Itaú Unibanco reported a recurring managerial net income of BRL 41.4 billion for full-year 2024 — an increase of 18.2% on the prior year — as the Brazilian lender's credit portfolio expanded, asset quality improved, and its efficiency ratio reached the lowest level in its historical series, according to results published on Wednesday 5 February 2025.
The return on equity for the year reached 22.2%. The bank's efficiency ratio of 39.5% was the lowest in its history.
CREDIT PORTFOLIO SURPASSES BRL 1.36 TRILLION
The bank's total credit portfolio grew 15.5% during 2024, reaching BRL 1.36 trillion by the year end. The expansion was accompanied by an improvement in asset quality: the non-performing loan ratio for loans overdue by more than 90 days fell to 2.4%, reflecting lower delinquency among both individuals and companies, notably in credit cards and vehicle financing.
BRL 15 BILLION PAYOUT AND BRL 3 BILLION BUYBACK ANNOUNCED
Alongside the full-year results, Itaú Unibanco announced an additional distribution of BRL 15 billion in dividends and interest on capital. The bank also allocated BRL 3 billion to share buybacks and cancellations during 2025, bringing the total announced capital return to shareholders to BRL 18 billion.
Itaú Unibanco's FY2024 results were disclosed in a press release and investor presentation, with senior management scheduled to provide further detail in the accompanying earnings call.
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