EDT and in English at 9:30 a.m. EDT. Investors are encouraged to participate to gain insights into the company's financial performance.