Report indicates that the holding company’s results were driven by Itaú Unibanco and debt management strategy
THE Itausaa holding company of the Itaú group, had a recurring net profit of R$3.63 billion in the 2nd quarter of 2024, an increase of 22.4% compared to the same period in 2023. Read the full from the financial statement released by the company (PDF – 1 MB).
According to the report, released this Monday (Aug 12, 2024), the result was driven by the good performance of the group’s companies, with emphasis on Itaú Unibanco, and by the debt management strategy adopted by the company.
Itaúsa’s ROE (return on equity) reached 17.7% in the quarter, up 1.9 percentage points compared to the same period last year. The company’s total assets rose 4.4% in the period, to R$92.27 billion, while net debt fell 70.1% in one year, reaching R$833 million.
Itaúsa also announced the payment of R$1.4 billion in JCP (interest on equity) for August 30, of which R$830 million was declared in June and R$615 million in March.
The company also refinanced the 3rd debenture issue through the 7th issue in the amount of R$1.3 billion in July, aiming to reduce the average cost of debt, increase the average term and eliminate maturities until 2028.
Furthermore, Itaúsa was rated AAA (triple A) by S&P Global in July, on a national scale – the highest level of risk rating attributed to a debt issuer by credit rating agencies.
“Given the solid performance of our portfolio and the successful execution of our liability management strategy, we reported growing operating results this quarter, in addition to improved financial results. We remain confident that we will continue to create value for our shareholders and society.”, stated Alfredo Setubal, president of Itaúsa.
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