Brazil's Itau focuses on growing payment app, less on card processing [Reuters]
Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) (ITUB)
Last itau unibanco banco holding sa american depositary shares (each repstg 500 preferred shares) earnings: 2/11 04:01 pm
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Source: Reuters
Brazil's Itau focuses on growing payment app, less on card processing - Reuters 2 Min Read SAO PAULO, Aug 13 (Reuters) - Brazilian lender Itau Unibanco Holding SA is shifting its payment services strategy to focus on its most profitable segments, a senior executive told Reuters, as competition in the card processing business has weighed on fees. “We don’t want to focus on card processing for our larger clients. That service should be priority for the mid-sized and small clients,” Marcos Magalhaes, CEO of Itau’s card processing unit Rede, said in a late Monday interview. Supplying card processing machines and services to Brazil’s largest retailers has become a money-losing business since the final quarter of last year, Magalhaes said. Still, the segment is still profitable with smaller clients, for which Rede zeroed fees in receivables-backed credit three months ago. Magalhaes said Rede lost large retailers as clients, but has been gaining market share among companies with annual reven
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News
- Gamblers Pay 400% Loan Rates to Fund Betting Frenzy in Brazil [Yahoo! Finance]Yahoo! Finance
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- Itaú Unibanco Holding S.A. (NYSE: ITUB) had its price target lowered by analysts at JPMorgan Chase & Co. from $8.00 to $7.00. They now have an "overweight" rating on the stock.MarketBeat
- Itau Unibanco Holding SA (ITUB) Q3 2024 Earnings Call Highlights: Robust Growth and Strategic ... [Yahoo! Finance]Yahoo! Finance
- Itau Unibanco Q3 Earnings & Revenues Increase Y/Y, Expenses Rise [Yahoo! Finance]Yahoo! Finance
ITUB
Earnings
- 5/7/24 - Beat
ITUB
Analyst Actions
- 11/7/24 - JP Morgan
ITUB
Sec Filings
- 11/14/24 - Form 13F-HR
- 11/12/24 - Form 6-K
- 11/7/24 - Form 6-K
- ITUB's page on the SEC website