Last $12.88 USD
Change Today -0.22 / -1.68%
Volume 3.6M
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As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

itau unibanco h-spon prf adr (ITUB) Key Developments

Itaú Unibanco To Sell Assets

Itaú Unibanco Holding S.A. (BOVESPA:ITUB4) intends to sell insurance assets. The company plans to sell insurance assets in Brazil and focus on insurance operations in low-risk segments.

Itaú Unibanco Eyes To Acquire Grupo Financiero

Itaú Unibanco Holding S.A. (BOVESPA:ITUB4) wants to enter the Mexican retail banking market and is eyeing to acquire Grupo Financiero Banamex, S.A. de C.V. in an attempt to enter the Mexican retail banking market, as a potential way in, Roberto Egydio Setubal, Chief Executive Officer of Itaú Unibanco, said. Speaking to shareholders at an event in São Paulo, Setubal did not elaborate on Itaú's strategy for Mexico. "Itaú Unibanco has an interest in entering the Mexican market ... Banamex is an option that could be evaluated," Setubal said in response to a question from a shareholder.

Itaú Unibanco Has No Plans For Overseas Acquisition

Itaú Unibanco Holding S.A. (BOVESPA:ITUB4) has no immediate plans to buy a rival overseas as an ongoing decline in Brazil's currency is making foreign acquisitions more expensive, a senior executive said on December 16, 2014. "With the dollar gaining ground and staying at a high level, it is hard to think of potential overseas transactions at this point," said Alfredo Egydio Setubal, Itaú's Senior Vice President for investor relations, at a São Paulo event.

Itau Unibanco Announces Earnings Results for the Third Quarter of 2014

Itau Unibanco announced earnings results for the third quarter of 2014. Recurring net income of BRL 5.46 billion was up 10% on the previous quarter and jumped 36% year-on-year. Recurring net income was 10% above the market consensus forecast, while the bank's net income came in at BRL 5.40 billion due to non-recurring charges. Recurring ROAE improved to 24.7% in the third quarter from 23.7% in the previous quarter and from 20.9% last year. Net interest income rose 6% compared to the second quarter of 2014 and jumped 21% from the year ago quarter.

Societe Generale Reportedly Negotiating Sale Of Its Brazilian Assets

Societe Generale Group (ENXTPA:GLE) has been negotiating the sale of its Brazilian assets to major local banks for the past four months, reported Reuters citing a report published in newspaper O Estado de S. Paulo. Banco Bradesco S.A. (BOVESPA:BBDC4), Banco Santander (Brasil) S.A. (BOVESPA:SANB4) and Itaú Unibanco Holding S.A. (BOVESPA:ITUB4) may be among the bidders interested, Estado reported, without identifying the source of the information. The net worth of Societe Generale in Brazil was BRL 1 billion in 2013, according to the newspaper. Banco Bradesco declined to comment on the report. Representatives of the other banks mentioned in the story were not immediately available.

 

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ITUB

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Valuation ITUB Industry Range
Price/Earnings 9.0x
Price/Sales 2.5x
Price/Book 1.9x
Price/Cash Flow 4.5x
TEV/Sales NM Not Meaningful
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