ITAÚ UNIBANCO - Projections

PR Newswire

SÃO PAULO, Nov. 4, 2024

SÃO PAULO, Nov. 4, 2024 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Itaú Unibanco" or "Company"), in compliance with the provisions in Article 157, paragraph 4 of Law No. 6,404/76 and in Resolution No. 44/21 of the Brazilian Securities and Exchange Commission $(CVM)$, informs its stockholders and the market in general that it released as of this date its revised projections for the year 2024 in accordance with item 3 ("Projections") of the Reference Form.

 
2024 Forecast         Consolidated          Growth on a           Reviewed 
                                       comparable basis (4) 
-----------------  ------------------  ---------------------  ---------------- 
Total credit         Growth between                            Growth Between 
portfolio(1)          6.5% and 9.5%                            9.5% and 12.5% 
-----------------  ------------------  ---------------------  ---------------- 
Financial margin     Growth between       Growth between         Maintened 
with clients          4.5% and 7.5%        5.5% and 8.5% 
-----------------  ------------------  ---------------------  ---------------- 
Financial margin    Between R$3.0 bn                             Maintened 
with the market       and R$5.0 bn 
-----------------  ------------------  ---------------------  ---------------- 
Cost of credit(2)  Between R$33.5 bn                             Maintened 
                     and R$36.5 bn 
-----------------  ------------------  ---------------------  ---------------- 
Commissions and      Growth between       Growth between         Maintened 
fees and results      5.0% and 8.0%        5.5% and 8.5% 
from insurance 
operations(3) 
-----------------  ------------------  ---------------------  ---------------- 
Non interest         Growth between       Growth between         Maintened 
expenses(5)           4.0% and 7.0%        5.0% and 8.0% 
-----------------  ------------------  ---------------------  ---------------- 
Effective tax           Between                                  Maintened 
rate                 29.5% and 31.5% 
-----------------  ------------------  ---------------------  ---------------- 
(1) Includes financial guarantees provided and corporate securities; (2) 
Composed of results from loan losses, impairment and discounts granted; (3) 
Commissions and fees (+) income from insurance, pension plan and premium bonds 
operations (-) expenses for claims (-) insurance, pension plan and premium 
bonds selling expenses; (4) Considers pro forma adjustments in 2023 of the 
sale of Banco Itaú Argentina; (5) Core expenses below inflation. 
Calculated based on Brazil core expenses. 
 

It is important to mention that since July/24 the company has been considering a cost of capital of around 14.0% p.y. in the management of its businesses.

Information on outlooks for the business, projections and operational and financial goals are solely forecasts, based on management's current outlook in relation to the future of Itaú Unibanco. These expectations are highly dependent on market conditions, general economic performance of the country, of the sector and the international markets. Therefore, our effective results and performance may differ from those forecasted in this prospective information.

São Paulo -- SP, November 04, 2024.

Gustavo Lopes Rodrigues

Investor Relations Officer

CONTACT:

Itaú Unibanco

Comunicação Corporativa

Phone: (11) 5019-8880 / 8881

E-mail: imprensa@itau-unibanco.com.br

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SOURCE Itaú Unibanco Holding S.A.

(END) Dow Jones Newswires

November 04, 2024 17:39 ET (22:39 GMT)