Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q1 2024 Earnings Presentation
19 slides from Itau Unibanco's earnings presentation, May 7, 2024
Slide 1: São Paulo, May 7th 2024
São Paulo, May 7th 2024 1 Corporativo | Interno
Slide 2: Quarter highlights consolidated
Quarter highlights consolidated 1Q24 vs. 4Q23 Change Recurring Recurring Consolidated 21.9% 0.7 p.p. Managerial R$9.8 billion 3.9% Managerial Result ROE Brazil 22.7% 0.5 p.p. Cost of +90 days Consolidated 2.7% 0.1 p.p. R$8.8 billion 3.9% Credit NPL Individuals 4.2% 0.2 p.p. Consolidated 38.3% 2.0 p.
Slide 3: Credit portfolio
Credit portfolio In R$ billion Mar-24 Dec-23 D Mar-23 D Individuals 413.4 415.9 -0.6% 402.8 2.6% Credit card loans 130.9 135.5 -3.4% 130.4 0.4% Personal loans 62.5 60.6 3.1% 56.1 11.3% Payroll loans 73.5 73.4 0.1% 74.9 -1.9% Auto loans 33.8 33.2 1.7% 32.1 5.4% Mortgage 112.8 113.2 -0.3% 109.4 3.1% V
Slide 4: Individuals' credit portfolio: exiting clients that destroy value
Individuals’ credit portfolio Exiting clients that destroy value 107 104 100 Additional negative effect of 0.5% on the individuals’ portfolio until the end of this year, which is included in the 2024 guidance. 17 0 Dec-22 dez/22 Mar-23 mar/23 Jun-23 jun/23 Sep-23 set/23 Dec-23 dez/23 Mar-24 mar/24 J
Slide 5: Financial margin with clients
Financial margin with clients Change In R$ billion R$2.2 bn (+9.4%) R$0.4 bn (-1.7%) 23.6 26.3 23.2 0.1 0.1 3.0 25.8 22.8 -3.1 -0.1 -0.2 -0.3 1Q23 4Q23 Working capital¹ Spread-sensitive Product mix 2 Average volume Spreads and Fewer number of Latin America and Spread-sensitive Working capital ¹ 1Q24
Slide 6: Financial margin with the market
Financial margin with the market In R$ billion Brazil Latin America Capital index hedge 1.1 1.1 0.6 0.7 0.8 1.3 1.1 1.0 1.0 1.1 0.1 0.2 0.1 0.1 0.2 -0.5 -0.4 -0.4 -0.3 -0.3 1Q23 1T23 2Q23 2T23 3Q23 3T23 4Q23 4T23 1Q24 1T24 6 Corporativo | Interno
Slide 7: Commissions, fees and result from insurance
Commissions, fees and result from insurance In R$ billion 1Q24 4Q23 D 1Q23 D Investment banking ³ Credit and debit cards 4.2 4.6 -9.1% 4.0 4.6% Ranking Card issuance 3.1 3.4 -8.0% 3.0 4.4% 1st place 4 Acquiring 1.1 1.2 -12.1% 1.0 5.4% DCM - origination Current account services 1.6 1.6 0.4% 1.7 -5.8%
Slide 8: Credit quality
Credit quality 15 - 90 days NPL % 90 days NPL % 3.9% consolidated consolidated 3.5% 3.4% 3.4% 3.5% 3.5% 3.2% 3.2% 3.2% 3.1% 3.0% 2.9% 3.0% 2.6% 2.6% 2.7% 2.7% 2.7% 2.8% 2.8% +0.01 p.p. 2.5% 2.5% 2.6% 2.5% 2.3% 2.3% 2.5% 2.5% 2.3% 2.4% 3.1% 3.0% 3.0% 2.8% 2.7% Brazil 2.0% 2.2% 2.2% 2.4% 2.7% 2.6% 2.7
Slide 9: Quality and cost of credit
Quality and cost of credit 3.3% 3.2% 3.3% 3.2% 3.1% Cost of credit¹ (in R$ billion) 3.0% Annualized cost of credit / Loan portfolio² - (%) 9.1 9.4 9.3 9.2 8.8 5.8 4Q19 4T19 1Q22 1T23 2Q22 2T23 3Q23 3T23 4Q23 4T23 1Q24 1T24 Renegotiated portfolio (in R$ billion) Coverage ratio – NPL 90 days (%) Reneg
Slide 10: Non-interest expenses
Non-interest expenses In R$ billion 1Q24 4Q23 D 1Q23 D Efficiency ratio Personnel (6.5) (6.6) -1.5% (5.9) 9.1% Administrative and other 1 (6.0) (6.6) -9.0% (5.8) 4.6% 46.3% 44.4% 44.6% Total - Brazil (12.5) (13.2) -5.3% (11.7) 6.8% 41.8% 39.8% 44.8% 43.2% 38.3% Latin America (ex-Argentina) (1.9) (2.
Slide 11: Capital
Capital 14.5% 13.7% - 0.91% + 0.56% - 0.04% - 0.34% 12.8% 1.5% 13.0% Dec-23 Additional Common equity Net income, Prudential and Risk-weighted Mar-24 Common dividends Tier I (CETI) – pro dividends and equity assets1 Tier I capital equity Tier I forma after interest on own adjustments (CET I) payment
Slide 12: 2024 Guidance for the year remains unchanged
2024 Guidance for the year remains unchanged Guidance Actual Actual 1Q24 x 1Q23 Guidance on a Guidance 1Q24 x 1Q23 Ex-Argentina comparable basis4 Total credit portfolio ¹ 2.8% 6.5% 9.5% Total credit portfolio ex-foreign exchange 5.6% 4.5% 7.5% 5.5% 8.5% Financial margin with clients 7.4% 9.4% Financ
Slide 13: June 19th, 9:00 to 11:30 (Brasília time)
June 19 th 9:00 to 11:30 (Brasília time) 13 Corporativo | Interno
Slide 14: São Paulo, May 7th 2024
São Paulo, May 7th 2024 14 Corporativo | Interno
Slide 15: Corporativo | Interno
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Slide 16: Results
Results In R$ billion 1Q24 4Q23 D 1Q23 D Operating revenues 40.4 41.0 -1.5% 37.4 7.8% Managerial financial margin 26.9 27.1 -0.9% 24.7 8.9% Financial margin with clients 25.8 26.3 -1.8% 24.0 7.4% Financial margin with the market 1.1 0.8 26.1% 0.6 64.3% Commissions and fees 10.9 11.2 -3.1% 10.3 4.9%
Slide 17: Business model
Business model 1Q24 1Q23 Change (1Q24 x 1Q23) In R$ billion Insurance Excess Insurance Excess Insurance Excess Total Credit Trading Total Credit Trading Total Credit Trading & services capital & services capital & services capital Operating revenues 40.4 22.5 0.7 16.7 0.4 37.5 21.8 0.5 14.9 0.2 2.9
Slide 18: Results: 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: São Paulo, May 7th 2024
São Paulo, May 7th 2024 19 Corporativo | Interno
Itau Unibanco Holding — Q1 2024 Earnings Presentation on 6ix