Itaú Unibanco (NYSE: ITUB) posts 13.1% profit growth and 23.4% ROE in 2025
Rhea-AI Filing Summary
Itaú Unibanco Holding S.A. reported a recurring managerial result of R$46.8 billion in 2025, up 13.1% from 2024, with return on equity of 23.4%, an increase of 120 basis points. The total adjusted loan portfolio reached R$1.49 trillion, growing 6.0% and helping expand the financial margin with clients by 12.1%.
Asset quality remained strong, with the 90-day non-performing loan ratio at 1.9%, improving 10 basis points versus 2024 and at the best historical level for individuals in Brazil. The bank operated an investment ecosystem administering, managing, or holding in custody around R$4.1 trillion in assets and saw insurance results advance 17.0%.
Non-interest expenses rose 7.5% to R$66.8 billion, reflecting technology investments and wage negotiations, while the efficiency ratio in Brazil improved to 36.9% in the fourth quarter. Tier I capital (CET I) ended at 12.3%. The company distributed R$33.7 billion in dividends and interest on capital in 2025, corresponding to a 72.0% payout.
Positive
- Strong profitability and returns: Recurring managerial result reached R$46.8 billion in 2025, up 13.1% year-over-year, with return on equity of 23.4%, indicating robust earnings power.
- Solid asset quality and capital: The 90-day NPL ratio improved to 1.9% and Tier I capital (CET I) stood at 12.3%, supporting growth with prudent risk management.
- Material shareholder distributions: Itaú Unibanco distributed R$33.7 billion in dividends and interest on capital in 2025, resulting in a payout of 72.0%, highlighting a strong capital return profile.
Negative
- None.
Insights
Double‑digit profit growth with strong ROE, solid asset quality, and high shareholder payouts.
Itaú Unibanco delivered recurring managerial profit of R$46.8 billion in 2025, up 13.1%, and a robust ROE of 23.4%. Loan growth of 6.0% to R$1.49 trillion, combined with a 12.1% increase in client financial margin, shows healthy credit expansion and revenue generation.
Credit quality metrics were favorable: the 90‑day NPL ratio was 1.9% in 2025, improving by 10 basis points from 2024, with individuals in Brazil at their best historical level. Insurance results advanced 17.0% and the bank’s investment ecosystem oversaw about R$4.1 trillion in assets, supporting diversified fee and commission income.
On costs, non‑interest expenses grew 7.5% to R$66.8 billion, largely due to technology investments and wage agreements, but the efficiency ratio in Brazil still reached 36.9% in the fourth quarter. Capitalization remained comfortable with CET I at 12.3%. Shareholder remuneration was significant, with R$33.7 billion in dividends and interest on capital, corresponding to a 72.0% payout for 2025.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How much profit did Itaú Unibanco (ITUB) generate in 2025?
Itaú Unibanco reported a recurring managerial result of R$46.8 billion in 2025. This represented 13.1% growth compared to 2024, reflecting stronger client margins, solid loan expansion, and improved credit quality, while maintaining comfortable capital and efficiency levels across its operations.
What was Itaú Unibanco (ITUB) return on equity in 2025?
Itaú Unibanco achieved a return on equity of 23.4% in 2025. This ROE increased by 120 basis points versus 2024, supported by higher recurring managerial earnings, disciplined cost control and efficiency gains, alongside stable asset quality and adequate capitalization.
How did Itaú Unibanco’s (ITUB) loan portfolio perform in 2025?
The total adjusted loan portfolio reached R$1.49 trillion in 2025, growing 6.0% year-over-year. Growth was helped by individual lending, including double‑digit expansion in mortgage loans, while maintaining a low 90‑day NPL ratio of 1.9% for the year.
What was Itaú Unibanco’s (ITUB) asset quality like in 2025?
Asset quality remained strong, with the 90‑day NPL ratio at 1.9% in 2025. This represented a 10 basis‑point improvement versus 2024, and the individuals delinquency indicator in Brazil stayed at its best historical level, underscoring disciplined risk management.
How efficient was Itaú Unibanco’s (ITUB) operation in 2025?
The efficiency ratio in Brazil reached 36.9% in the fourth quarter of 2025, a historical low for that period. Non-interest expenses rose 7.5% to R$66.8 billion, driven by technology investments and wage agreements, but revenue growth more than offset these higher costs.
| 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 February, 2026 | |||||||||||
| Comission 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
| 99.1 | ITAÚ UNIBANCO - Press release on the results of the fourth quarter of 2025 | ||||||||||
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| 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: February 4, 2026. | ||||||||||||||
Itaú Unibanco Holding S.A. By: /s/ Gustavo Lopes Rodrigues Name: Gustavo Lopes Rodrigues Title: Investor Relations Officer. | ||||||||||||||
Itaú Unibanco reports 13.1% profit growth in 2025 and ROE1 of 23.4% In 2025, the bank’s loan portfolio reached R$1.5 trillion, while delinquency indicators stood at their best historical levels São Paulo, February 4, 2026 | Itaú Unibanco reported a recurring managerial result of R$46.8 billion in 2025, up 13.1% year-over-year, with ROE of 23.4%, an increase of 120 bps compared to 2024. The loan portfolio grew 6.0% in 2025, supporting the expansion of the financial margin with clients in the period (+12.1%). The expansion of the margin was also driven by higher liability volumes and higher remuneration on the bank’s own working capital. At the same time, credit quality indicators continued to improve throughout the year, which resulted in an 6.1% increase in the cost of credit in the period. (*) As of January 2025, CMN Resolution No. 4,966/21 came into force. Adoption was prospective, with no material effects on results Highlights of 2025 • Delinquency over 90 days overdue decreased by 10 bps over the year. In Brazil, the individuals indicator remained at its best historical level. • The loan portfolio grew 6.0% compared to 2024. In the individual segment, growth was 6.6%, driven by Mortgage loans (+12.8%)—a segment in which we are the largest private bank—as well as Credit card loans (+8.0%) and Personal loans (+2.2%). • Commissions and fees and result from insurance operations increased 6.3% in the year, driven by the growth in asset management revenues, higher gains from card issuance, and increased revenues from payments and collections. As part of its continued focus on offering a solid, integrated, and reliable banking and financial platform, Itaú Unibanco ended 2025 operating an investment ecosystem in which it administers, manages, or holds in custody approximately R$4.1 trillion in assets, supported by rigorous governance and technical discipline across every stage of the investor journey. Also noteworthy was the increase in acquiring volume, which reached R$1 trillion in the year. Insurance results advanced 17.0%, driven by higher earned premiums. 1 Recurring return on average equity ² Includes financial guarantees provided and corporate securities ³ Includes securities In R$ million (except where otherwise indicated) 4Q25 3Q25 % 2025 2024 % Recurring Managerial Result 12,317 11,876 3.7% 46,830 41,403 13.1% Annualized Recurring Managerial Return on Average Equity 24.4% 23.3% 110 bps 23.4% 22.2% 120 bps Total Adjusted Loan Portfolio2 (R$ billion) 1,490.8 1,402.0 6.3% 1,490.8 1,406.4 6.0% NPL ratio (90-days) – Total 3 1.9% 1.9% stable 1.9% 2.0% - 10 bps “We delivered consistent results in 2025, underpinned by risk discipline, soundness and robust governance. This is also reflected in our investment ecosystem, in which we administer, manage and hold in custody approximately R$ 4.1 trillion in assets, supported by transparency, integrity, suitability and multiple layers of control. Such scale demands responsibility and the right incentives, which are part of our fiduciary duty and of protecting investors and the financial system. We enter 2026 prepared to grow responsibly and continue creating value in a sustainable way.” Milton Maluhy Filho CEO do Itaú Unibanco
• Non-interest expenses totaled R$66.8 billion, up 7.5% compared to 2024. The increase mainly reflects investments in technology (personnel and infrastructure), as well as the impact of the collective wage labor agreement negotiations. The efficiency ratio reached 36.9% in Brazil, the lowest level in the historical series for a fourth quarter. • Organic capital generation supported business growth and absorbed the regulatory impacts of the period. Tier I Capital (CET I) ended the year at 12.3%. In 2025, Itaú Unibanco reaffirmed its commitment to shareholder value creation by distributing R$33.7 billion in dividends and interest on capital, resulting in a payout4 of 72.0%. Reinforcing its corporate governance practices with the market and its shareholders, Itaú Unibanco discloses its 2026 consolidated forecast, as per the table below: (1) Includes financial guarantees provided and private securities; (2) Composed of expected loss expenses, discounts granted and recovery of loans written off as losses; (3) Commissions and fees (+) income from insurance, pension plan and premium bonds operations (-) expenses for claims (-) insurance, pension plan and premium bonds selling expenses. More information on Itaú Unibanco’s results is available on the Itaú Unibanco Investor Relations website: http://www.itau.com.br/relacoes-com-investidores/en. Corporate Comms – Itaú Unibanco imprensa@itau-unibanco.com.br 4 The net amount distributed in 2025 totaled R$31.7 billion, resulting in a net payout of 67.6%. “We closed 2025 with robust financial performance and high asset quality, reflecting a strategy grounded in discipline, prudence, and consistent execution. The loan portfolio remained healthy, the cost of credit came in at the midpoint of the guidance, and we advanced in efficiency and cost control. We maintained capitalization and liquidity at comfortable levels, supported by a prudent capital policy and conservative risk management. Our 2026 guidances reflect this solid foundation: the ability to navigate different scenarios and continue delivering returns with responsibility and consistency.” Gabriel Amado de Moura CFO do Itaú Unibanco