SAO PAULO (Reuters) – Itaúsa, the holding company that controls Itaú Unibanco, announced on Monday that it had recurring net income of 2.675 billion reais in the third quarter, an increase of 35.4% compared to the same stage in 2020.
In the report, the company stated that the advance mainly reflected the better result of Itaú, benefited by the expansion of the credit portfolio, better margin with defaults, in addition to the growth of expenses at a slower pace than inflation.
Among the industrial companies in Itaúsa’s portfolio, footwear manufacturer Alpargatas had a growth of 12.7% in net revenue, while the sanitary ware and wood panel producer Dexco also had expansion in all its main lines.
On the other hand, the results of the natural gas transport and distribution company NTS and the cooking gas company Copa Energia were pressured, the former by exchange rate effects and the latter by expenses with the purchase of Liquigás.
As of July, Itaúsa started to record the results of the basic sanitation company Aegea. She also has a stake in the XP investment platform, whose results also contributed to profit growth.
(By Aluísio Alves, edited by Alberto Alerigi Jr.)
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