Itaú’s profit drops 34.6% in 2020

Itau Unibanco recorded a 34.6% drop in last year’s profit compared to 2019, to R$18.5 billion ($3.4 bn) discounting extraordinary items. In the fourth quarter the decline was 26.1% to R$5.4 billion ($1 bn) when comparing the results of the country’s largest bank. Itau Unibanco is the first bank among the major banks to disclose its 2020 earnings.

Source: Folha