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Itaú Unibanco - Material Fact - Projections

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Itaú Unibanco Holding S.A. revised its 2022 projections, citing increased growth expectations across various metrics. The total credit portfolio is now projected to grow between 9.0% to 12.0% (previously 15.5% to 17.5%) for consolidated and 11.5% to 14.5% for Brazil. The financial margin with clients is estimated to grow between 20.5% to 23.5%. The company maintained its financial margin with the market and cost of credit estimates, while expecting commissions and fees to increase between 3.5% to 6.5%.

Positive
  • Total credit portfolio expected to grow between 9.0% to 12.0%.
  • Financial margin with clients projected to increase between 20.5% to 23.5%.
  • Commissions and fees expected to rise between 3.5% to 6.5%.
Negative
  • Total credit portfolio growth expectations significantly reduced from previous estimates.
  • Overall financial performance may differ from forecasts due to market conditions.

SÃO PAULO, Aug. 8, 2022 /PRNewswire/ -- Itaú Unibanco Holding S.A. ("Company" or "Itaú Unibanco"), in compliance with Article 157, Paragraph 4 of Law 6,404/76 and Resolution no. 44/21 of the Brazilian Securities and Exchange Commission, informs its stockholders and the market in general that as of this date it has revised its projections for the year 2022 in accordance with the provision in item 11 ("Projections") of the Reference Form.


Consolidated

Brazil¹



previous

reviewed

previous

reviewed


total credit portfolio²

 growing between
  9.0% to 12.0%

 growing between 
15.5% to 17.5%

 growing between
11.5% to 14.5%

 growing between
19.0% to 21.0%


financial margin with clients

 growing between 
20.5% to 23.5%

 growing between
25.0% to 27.0%

 growing between
22.0% to 25.0%

 growing between
26.5% to 28.5%


financial margin with the market

range from
R$ 1.0 bi to R$ 3.0 bn

maintained

range from
R$ 0.3 bi to R$ 2.3 bn

maintained

the hedge of the capital ratio
with an impact of
approximately R$2 billion

cost of credit³

range from
R$ 25.0 bi to R$ 29.0 bn

range from
R$ 28.0 bi to R$ 31.0 bn

range from
R$ 23.0 bi to R$ 27.0 bn

range from
R$ 26.0 bi to R$ 29.0 bn


commissions and fees and results
from insurance operations4

 growing between  
3.5% to 6.5%

 growing between
7.0% to 9.0%

 growing between
4.0% to 7.0%

 growing between
7.5% to 9.5%

considers the adjusted 2021
result excluding participation
in XP  Inc

non-interest expenses

range from
3.0% to 7.0%

maintained

range from
3.0% to 7.0%

maintained

efficiency ratio in Brazil below 40%
in 4Q22. Core cost nominally stable
in 2022

effective tax rate

rate between 
30.0% to 33.0%

maintained

rate between
31.0% to 34.0%

maintained


recurring managerial ROE

-

-

-

-

sustainable ROE around 20%

capital

-

-

-

-

tier I capital above risk appetite 

(1)  Includes units abroad ex-Latin America; (2) Includes financial guarantees provided and corporate securities; (3) Composed of result from loan losses, impairment and discounts granted; (4) commissions and fees (+) income from insurance, pension plan and premium bonds operations (-) expenses for claims (-) insurance, pension plan and premium bonds selling expenses.

It's worth mentioning that the company considers, for management purposes, a cost of capital of around 14.5% per year.

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, August 8, 2022

Renato Lulia Jacob

Group Head of Investor Relations and Marketing Intelligence

Contact:  
Itaú Unibanco – Comunicação Corporativa
Telefone: (11) 5019-8880 / 8881
E-mail: imprensa@itau-unibanco.com.br

Cision View original content:https://www.prnewswire.com/news-releases/itau-unibanco---material-fact---projections-301601964.html

SOURCE Itaú Unibanco Holding S.A.

FAQ

What are Itaú Unibanco's revised projections for 2022?

Itaú Unibanco revised its 2022 projections with total credit portfolio growth set between 9.0% to 12.0% and financial margin with clients growing between 20.5% to 23.5%.

How has Itaú Unibanco's total credit portfolio forecast changed for 2022?

The total credit portfolio forecast was reduced from a previous range of 15.5% to 17.5% to a new range of 9.0% to 12.0%.

What is the expected growth range for financial margin with clients for Itaú Unibanco?

The expected growth range for financial margin with clients is between 20.5% to 23.5%.

What growth is projected for commissions and fees at Itaú Unibanco?

Commissions and fees at Itaú Unibanco are projected to grow between 3.5% to 6.5%.

How might market conditions affect Itaú Unibanco's financial performance?

Itaú Unibanco cautions that actual results may differ from forecasts due to market conditions and overall economic performance.

Itau Unibanco Holding S.A. American Depositary Shares

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