Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q4 2021 Earnings Presentation
55 slides from Itau Unibanco's earnings presentation, Feb 11, 2022
Slide 1: Announcement to the Market: 4th Quarter 2021 Result
ITAÚ UNIBANCO HOLDING S.A. CNPJ 60.872.504/0001 -23 A Publicly-Listed Company NIRE 35300010230 ANNOUNCEMENT TO THE MARKET Itaú Unibanco Holding S.A. 4th Quarter 2021 Result Itaú Unibanco Holding S.A. (“Company”) announces to its shareholders and the market at large that the Complete Financial Statem
Slide 2: Attachment 01 (Portuguese only)
Attachment 01 (portuguese only)
Slide 3: Teleconferência com a imprensa 4T21
Itaú Unibanco Holding S.A. teleconferência com a imprensa 4T21 Milton MaluhyFilho Alexsandro Broedel Renato Lulia Jacob Presidente ChiefFinancial Officer (CFO) Diretor de Relações com Investidores e Inteligência de Mercado São Paulo, 11 de fevereiro de 2022
Slide 4: Um banco em transformação cultural digital
Um banco em transformação cultural digital migração total nova estrutura menos hierarquia integração entreforma de trabalho tempo médio aumento da investimento para o modelo para implantação capacidade em tecnologia de comunidades e mais agilidadenas tomadas de tecnologia, negócios, design e com red
Slide 5: Destaques do trimestre
destaques do trimestre variação 4T21 vs. 3T21 resultado carteira de recorrente gerencial crédito cartão de crédito pessoal crédito consolidado Brasil crédito imobiliário PF R$ 7,2 bi R$ 6,6 bi R$ 1.027 bi 15,5% 8,3% 9,6% 5,6% 2,9% 6,7% margem com cartões serviços e índice de ROE clientes emitidos se
Slide 6: Cenário macroeconômico
cenário macroeconômico 2021 2022e PIB – Brasil1 4,4% -0,5% SELIC (final do ano) 9,25% 12,50% Inflação (IPCA) 10,1% 5,5% Desemprego2 11,7% 13,1% Dólar³ 5,57 5,50 (1) PIB 2021 projetado; (2) PNAD Contínua, fim do ano; (3) final do período. 4 Corporativo | Interno
Slide 7: Guidance 2022
guidance2022 Consolidado Brasil¹ carteira de crédito total² entre 9,0% e 12,0% entre 11,5% e 14,5% margemfinanceira com clientes entre 20,5% e 23,5% entre 22,0% e 25,0% impacto de cerca de R$ 2 bilhões margem financeira com o mercado entre R$ 1,0 bi e R$ 3,0 bi entre R$ 0,3 bi e R$ 2,3 bi em função
Slide 8: Teleconferência com a imprensa 4T21
Itaú Unibanco Holding S.A. teleconferência com a imprensa 4T21 Milton MaluhyFilho Alexsandro Broedel Renato Lulia Jacob Presidente ChiefFinancial Officer (CFO) Diretor de Relações com Investidores e Inteligência de Mercado São Paulo, 11 de fevereiro de 2022
Slide 9: Attachment 02
Attachment 02
Slide 10: Earnings Review 4Q21
Itaú Unibanco Holding S.A. earnings review 4Q21 São Paulo, February 11th, 2022
Slide 11: Quarter highlights 4Q21 vs. 3Q21
quarter highlights 4Q21 vs. 3Q21 change recurring credit managerial result portfolio credit mortgage for personalloans consolidated Brazil cards individuals R$7.2 bn R$6.6 bn R$1,027 bn 15.5% 8.3% 9.6% 5.6% 2.9% 6.7% margin # of cards commissions efficiency recurring with clients issued and insuranc
Slide 12: 2021 guidance vs. actual: credit portfolio
2021 guidance vs. actual credit portfolio total credit portfolio consolidated Brazil between 8.5% and 11.5% between 12.5% and 15.5% 18.1% 23.2% in R$ billions Dec-21 Sep-21 D Dec-20 D individuals 332.6 303.7 9.5% 255.6 30.1% credit card loans 112.1 97.0 15.5% 86.3 30.0% personal loans 42.0 38.3 9.6%
Slide 13: 2021 guidance vs. actual: financial margin with clients
2021 guidance vs. actual financial margin with clients financial margin with clients consolidated Brazil between 2.5% and 6.5% between 3.0% and 7.0% 8.3% 7.5% consolidated annualized average margin Brazil annualized average margin 8.6% 8.5% 8.6% 8.5% 8.8% 7.3% 7.3% 7.4% 7.4% 7.7% 5.4% 5.3% 5.2% 5.3%
Slide 14: 2021 guidance vs. actual: financial margin with the market
2021 guidance vs. actual financial margin with the market financial margin with the market consolidated Brazil between 6.5 bn and 8.0 bn between 3.9 bn and 5.4 bn R$7.7 bn R$4.9 bn 1-year moving average Brazil¹ Latin America² 2.0 in the year in R$ billions 1.7 1.8 1.9 7.7 1.4 1.3 1.2 1.2 1.3 2.5 5.0
Slide 15: 2021 guidance vs. actual: commissions and insurance
2021 guidance vs. actual commissions and insurance commissions and results from insurance consolidated Brazil between 2.5% and 6.5% between 2.5% and 6.5% 5.8% 5.3% in R$ billions 4Q21 3Q21 D 2021 2020 D credit and debit cards 3.6 3.3 11.3% 12.8 11.5 11.8% cards issued card issuance 2.8 2.6 9.7% 10.1
Slide 16: 2021 guidance vs. actual: credit quality and cost of credit
2021 guidance vs. actual credit quality costof credit consolidated Brasil between 19.0 bn and 22.0 bn between 17.0 bn and 20.0 bn R$20.2 bn R$18.2 bn cost of credit¹ in R$ billions coverage ratio – NPL 90 days (%) annualized cost of credit / loan portfolio² -(%) 930% 952% 922% 3.3% 835% 2.8% 519% 2.
Slide 17: 2021 guidance vs. actual: non-interest expenses
2021 guidance vs. actual non-interest expenses non-interestexpenses consolidated Brazil between -2.0% and 2.0% between -2.0% and 2.0% 2.0% 0.5% in R$ billions salary efficiency ratio 4Q21 3Q21 D 2021 2020 2019 D 21 x 19 readjustment personnel (5.4) (5.3) 2.1% (20.6) (19.3) (20.0) 3.1% 12.63% 47.6% 4
Slide 18: Capital
capital 12.9% + 0.7% -0.5% -0.1% 13.0% 1.6% 1.7% 11.3% 11.3% Sep-21 net income in the credit risk – securities AFS -MtM Dec-21 Tier I capital quarter and prudential weighted assets- Tier I capital adjustments portfolio common equity Tier I (CET I) Additional Tier I (AT1) 9
Slide 19: 2022 perspectives
2022 perspectives
Slide 20: Macroeconomic outlook
macroeconomic outlook 2021 2022e GDP – Brazil1 4.4% -0.5% SELIC (end of year) 9.25% 12.50% Inflation (IPCA) 10.1% 5.5% Formal jobs2 11.7% 13.1% Dollar³ 5.57 5.50 (1) GDP 2021 data projected; (2) measured by PNAD Contínua (IBGE), end of year; (3) end of year. 11 Corporativo | Interno
Slide 21: Guidance 2022
guidance 2022 Consolidated Brazil¹ total credit portfolio² between 9.0% and 12.0% between 11.5% and 14.5% financialmargin with clients between 20.5% and 23.5% between 22.0% and 25.0% the hedge of the capital ratio financial margin with the market between R$1.0 bn and R$3.0 bn between R$0.3 bn and R$
Slide 22: Credit portfolio, margin with clients and cost of credit panel
credit portfolio, margin with clientspanel1 and cost of credit André Rodrigues, retail banking, digital channels and insurance Flávio Souza, Itaú BBA Matias Granata, risk and capital management 2022 guidance total credit financial margin costof Consolidated portfolio withclients credit between 9.0%
Slide 23: Commissions and fees, insurance and margin with the market panel
panel2 commissions and fees, result from insurance and margin with the market André Sapoznik, payments, operationsand marketing Carlos Constantini, wealthmanagement and services 2022 guidance commissions, fees and financial margin Consolidated result from insurance with the market between 3.5% betwe
Slide 24: Technology and efficiency panel
technologyand efficiency panel3 Ricardo Guerra, technology Alexsandro Broedel, CFO 2022 guidance non-interest Consolidated expenses between 3.0% and 7.0% 15 Corporativo | Interno
Slide 25: Earnings Review 4Q21
Itaú Unibanco Holding S.A. earnings review 4Q21 São Paulo, February 11th, 2022
Slide 26: Additional information
additional information
Slide 27: Results in R$ billions
results in R$ billions 4Q21 3Q21 D 4Q20 D 2021 2020 D operating revenues 33.4 31.5 6.1% 29.2 14.6% 125.6 114.8 9.4% managerial financial margin 21.2 19.5 8.7% 17.6 20.6% 78.1 70.1 11.5% financial margin with clients 19.9 17.6 13.2% 16.0 24.3% 70.5 65.1 8.3% financial margin with the market 1.3 1.9 -
Slide 28: Business model: allocation of capital
business model the allocation of principal capital (Common Equity Tier 1) in the bank’s business is made at 12%, according to our risk appetite. 2021 2020 change (2021 vs 2020) Trading Insurance Excess Trading Insurance Excess Trading Insurance Excess in R$ billions Total Credit Total Credit Total C
Slide 29: 2021 guidance
2021 guidance Consolidated Brazil¹ Actual Forecast Actual Forecast total credit portfolio² 18.1% between 8.5% and 11.5% 23.2% between 12.5% and 15.5% financialmargin with clients 8.3% between 2.5% and 6.5% 7.5% between 3.0% and 7.0% financial margin with the market R$7.7 bn betweenR$6.5 bn andR$8.0
Slide 30: Earnings Review 4Q21
Itaú Unibanco Holding S.A. earnings review 4Q21 São Paulo, February 11th, 2022
Slide 31: Attachment 03
Attachment 03
Slide 32: 4Q21 Institutional Presentation
4Q21 institutional presentation
Slide 33: Market value, total assets, recurring ROE
marketvalue¹ total assets² recurringROE³ US$46.2 bn R$2,166 bn 20.2% _with 97 years of history, most valuable4 Brazilian Brand R$40.5 bn we are a 99.6k employees full-servicebank in Brazil and overseas the best bank to work for in Brazil and winner of LinkedIn’s Diversity award (1) In 02/02/2022; (2
Slide 34: Presence in countries
we are present in 18 countries of which nineare in Latin America 2021 Recurring Loan 3 4Q21 4 4Q21 main Managerial Portfolio ROE Efficiency Brazil Colombia Paraguay Result Dec/21 2 Ratio highlights (%) Argentina Mexico Peru (BRL million) (BRL billion) (%) Chile Panama Uruguay Brazil 25,079 803.7 20.
Slide 35: Most complete portfolio of products and services
with the most complete portfolio of products and services ...and brands and partnerships to Private Bank Ultra serve different profiles >BRL5 million in total > BRL4 billion investment some of our brands and partnerships Personnalité checking accounts Large >BRL15k or > BRL500 >BRL250 k million up t
Slide 36: Clients choose how they want to be served
our clients choose how they want to be served physical remote 223 digital branches more than4.1 k branches WhatsApp click to human more than45 k email ATMs Bankline telephone Mobile banking in Brazil and in the rest 100 % functionalityin theapp chat of our Latin American¹ operations the online accou
Slide 37: Our ability to adapt, innovate and change
ourability to adapt, innovate and change Click here for has enabled us to get where we are now more info one of the four top data purchaseof ZUP processing firstbank mergerof speeds up digital Casa Moreira Banco Itaú and centersin Brazil transformation Salles 1983 with no Unibanco is set up (Unibanc
Slide 38: Solid governance
solid governance Click here for governance pillars more info ensures business sustainability Meritocracy-based Focus on performance and Decisions made jointly management long-term value creation family control, professional IUPAR Family control ensures a long-term vision management and listed capita
Slide 39: Risk culture and strict models
supported by our risk culture, we operate based on strict models A three line-of-defense model: business areas have the primary responsibility for risk management, followed then by the risk department and at last by the audit area, reporting directly to the Board of Directors Discussion of metrics r
Slide 40: Strategic pillars
1. Client Centricity 2. Digital Transformation We want to be the benchmark in satisfaction, Technology is the great enabler of transforming our culture so that the client is at this transformation, leveraging our the center of everything. commercial potential. Our actions and efforts are designed fo
Slide 41: Client centricity
_proactivecontact to understand satisfied clients create the client is atthe the client experience more value > than520 thousandfeedbacks¹ center of GlobalNPS everything we do _executivesexperience our + 25 points clients’ day-to-day banking Our commitment: toserve activities in all service channels
Slide 42: Technology enabling our clients
technologyenabling our clients to have the best service applying technologies to focus on solving artificial solve problems with clients’ issues intelligence big data & agile speeds and using data to cloud and machine communities quickly analytics management develop products for a learning better ex
Slide 43: Continuous investing in efficiency
continuous investingin we create value in a consistent way clientcentricity technology non-interest expenses growing at a slower pace than inflation and digital 2021 vs 2018 + 2x -32% transformation solution infrastructure development costs with efficiency investments gains strengthening culture ong
Slide 44: Leadership and growth opportunities: mortgage, cards, agribusiness
leadership in several businessand growth opportunities Mortgage Cards Agribusiness Ourcredit portfolio grew over 35%, per year, in the Ranked #1 among private banks Marketleader last two years 21.1% marketshare in Nov/21¹ 29.3% market share in revenue in Sep/21 Strong growth agenda in the coming yea
Slide 45: Leadership and growth opportunities: asset management, insurance
leadership in several businessand growth opportunities Asset Management Insurance Largest private asset manager in Potential growth in the sector 23.9% market share in acquiring Latin America in Sep/21 Complete portfolio with proprietary and third-11.4% market sharein Dec/21 2 party products #2 play
Slide 46: Growth alongside innovation
growth alongside innovation new products, channels and client strength of client solutions services launched base relationship offer new products and Itaú services Meu Negócio investment solutions rewards relationship platform program platform platform that goes beyond the a rewards program a free o
Slide 47: ESG initiatives integrated into business
ESG initiatives integrated into business ensure the bank’s Click here for more info sustainability strategy based on tenpositive impact commitments financial inclusion and financing positive responsible transparency in citizenship entrepreneurship impact sectors + investment communication To take ca
Slide 48: ESG initiatives integrated into business
ESG initiatives integrated into business ensure the bank’s Click here for more info sustainability discoversome of our initiatives business corporatebehavior accountability BRL400 billion for sustainable Itaú Unibanco is the best bank to We are among the most development up to 2025 work for in Brazi
Slide 49: Solid results and sustainable value creation
solid results and 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 sustainable value BRL billion creation recurring managerial result value creation cost of capital 18
Slide 50: Higher revenue with cost discipline
higher revenue with a cost discipline financial margin with clients financial margin with the market cost of credit 24.3 % 17.1 % 2.8 % 4Q21 4Q21 4Q21 4Q21 vs. 4Q20 4Q21 vs. 4Q20 4Q21 vs. 4Q20 BRL19.9 bn 13.2 % BRL1.3 bn 32.6 % BRL6.2 bn 18.5 % 4Q21 vs. 3Q21 4Q21 vs. 3Q21 4Q21 vs. 3Q21 2021 8.3 % 20
Slide 51: Without overlooking risk management
without overlooking risk management credit portfolio¹ 90 days NPL 15-90 days NPL coverage ratio Dec-21 Dec-21 Dec-21 Dec-21 BRL1,027 bn 2.5% 1.8% 241% 6.7 % 18.1 % 0.1 p.p. 0.2 p.p. 0.1 p.p. 0.0 p.p. 7.0 p.p. 79.0 p.p. Dec-21 vs. Sep-21 Dec-21 vs. Dec-20 Dec-21 vs. Sep-21 Dec-21 vs. Dec-20 Dec-21 vs
Slide 52: Capital structure suitable for growth strategy
capital structure suitable for Our Tier I capital target: 13.5% carrying out our growth strategy Tier 1 (T1) = CET1 + AT1 T1= 9.0% T1= 13.5% T1= 13.0% Itaú Unibanco Minimum required capital Common Additional Tier II Equity Tier 1 Tier I (AT1) (CET1) 21 ¹ Composed by, at least, 12% CET1.
Slide 53: Diversified shareholders base with high liquidity
diversified shareholders base with high liquidity Free float* | Non-voting shares 28% 27% 25% 4.8 billion Daily average volume of shares traded (BRL million) – ITUB4 of shares 38% 38% 39% 488 k 1,048 direct shareholders Brazilians B3 893 732 in December2021 36% 36% Foreigners B3 34% NYSE 4Q19 4Q20 4
Slide 54: 2022 guidance
2022 guidance Consolidated Brazil¹ total creditportfolio² between 9.0% and 12.0% between 11.5% and 14.5% financial marginwithclients between 20.5% and 23.5% between 22.0% and 25.0% the hedge of the capital ratio with financial margin with the market between R$1.0 bn and R$3.0 bn between R$0.3 bn and
Slide 55: Investor Relations
Investor Relations (11) 2794-3547 | ri@itau-unibanco.com.br | www.itau.com.br/ri
Itau Unibanco Holding — Q4 2021 Earnings Presentation on 6ix