Itaú Unibanco, Brazil's largest private-sector bank by assets, reported recurring managerial net income of BRL 11.1 billion for the first quarter of 2025, a 14% increase compared with the same quarter a year earlier and a 2.2% sequential improvement on the final quarter of 2024. The result was published on the bank's investor relations website.
Return on equity was 22.5% for the quarter. Net interest income with clients rose 14% year-on-year.
EFFICIENCY AND ASSET QUALITY
The group's efficiency ratio reached 38.1% on a consolidated basis, which the bank described as the lowest level in its historical series, while in Brazil the ratio fell to 36.0%. The efficiency ratio measures operating costs as a proportion of revenues, and a lower figure indicates that a greater share of income is flowing to the bottom line rather than being consumed by overheads.
Itaú credited its cost efficiency programme, although strategic investments in technology pushed non-interest expenses up 9.8% year on year to BRL 15.8 billion.
The 90-day non-performing loan ratio edged down during the quarter, although the 15-90 day ratio rose to 2.2% from 2.0%. Non-performing loans aged more than 90 days fell to 2.3%.
BANK PROFILE
Itaú Unibanco operates across retail, wholesale, and asset management segments in Brazil, with additional presence in several other Latin American markets. The results are available through the bank's investor relations platform at itau.com.br.
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