Profit of Itaú Unibanco has high of 18% in a year

SÃO PAULO-Itaú Unibanco reported net profit of RS $6.176 billion from January to March, 18% higher than the figure recorded a year earlier, R $5.162 billion. This is the second consecutive quarter of growth in the Bank''s results and the last under the command of Roberto Setubal, who passed the baton to Candido Bracher, after 23 years as CEO of the Bank by reaching the age limit for the job. The Executive assumed the Presidency of the institution yesterday. For the fourth quarter of 2016, of R $5.817 billion, the result of the Bank grew 6.17%.
Recurring net profit in the first quarter of Itaú Unibanco, R $6.176 billion, came in line with the projections of market analysts, who expected an average R $6.014 billion, according to seven houses consulted for the previous Broadcast. They are: Brazil''s Bank, Deutsche Bank, Goldman Sachs, BTG Pactual, Credit Suisse, UBS and two houses who preferred to not be identified.
The Broadcast, news in real time of the State Group, believes that the result is in line with the projections when the change up or down is up 5%.
The Ita''s profit in the first quarter was influenced, according to the Bank, in a report accompanying its financial statements, by reductions in expenses arising from interest on 7.8%, and 64.5% in impairment costs of provisions for loan losses at 7.4%, mainly in the retail segment. "In addition to these effects, we had 8.0% reduction of net with customers and 6.3% in the financial margin with the market", adds the institution.
The total loan portfolio of the institution was the R $586.998 billion at the end of March, 1.9% reduction compared to December, R $598.431 billion. In a year when the loans amounted to R $637.472 billion, the retraction came to 7.9%. Loans to individuals decreased by 1.6% and 2.0% while for corporations have shrunk 2.7% and 10.7%, in that order.
The total assets of Itaú totaled R $1.413 trillion in the first quarter, a fall of 1.0% compared with the three previous months, R $1.427 trillion. In comparison with the first quarter of 2016, when they were in R$ 1.398 trillion, an increase of 1.1%.
His net worth was the R $114.897 billion from January to March, an increase of 7.7% in 12 months and fall of 0.6% in comparison with the three previous months.
The recurring return on equity (ROE) annualized average was 22.0% in the first quarter against 20.7% in the quarter and 19.6% in the first quarter of 2016.
Net profit and recurring. ITA has also published net profit released, which considers the Corpbanca effect, bank acquired in Chile, R $6.052 billion in the first quarter, 16.74% increase over the same range of 2016, of R $5.184 billion. Compared with the fourth quarter of 2016, which was R $5.543 billion, grew up 9.18 percent.
Without the Corpbanca effect, the Bank''s net profit sum R $6.052 billion from January to March, up 18.41% in a year, R $5.111 billion. The main differences between the net profit and the result, according to the Bank in a report accompanying its financial statements were R $123,000,000 in asset adjustments, R $125,000,000 on amortization of goodwill from acquisitions made by group, among others.