Itaú’s profit declines 49.3% and reaches $ 619 bn in the first quarter

Banco Itaú reported on Monday (4) that it recorded net accounting profit of R$ 3.401 billion ($ 619 billion) in the first quarter of 2020. The result represents a decrease of 49.3% compared to the same period of the previous year. The bank’s recurring net income, which excludes extraordinary factors in the fiscal quarter, totalled R$ 3,912 billion ($ 712 million), an amount 43.1% below that recorded in the first quarter of 2019.

Source: G1 Economia