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Itaú’s Profit Rose 7.1 Percent in the First Quarter

By Newsfeed/Reuters

RIO DE JANEIRO, BRAZIL - Itaú Unibanco recorded a recurring profit (excluding extraordinary effects) of R$6.877 billion in the first quarter, 7.1 percent higher than the result in the same quarter in 2018.

The number was also above the average forecast of analysts consulted by Reuters, of R$6.814 billion.

Net taxable income was R$6.710 billion, an increase of 6.8 percent over the first quarter of last year. Return on shareholders' equity reached 23.6 percent.

The provision for defaults expense amounted to R$4.206 billion in the quarter. The . . .

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