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Itau Unibanco's (ITUB) Q3 earnings improve year over year on higher operating revenues and an expanded managerial financial margin. Although expenses rise, the balance-sheet position stays robust.
Itau Unibanco (ITUB) awaits approval of its board of directors for its plan to create a separate entity, representing 41.05% of the capital of Investment in XP.
Higher revenues support Itau Unibanco's (ITUB) Q3 earnings. However, an increase in non-interest expenses hurt the results to some extent.
Banco Itaú Unibanco S.A. is a Brazilian financial services company headquartered in São Paulo, Brazil. Itaú Unibanco was formed through the merger of Banco Itaú and Unibanco in 2008. It is the largest banking institution in Brazil, as well as the largest in Latin America , [ 2 ] and the seventy-third largest bank in the world .
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Salles has been unofficially involved with Unibanco since birth, since the bank was headed for several decades by his father, the late Walter Moreira Salles. Pedro joined Unibanco in 1989 and became chairman in 1997, after serving as vice chairman for almost six years. In April 2004, Salles was elected CEO.
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Itau Unibanco's (ITUB) third-quarter 2018 earnings highlight lower provisions and higher revenues, partly muted by elevated expenses.