Suvarna Garge (Editor)

Itaú Unibanco

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Type  Sociedade Anônima
Headquarters  São Paulo, Brazil
Area served  Worldwide
Founder  Walter Moreira Salles
Itaú Unibanco httpslh6googleusercontentcomupU6GeZ4XwAAA
Traded as  BM&F Bovespa: ITUB3, ITUB4 NYSE: ITUB
Industry  Banking, Financial services
Founded  2008; 9 years ago (2008)
Key people  Roberto Egydio Setubal, (CEO) Pedro Moreira Salles, (Chairman)
Stock price  ITUB4 (BVMF) R$ 39.31 -0.51 (-1.28%)16 Mar, 5:56 PM GMT-3 - Disclaimer
CEO  Roberto Setubal (Mar 2003–)
Subsidiaries  Corpbanca, Banco Itaú Argentina
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Itaú Unibanco is a Brazilian publicly quoted bank with headquarters in São Paulo, Brazil. The bank is the result of the merger of Banco Itaú and Unibanco, which occurred on November 4, 2008 to form Itaú Unibanco Holding S.A, the largest financial conglomerate in the Southern Hemisphere and is the 10th largest bank in the world by market value. The bank its listed at the BM&F Bovespa in São Paulo and in NYSE in New York. It currently is the biggest Latin American bank by assets.

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Itaú Unibanco owns Rede, the second largest Brazilian card payment company. Itaú Unibanco accounts for about 11% of the Brazilian market for retail banking services. It has operations in Argentina, Chile, Paraguay and Uruguay in South America, as well as in the United Kingdom, Luxembourg and Portugal in Europe, United States, Japan, China, Hong Kong and United Arab Emirates in Asia. It is the most important subsidiary of Investimentos Itaúsa, a large conglomerate that ranks among Fortune magazine's top 500 corporations in the world. The bank has offices in Asuncion, Buenos Aires, Cayman Islands, Dubai, Hong Kong, Lisbon, London, Luxembourg, Montevideo, Nassau, New York City, Santiago, Shanghai and Tokyo On August 22, 2009, Itaú Unibanco and insurance company Porto Seguro disclosed that they had entered into an alliance.

The alliance aims to combine their residential and automobile insurance operations and includes an Operating Agreement under which the alliance will have exclusive access to offer and distribute homeowner and auto insurance products to clients of Itaú Unibanco's branch network in Brazil and Uruguay (“Alliance”). Currently the bank has over 32,956 service points being 4.495 bank branches and 27.981 ATMs in Brazil and in the world.

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In September 2006, Itaú bought the BankBoston assets in Brazil, Chile and Uruguay. In June 2013, the bank agreed to buy Citibank Uruguay’s retail banking operations.

The bank also owns and operates an Embraer Legacy 650 aircraft (as of August 2016).

References

Itaú Unibanco Wikipedia


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