Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q4 2023 Earnings Presentation
19 slides from Itau Unibanco's earnings presentation, Feb 6, 2024
Slide 1: Corporativo | Interno
1 Corporativo | Interno
Slide 2: Quarter highlights consolidated
Quarter highlights consolidated 4Q23 vs. 3Q23 Change Recurring Recurring Consolidated 21.2% 0.1 p.p. managerial R$9.4 billion 4.0% managerial result ROE Brazil 22.2% 0.2 p.p. Commissions Financial and R$23.2 billion 3.3% R$13.5 billion 4.6% margin¹ insurance² Consolidated 2.8% 0.2 p.p. +90 days Tier
Slide 3: Credit portfolio
Credit 2023 Guidance vs. actual total credit portfolio portfolio 3.1% Consolidated between 5.7% and 8.7% In R$ billion Dec-23 Sep-23 D Dec-22 D Individuals credit portfolio - Personnalité and Uniclass segments Individuals 415.9 408.0 1.9% 399.3 4.1% Base 100 – Dec-22 116 Credit card loans 135.5 127.
Slide 4: Financial margin with clients
Financial margin 2023 Guidance vs. actual financial margin with clients with clients 12.5% Consolidated between 12.5% and 15.5% Change In R$ billion R$ 0.7 bn (+3.3%) 25.6 0.1 3.1 26.3 22.5 0.1 0.2 0.3 23.2 -3.0 -0.1 1 1 3Q23 Working capital and Argentina Spread-sensitive Product mix 2 Average volum
Slide 5: Financial margin with the market
Financial margin 2023 Guidance vs. actual financial margin with the market with the market R$3.3 bn Consolidated between R$1.6 bn and R$3.6 bn Brazil Latin America In the year Capital index hedge 3.3 In R$ billion 2.9 1.0 0.6 0.7 1.1 0.7 0.8 0.5 0.6 1.0 0.8 0.9 0.8 1.3 1.0 1.1 1.0 0.5 0.4 0.2 0.5 0.
Slide 6: Commissions, fees and result from insurance
Commissions, fees 2023 Guidance vs. actual commissions and insurance results and result from insurance 5.3% Consolidated between 4.7% and 6.7% In R$ billion 4Q23 3Q23 D 2023 2022 D Credit and debit cards 4.6 4.2 9.4% 16.9 15.1 11.6% Assets under management Card issuance 3.4 3.0 12.0% 12.3 11.3 8.6%
Slide 7: Credit quality
Credit quality 15 - 90 days NPL % 3.9% 90 days NPL % consolidated consolidated 3.5% 3.4% 3.4% 3.5% 3.5% 3.4% 3.2% 3.2% 3.2% +0.05 p.p. 3.0% 2.9% 3.0% Brazil 2.6% 2.6% 2.7% 2.7% 2.7% 2.8% 2.8% 2.5% 2.5% Total 2.6% 2.5% 2.3% 2.3% 2.5% 2.5% 2.3% 3.0% 3.1% 3.0% 3.0% 2.8% +0.04 p.p. 2.4% 2.0% 2.2% 2.2% 2
Slide 8: Quality and cost of credit
Quality and 2023 Guidance vs. actual cost of credit cost of credit R$ 36.9 bn Consolidated between R$36.5 bn and R$40.5 bn Cost of credit¹ In the year Annualized cost of credit/ Loan portfolio² - (%) 36.9 3.3% 3.5% 3.2% 3.3% 3.2% 3.1% 32.3 9.8 9.1 9.4 9.3 9.2 (in R$ billion) 5.8 4Q19 4T19 4Q22 4T22
Slide 9: Non-interest expenses
Non-interest guidance 2023 2023 vs. Guidance vs.realizado actual despesas nãoexpenses non-interest decorrentes de juros expenses 6.5% Consolidado 6,5% Consolidated between entre 4.0% 4,0% and e 8,0% 8.0% In R$ billion 4Q23 3Q23 D 2023 2022 D índice de eficiência Efficiency ratio Personnel (6.6) (6.6
Slide 10: Capital and Payout
Capital 15.2% 14.3% + 0.51% + 0.16% - 0.09% 1.5% 13.1% 1.5% 13.7% 11,3% 12.8% Sep-23 Net income, Prudential and risk-weighted Dec-23 Dec-23 Common dividends and equity assets1 Tier I capital Pro forma Tier I equity Tier I interest on own adjustments capital (CET I) capital after dividends payment in
Slide 11: Corporativo | Interno
11 Corporativo | Interno
Slide 12: Macroeconomic outlook
Macroeconomic outlook 2023 2024e GDP – Brazil1 2.9% 1.8% SELIC (end of year) 11.75% 9.00% Inflation (IPCA) 4.6% 3.6% Formal jobs2 7.9% 8.0% Dollar³ 4.86 4.90 (1) GDP 2023 data projected; (2) measured by PNAD Contínua (IBGE), end of year, seasonally adjusted; (3) end of year. 12 Corporativo | Interno
Slide 13: Guidance 2024
2024 Guidance Consolidated Growth on a comparable basis4 Growth between Total credit portfolio¹ 6.5% and 9.5% Growth between Growth between Financial margin with clients 4.5% and 7.5% 5.5% and 8.5% Between Financial margin with the market R$3.0 bn and R$5.0 bn Between Cost of credit² R$33.5 bn and R
Slide 14: Corporativo | Interno
14 Corporativo | Interno
Slide 15: Corporativo | Interno
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Slide 16: Results
Results In R$ billion 4Q23 3Q23 D 4Q22 D 2023 2022 D Operating revenues 41.0 39.5 3.7% 37.9 8.2% 156.8 142.7 9.9% Managerial financial margin 27.1 26.3 3.3% 25.0 8.6% 104.1 92.6 12.5% Financial margin with clients 26.3 25.6 2.9% 24.2 8.5% 100.8 89.6 12.5% Financial margin with the market 0.8 0.7 17.
Slide 17: Business model
Business model The allocation of principal capital (Common Equity Tier 1) in the bank’s business was made at 12% until the first quarter of 2022 and at 11.5% from the second quarter of 2022 on, according to our risk appetite. 2023 2022 Change (2023 x 2022) In R$ billion Insurance Excess Insurance Ex
Slide 18: 2023 income statement, excluding Banco Itaú Argentina
Results 2023 income statement, excluding Banco Itaú Argentina For a better understanding of the 2024 projections, we present below the quarterly and accumulated income statement for 2023 excluding the results of Banco Itaú Argentina. Due to the fact that in August 2023, we entered into an agreement
Slide 19: Corporativo | Interno
19 Corporativo | Interno
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