Itau Unibanco

What Itau Unibanco does

Itaú Unibanco Holding S.A. is Brazil's largest bank by assets and one of Latin America's largest financial conglomerates, headquartered in São Paulo and publicly traded on NYSE (ITUB) and B3 (ITUB3/ITUB4). Founded in 1924 and formed through the 2008 merger of Itaú and Unibanco, the bank operates a universal banking franchise across five Latin American countries (Argentina, Chile, Paraguay, Uruguay, and a Colombia presence now being divested to Banco de Bogotá). It serves retail consumers via tiered sub-brands (Itaú, Uniclass, Personnalité, Private Bank) and corporates via Itaú Empresas and investment banking arm Itaú BBA, with a product set spanning current accounts, 70+ credit card variants, personal/home equity/payroll/real-estate loans, PIX instant payments, capitalization titles (PIC), consortia, insurance, wealth management, foreign exchange, and capital markets services.

The business monetizes through net interest income from lending (subscription/recurring), transaction fees and commissions (5-9% growth targeted for 2026), financial margin with clients (6.5-10.5% growth target for 2026), and equity distributions to shareholders (BRL 3.85 billion interest on capital approved for 2026). Distribution is omnichannel: one of Brazil's largest physical branch networks, a unified App Itaú mobile platform with iToken authentication, specialized sub-brand apps (Cartões, Personnalité, Empresas, íon), a correspondent partner network for credit and real estate, and dedicated phone/WhatsApp support centers. The bank positions itself on its 23.4% record ROE, stable 1.9% 90-day delinquency ratio amid rising industry defaults, 100-year brand heritage, and an "ecosystem approach" extending from startup support (Itaú Ventures R$500M CVC fund) through IPO-readiness services (Itaú BBA).

Technology and AI are increasingly central: the bank has invested "tens of billions of reais" in digital transformation, deployed AI for 30% faster incident resolution, automated 70% of security vulnerability fixes using Cognition's Devin, integrated Pix instant payments, and partners with Wise Platform for cross-border payments. With 10,000+ employees and a Forbes-cited brand ranking among Brazil's most recognized, Itaú Unibanco sustains scale advantages, customer-outcome metrics (30% higher business survival for Itaú Empresas clients, R$486 billion GDP impact from credit 2019-2024), and active inorganic moves including the Klap acquisition in Chile, divestiture of Colombian retail to Banco de Bogotá, the R$500M Itaú Ventures launch, and a ~$106M Nubank investment.

Name

Itau Unibanco

Legal name

Itaú Unibanco Holding S.A.

Website

https://itau.com.br

Company type

Public

Founded year

1945

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Itaú Unibanco is Brazil's largest bank by assets, operating a universal retail, corporate, and investment banking franchise across five Latin American countries via tiered sub-brands (Itaú, Uniclass, Personnalité, Private Bank, Empresas, BBA) and monetizing through net interest income, fees, and an integrated digital platform (App Itaú, PIX, Wise cross-border).

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221), Finance and Insurance (52)

SIC

National Commercial Banks (6021), State Commercial Banks (6022), Personal Credit Institutions (6141), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Customer Servicing & Contact Center Operations (Service Requests, Complaints) (FSABALAK)

akta.pro secondary industries

Ultra-High-Net-Worth (UHNW) Private Banking (FSABADAA), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

Keywords

• Retail banking services
• Corporate banking
• Investment banking
• Wealth management
• Consumer credit

Headquarters

HQ city

São Paulo

HQ country

Brazil

HQ region

Latin America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities including personal loans, credit cards, mortgages, vehicle financing, and business lending. The bank maintains focus on higher-income customers which supports stable 90-day delinquency ratio at 1.9%.
2. Fees and Commissions: Revenue from banking fees including account maintenance, credit card fees, transaction fees, and commission income. Itaú targets 5%-9% commissions growth for 2026.
3. Financial Margin with Clients: Growth target of 6.5%-10.5% for 2026 in financial margin with clients, indicating focus on spread-based revenue.
4. Interest on Capital: Dividend and interest on equity distributions to shareholders, with BRL 3.85 billion approved for payment in 2026.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

Itaú Unibanco is a universal bank offering comprehensive financial services across multiple segments including current accounts, credit cards (over 70 options), personal loans, home equity, payroll loans, mortgage financing, investments (fixed income, funds, stocks, retirement), capitalization titles (PIC), consortium plans, insurance products, and foreign exchange services. The bank serves retail customers through segmented tiers (Itaú Uniclass, Itaú Personnalité, Itaú Private Bank), businesses through Itaú Empresas, and large corporates through investment banking division Itaú BBA. All services are accessible through physical branches, mobile applications, correspondent partners, and digital channels.

Product overview

Itaú Unibanco operates as a multi-brand banking platform with distinct segments serving different customer profiles. The core offering centers on the main Banco Itaú brand providing current accounts, credit cards (70+ options), personal loans, home equity credit, home financing, investments, and PIX instant payments. The PIC (Título de Capitalização) family offers savings-linked lottery products in four tiers (PIC 30/60/90/120). The Consórcio (group savings) program enables interest-free vehicle and real estate purchases. Premium sub-brands include Itaú Uniclass (mid-tier with VIP lounges and Minhas Vantagens), Itaú Personnalité (high-end wealth management with Black cards, The One card, and comprehensive advisory), and Itaú Private Bank (ultra-high-net-worth). Business banking is served through Itaú Empresas with POS (Laranjinha) and SME credit solutions. All segments are accessible through the unified App Itaú platform with iToken authentication. The bank also provides insurance (life, auto, travel, home, dental, pet, cell phone), portability services, debt renegotiation (Novo Desenrola Brasil), and foreign exchange operations. International operations span subsidiaries in Chile (Banco Itaú Chile), Argentina, Colombia, Paraguay, and Uruguay.

Differentiator

Problem solved

Functional benefit

Brands

• Itaú BBA: Investment banking and corporate banking services for institutional clients
• Itaú Ventures
• íon
• Laranjinha
• PIC Itaú
• Consórcio Itaú
• Combinaqui
• Minhas Vantagens
• Itau Shop
• itu (neobank)

Products and services

• Conta Corrente Itaú (Current Account) Primary checking account service enabling deposits, withdrawals, transfers, payments, and salary deposits with various package tiers including free basic accounts and premium options for individual customers in Brazil.

Quantifiable outcome

• 40% loan portfolio growth and 23.4% ROE achieved following digital transformation
• +6 more outcomes

Named customers5 records

Segments7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability5 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• BrasilprevminorStrategic or Co-development Partner · 23 June 2026Brasilprev, Brazil's largest open complementary pension company with R$484.2 billion in AUM, plans to launch new income options in H2 2026. Itaú mentioned in context of private pension industry trends.
• Dotz S.A.minorStrategic or Co-development Partner · 27 March 2026Dotz operates Brazil's leading multi-partner loyalty platform with millions of active users and partnerships with major retailers and financial institutions including Itaú Unibanco.
• Magazine LuizacoreStrategic or Co-development Partner · 12 March 202650/50 joint venture Luizacred generated R$525 million in profit with 25% ROE in 2024, with improving non-performing loan rates. The partnership allows Magazine Luiza to reduce retail dependence while providing Itaú with retail credit portfolio.
• Brazilian National Treasury Attorney General's Office (PGFN)minorOthers · 4 February 2026Tax settlement agreement with PGFN resulting in approximately 1 billion reais payment, resolving court disputes over CPMF, PIS, Cofins, income tax, and CSLL with average 21% discount on fines, interest, and penalties.
• Banco de BogotáminorChannel Partner/ Reseller/ Distributor · 24 December 2025Itaú Unibanco selling its retail banking operations in Colombia and Panama to Banco de Bogotá, transferring approximately 267,000 customers, COP 6.5 trillion in loans, and COP 4.1 trillion in deposits as part of strategic focus on higher-return segments.
• Klap (acquired by Banco Itaú Chile)coreStrategic or Co-development Partner · 17 December 2025Banco Itaú Chile, subsidiary of Itaú Unibanco, acquired 100% of Klap, a leading payment acquiring platform in Chile with 8.4% market share and approximately 80 million monthly transactions across 30,000+ POS. Alantra acted as financial advisor.
• Wise PlatformcoreTechnology or Integration · 1 December 2025Raiffeisen Bank International and Itaú Unibanco partnered with Wise Platform to solve critical cross-border payment infrastructure challenges without time and investment required for building in-house capabilities.
• Wise (formerly TransferWise)coreTechnology or Integration · 26 March 2025Partnership with Wise Platform enabling Itaú customers to send and make digital payments in foreign currency instantly through the Itaú app, initially supporting Euros and Pound Sterling with plans for 12 additional currencies including USD by end of 2025. Solution delivers immediate digital payments with real-time tracking, mimicking Brazil's Pix instant payment system.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Nubank: Brazil's largest digital-only bank and Itaú's most disruptive challenger, serving tens of millions of mass-market customers with low-fee accounts and credit cards. Overlaps in retail deposits, credit cards, and personal loans.
• XP Inc. Brazil's largest independent investment platform with open-architecture funds, fixed income, equities, and wealth advisory. Competes with Itaú's Personnalité and Private Bank segments for high-net-worth clients.

Direct peers

• BTG Pactual: Largest Latin American investment bank with growing retail and digital banking presence. Overlaps with Itaú BBA in investment banking, ECM, and M&A advisory; competes for high-net-worth and institutional clients.
• Banco Bradesco: Brazil's second-largest private bank, also a universal bank serving retail, SME, corporate, and wealth segments. Closest direct peer with overlapping business mix, similar digital transformation initiatives, and comparable ROE targets.
• Banco do Brasil: State-controlled Brazilian universal bank with comparable retail and corporate banking operations. Participates in many of the same syndicated financings (Eve Air Mobility, BRB rescue) and competes head-to-head in agricultural, SME, and government segments.
• Banco de Bogotá: Colombian universal bank and the buyer of Itaú's Colombia and Panama retail operations. Operates in similar retail and corporate banking segments in the Andean region and is now Itaú's regional partner for those markets.
• Caixa Econômica Federal: Brazilian state-owned federal savings bank, dominant in payroll, mortgage, and lottery-linked savings. Competes directly with Itaú in retail deposits, housing finance, and government payroll relationships.
• Santander Brasil: Subsidiary of Santander Group operating as a universal bank in Brazil across retail, SME, and corporate. Comparable in product breadth, wealth management, and digital transformation investments.

Others

• Banco Itaú Chile: Wholly-owned subsidiary of Itaú Unibanco operating as a commercial bank in Chile; recently acquired Klap payment platform. Useful as a subsidiary benchmark for cross-border retail and acquiring operations in Latin America.

Broad incumbents

• JPMorgan Chase: Global universal bank with substantial Brazilian investment banking presence and emerging retail ambitions. Comparable to Itaú in scale of operations, digital transformation investments, and AI deployment in banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/itauunibanco_ri
• YouTubeyoutube.com/itau
• Facebookfacebook.com/itau
• Instagraminstagram.com/itau

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments28 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Itau Unibanco