Itau Unibanco
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).
- Company typePublic
- Founded1945
- HeadquartersSão Paulo, Brazil
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
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.
Itau Unibanco firmographics
Firmographics- 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
Itau Unibanco industry classification
Industry- 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
Where Itau Unibanco is headquartered
LocationHeadquarters
- HQ city
- São Paulo
- HQ country
- Brazil
- HQ region
- Latin America
Offices6 records
Markets served
Itau Unibanco business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- 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%.
- 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.
- Financial Margin with Clients: Growth target of 6.5%-10.5% for 2026 in financial margin with clients, indicating focus on spread-based revenue.
- Interest on Capital: Dividend and interest on equity distributions to shareholders, with BRL 3.85 billion approved for payment in 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | PIC 30 - R$30/month capitalização product |
| Subscription | Monthly | PIC 60 - R$60/month capitalização product |
| Subscription | Monthly | PIC 90 - R$90/month capitalização product |
| Subscription | Monthly | PIC 120 - R$120/month capitalização product |
| Usage-based | Monthly | Personal loan interest rates |
| Other | Pay-as-you-go | Debt renegotiation discounts |
Go-to-market motion1 record
Distribution channels8 records
Marketing channels6 records
Itau Unibanco product offering
Product offeringCore 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
Companies that use Itau Unibanco
Customer profileNamed customers5 records
Segments7 records
Ideal customer profiles4 records
Itau Unibanco technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
AI capability5 records
Feature4 records
Itau Unibanco partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered minor and core.
- BrasilprevminorBrasilprev, 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.minorDotz 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 Luizacore50/50 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)minorTax 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 BogotáminorItaú 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)coreBanco 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 PlatformcoreRaiffeisen 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)corePartnership 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
Itau Unibanco competitors and assessment
Company assessmentEmerging 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
Itau Unibanco social profiles
Digital presenceItau Unibanco financial estimates
Financial estimateRevenue estimate
Valuation estimate
Itau Unibanco leadership team
Management profileNumber of profiles
Profiles5 records
Itau Unibanco subsidiaries and ownership
Company hierarchySubsidiaries7 records
Itau Unibanco funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Itau Unibanco M&A and investment
M&A and investmentM&A8 records
Investments28 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Itau Unibanco
What does Itau Unibanco do?
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.
Is Itau Unibanco a public or private company?
Itau Unibanco is a public company. It is classified as public and is currently operating.
When was Itau Unibanco founded?
Itau Unibanco was founded in 1945. It employs 5,001 to 10,000 people.
Where is Itau Unibanco based?
Itau Unibanco is headquartered in São Paulo, Brazil, in the Latin America region.
How does Itau Unibanco make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are fees and Commissions, financial Margin with Clients and interest on Capital.
Who are Itau Unibanco's main competitors?
Emerging players on record are Nubank and XP Inc.. Direct peers are BTG Pactual, Banco Bradesco, Banco do Brasil, Banco de Bogotá, Caixa Econômica Federal and Santander Brasil. Banco Itaú Chile is listed as an others. JPMorgan Chase is listed as a broad incumbent.
Does Itau Unibanco have an API?
No public API is recorded for Itau Unibanco.
What industry is Itau Unibanco in?
Itau Unibanco's product category is Retail Banking. Its primary akta.pro industry code is FSABALAK, Customer Servicing & Contact Center Operations (Service Requests, Complaints), with a secondary code of FSABADAA, Ultra-High-Net-Worth (UHNW) Private Banking. Its NAICS code is 52211 and its SIC code is 6021.