Itaú Unibanco (ITUB) secures new 5-year Minas Gerais payroll deal
Rhea-AI Filing Summary
Itaú Unibanco Holding S.A. reports that it has won a new bidding process run by the Government of the State of Minas Gerais to manage payroll and payment services. The agreement covers payment services for approximately 670 thousand state employees, including active workers, retirees, pensioners and corporate suppliers.
The bank already provides these services under an existing contract that runs until the end of this year. The new agreement for the transaction has been executed with a five-year term starting on December 22, 2026. Under the contract, subsidiary Itaú Unibanco S.A. will pay BRL 2.188 billion for payroll management, which will be recognized as an intangible asset and recorded in deferred profit or loss.
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Key Figures
Contract payment: BRL 2.188 billion
Beneficiaries covered: approximately 670 thousand people
Contract term: 5 years
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4 metrics
Contract payment
BRL 2.188 billion
Total amount payable for payroll management under new agreement
Beneficiaries covered
approximately 670 thousand people
State of Minas Gerais employees, retirees, pensioners and suppliers
Contract term
5 years
Duration of new Minas Gerais payroll agreement starting December 22, 2026
Contract start date
December 22, 2026
Effective date of new payroll management agreement
Key Terms
bidding process, payroll management services, intangible asset, deferred profit (or loss)
4 terms
bidding process regulatory
"it has won the new bidding process conducted by the Government of the State of Minas Gerais"
payroll management services financial
"Itaú wins the bidding process promoted by Minas Gerais for payroll management services"
intangible asset financial
"This amount will be recorded as an intangible asset, with its recognition in deferred profit (or loss)"
Non-physical assets such as patents, trademarks, software, customer relationships, brand reputation or goodwill that provide future economic benefit. Investors care because these unseen resources can drive revenue, reduce costs or create competitive advantage, but they are harder to value and sell than physical assets, so they influence company valuation, risk and prospects much like an invisible engine that powers growth yet can be difficult to measure or replace.
deferred profit (or loss) financial
"with its recognition in deferred profit (or loss)"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Itaú Unibanco (ITUB) announce in this Form 6-K?
Itaú Unibanco announced it won a new bidding process from the State of Minas Gerais to provide payroll and payment services. The deal extends its role managing payments for state employees and suppliers under a new five-year agreement starting December 22, 2026.
How many people are covered by Itaú Unibanco’s new Minas Gerais payroll contract?
The agreement covers payment services for approximately 670 thousand individuals tied to the State of Minas Gerais. This includes active state employees, retired workers, pensioners, and corporate suppliers that receive payments from the state government under the payroll management arrangement.
What is the financial value of Itaú Unibanco’s Minas Gerais payroll management deal?
Under the agreement, Itaú Unibanco S.A. will pay BRL 2.188 billion for managing the state’s payroll. This amount will be booked as an intangible asset on the company’s balance sheet, with its impact recognized over time in deferred profit or loss.
When does Itaú Unibanco’s new payroll contract with Minas Gerais start and how long will it last?
The new agreement begins on December 22, 2026 and has a five-year term. Itaú Unibanco currently provides these services under an existing contract that remains in effect until the end of this year, ensuring continuity between the two arrangements.
How will Itaú Unibanco account for the BRL 2.188 billion payment in this transaction?
The BRL 2.188 billion payment for payroll management will be recorded as an intangible asset. Its financial effect will be recognized through deferred profit or loss, meaning the income statement impact will be spread over time rather than taken immediately.
Did Itaú Unibanco previously manage Minas Gerais’ payroll before this new contract?
Yes. Itaú Unibanco already provides payroll and payment services to the State of Minas Gerais under a contract disclosed in a July 16, 2021 material fact. That earlier contract remains valid until year-end, preceding the new five-year agreement starting December 22, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
FORM 6-K
__________________
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of July, 2026
Commission File Number: 001-15276
___________________________
Itaú Unibanco Holding S.A.
(Exact name of registrant as specified in its charter)
Itaú Unibanco Holding S.A.
(Translation of Registrant’s Name into English)
___________________________
Praça Alfredo Egydio de Souza Aranha, 100 - Torre Conceição
CEP 04344-902 São Paulo, SP, Brazil
(Address of principal executive office)
___________________________
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Yes ☐ No ☒
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Yes ☐ No ☒
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):
82–___________
EXHIBIT INDEX
ITAÚ UNIBANCO - Announcement to the market: Itaú wins the bidding process promoted by Minas Gerais for payroll management services
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: July 1, 2026.
Itaú Unibanco Holding S.A.
By: /s/ Gustavo Lopes Rodrigues
___________________________
Name: Gustavo Lopes Rodrigues
Title: Investor Relations Officer.
Announcement to the Market Itaú Unibanco Holding S.A. (“Company” or “Itaú Unibanco”) hereby informs its shareholders that it has won the new bidding process conducted by the Government of the State of Minas Gerais, having submitted a financial proposal to provide payment services to approximately 670 thousand state employees (active and retired, as well as pensioners) and corporate suppliers of the State of Minas Gerais (the “Transaction”). Itaú Unibanco currently already provides these services to the Government of the State of Minas Gerais, as disclosed in a Material Fact dated July 16, 2021. The contract executed at that time remains in effect until the end of this year. As a result of the new bidding process, the respective agreement for the Transaction was executed on this date, with a five-year term starting on December 22, 2026. Under the agreement, Itaú Unibanco S.A., a subsidiary of the Company, will pay a total amount of BRL 2.188 billion for the management of the payroll. This amount will be recorded as an intangible asset, with its recognition in deferred profit (or loss). São Paulo - SP, July 01, 2026. Gustavo Lopes Rodrigues Investor Relations Officer