Itau Unibanco Holding S.a. · BMFBOVESPA:ITUB3
Itau Unibanco — Q1 2022 Earnings Presentation
54 slides from Itau Unibanco's earnings presentation, May 9, 2022
Slide 1: Announcement to the Market – 1st Quarter 2022 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. 1(st)Quarter 2022 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 1T22
Itaú Unibanco Holding S.A. teleconferência com a imprensa 1T22 São Paulo, 9 de maio de 2022
Slide 4: Destaques do trimestre
destaques do trimestre variação 1T22 vs. 4T21 resultado Consolidado R$ 7,4 bilhões 2,8% ROE recorrente Consolidado 20,4 % 0,2 p.p. recorrente gerencial Brasil R$ 6,7 bilhões 0,4% Brasil 21,0 % 0,1 p.p. gerencial carteira Consolidado R$ 1.032,2 bilhões 0,5% índice de Consolidado 41,8 % 1,3 p.p. de cr
Slide 5: Agenda associativa
comerciais Parcerias venture Corporate capital canais de Agenda distribuição associativa Vetor para acelerar nossa transformação cultural e digital talentos e produtos tecnologia M&A Ventures e Joint Corporativo | Interno
Slide 6: Carteira de crédito
carteira de crédito pessoas físicas—carteira Brasil em R$ bilhões de crédito 240 347 47,7% 53,3% PF com garantia² 52,3% 46,7% em R$ bilhőes PF sem garantia dez/19 mar/22 carteira flexibilizada pessoas físicas, micro e pequenas empresas em R$ bilhões 12,7% 53,5 mar/22 vs. dez/21 31,1 27,1 62% com gar
Slide 7: Qualidade do crédito
qualidade do crédito 3,9% NPL 15—90 dias—% NPL 90 dias—% 3,5% 3,7% 3,5% 3,4% 3,0% 2,9% 2,6% 2,7% 2,7% 2,7% 2,8% 2,8% 2,3% Brasil 2,5% 2,3% 2,6% 2,5% 2,2% 3,1% 2,3% 2,3% 2,9% 3,0% 3,0% total 1,9% 2,0% 2,1% 2,6% 2,6% 2,4% 2,0% 1,7% 1,8% 2,3% 2,5% 2,3% 2,4% 2,4% 1,8% 2,0% 2,3% 2,3% América Latina 1,7%1
Slide 8: Despesas não decorrentes de juros
despesas não decorrentes de juros em R$ bilhőes 1T22 1T21 ‘ 4T21 ‘ reajuste índice de eficiência salarial despesas de pessoal (5,3) (4,9) 8,1% (5,4) -1,4% 10,97% 46,3% 44,6% 44,4% despesas administrativas e outras(1) (5,5) (5,5) -0,1% (5,7) -3,8% IPCA 41,8% 11,3% 44,8% total—Brasil (10,8) (10,4) 3,8
Slide 9: Teleconferência com a imprensa 1T22
Itaú Unibanco Holding S.A. teleconferência com a imprensa 1T22 São Paulo, 9 de maio de 2022
Slide 10: Attachment
Attachment 02
Slide 11: Earnings Review 1Q22
Itaú Unibanco Holding S.A. earnings review 1Q22 São Paulo, May 9th ,2022
Slide 12: Quarter highlights
quarter highlights 1Q22 vs. 4Q21 change recurring Consolidated R$ 7.4 billions 2.8% recurring Consolidated 20.4 % 0.2 p.p. managerial managerial ROE Brazil R$ 6.7 billions 0.4% Brazil 21.0 % 0.1 p.p. result credit Consolidated R$ 1,032.2 billions 0.5% efficiency Consolidated 41.8 % 1.3 p.p. portfoli
Slide 13: Associative agenda: pathway to accelerate transformation
partnerships commercial venture Corporate capital distribution Corporate channels development Pathway to accelerate our cultural and digital transformation technology products & people M&A Ventures and Joint Corporativo | Interno
Slide 14: Client centricity and customer engagement
client centricity customer engagement Using Data and Technology to Improve Supply 1 Audience Optimizing our 3 Investment in Segmentation and 2 Technology and engagement Engagement Definition Data Science • Clustering with internal and market • Use of Machine Learning to identify the right • Single,
Slide 15: Individual's credit portfolio
individual’s credit portfolio—credit Brazil in R$ billion portfolio 240 347 47.7% 53.3% individuals—collateralized² in R$ billions 52.3% 46.7% individuals—not collateralized Dec-19 Mar-22 reprofiled portfolio individuals, very small and small companies in R$ billion 12.7% 53.5 Mar-22 vs. Dec-21 31.1
Slide 16: Financial margin with clients
financial margin with clients change in the financial margin with clients in R$ billions R$3.9 bn (+23.9%) R$133 mi (+0.7%) 19.9 18.3 0.7 0.3 (0.3) (0.3) (0.3) 18.3 1.7 20.0 16.2 (1.6) 1Q21 4Q21 capital working and sensitive spread- average volume product mix ² calendar fewer days spreads liabilitie
Slide 17: Financial margin with the market
com financial o mercado margin with the market 1-year moving average Brazil¹ Latin America² capital index hedge 2.0 1.8 1.9 in R$ billions 1.7 1.6 1.4 1.3 1.3 1.2 1.2 2.5 1.3 1.4 2.0 1.9 1.3 1.6 1.3 1.0 0.7 0.8 0.7 1.5 1.1 0.4 1.1 1.0 1.5 1.3 0.6 0.3 0.7 1.0 0.6 0.4 0.6 0.5 0.5 0.6 0.5—0.4 4Q19 1Q20
Slide 18: Commissions and insurance
commissions insurance4 (evolution vs 1Q21) and insurance earned premiums (in R$ billion) 19.0% 3.8 p.p. in combined ratio in R$ billions 1,271 4.0 p.p. in claims ratio 1,068 1Q21 1Q22 transaction volumes with cards (in R$ billion) 29.8% 22.7% 1Q22 vs. 1Q21 1Q22 vs. 1Q21 issuer acquiring 176 162 136
Slide 19: Credit quality
credit quality 3.9% 15—90 days NPL % 90 days NPL % 3.5% 3.7% 3.5% 3.4% 3.0% 2.8% 2.9% 2.6% 2.7% 2.7% 2.7% 2.8% 2.3% Brazil 2.5% 2.3% 2.6% 2.5% 2.2% 3.0% 3.0% 3.1% 2.3% 2.3% 2.9% total 1.9% 2.0% 2.1% 2.6% 2.5% 2.6% 2.4% 2.0% 1.7% 1.8% 2.3% 2.3% 2.3% 2.3% 2.4% 2.4% 1.8% 1.9% 2.0% 2.0% Latin America 1.
Slide 20: Cost of credit
cost of credit cost of credit¹ (in R$ billions) coverage ratio – NPL 90 days (%) average annualized cost of credit/ loan portfolio²—(%) coverage ratio retail Brazil 922% Dec-15 a Dec-19 167% 3.3% 835% 2.8% 2.7% 2.2% 2.5% 1.9% 2.1% 443% 430% 588% 599% 7.0 298% 355% 248% 240% 283% 5.8 v 6.0 6.2 241% 2
Slide 21: Non-interest expenses
non-interest expenses in R$ billions 1Q22 1Q21 ‘ 4Q21 ‘ salary efficiency ratio readjusment personnel (5.3) (4.9) 8.1% (5.4) -1.4% 10.97% 46.3% 44.6% 44.4% administrative and other (1) (5.5) (5.5) -0.1% (5.7) -3.8% IPCA 41.8% 11.3% 44.8% total—Brazil (10.8) (10.4) 3.8% (11.1) -2.7% 43.2% 42.9% conso
Slide 22: Capital
capital + 0.5%—0.5% 12.5% 11.3%—0.2% 11.1% 1.4% 1,7% 11.1% Dec-21 net income in the risk-weighted acquisition of Itaú Mar-22 common equity quarter and interest assets1 Corpbanca Colombia common equity Tier I capital Tier I (CET I) on own capital and voluntary Tier I (CET I) severance program Common
Slide 23: We kept unchanged our 2022 guidance
We kept unchanged our 2022 guidance 2022 guidance Consolidated Brazil¹ total credit portfolio² between 9.0% and 12.0% between 11.5% and 14.5% financial margin 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$1.0 bn
Slide 24: Earnings Review 1Q22
Itaú Unibanco Holding S.A. earnings review 1Q22 São Paulo, May 9th ,2022
Slide 25: Additional information
additional information
Slide 26: Managerial results in R$ billions
1Q22 4Q21 L\ 1Q21 L\ operating revenues 33.0 33.4 ·1.2% . results managerial financial margin 21.0 21.2 -0.7% in R$ billions financial margin with clients 20.0 19.9 0.7% financial margin with the market 1.0 1.3 -22.5% commissions and fees 9.8 10.2 -4.6% . revenues from insurance 2.2 2.0 11.6% . cost
Slide 27: Business model
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. in R$ billions (1) Revenues from Insurance includes the Revenues from Insurance, Pension Plan and Premium Bonds Operations before Retained Claims and Selli
Slide 28: Earnings Review 1Q22
Itaú Unibanco Holding S.A. earnings review 1Q22 São Paulo, May 9th ,2022
Slide 29: Attachment
Attachment 03
Slide 30: 1Q22 Institutional Presentation
1Q22 institutional presentation
Slide 31: Market value, total assets, recurring ROE
market value¹ total assets² recurring ROE³ US$45.0 bn R$2,183 bn 20.4% _ _with 98 years of history, most valuable4 Brazilian Brand R$40.5 bn we are a 100.6k employees full-service bank in Brazil and overseas the best bank to work for in Brazil and winner of LinkedIn’s Diversity award (1) In 05/05/20
Slide 32: We are present in 5 countries
we are 18 present countries in of which nine are in Latin America 1Q22 Recurring Loan 4 1Q22 5 Managerial Portfolio 1Q22 main ROE Efficiency Brazil Colombia Paraguay Result² Mar/223 Ratio highlights (BRL million) (BRL billion) (%) Argentina Mexico Peru (%) Chile Panama Uruguay Brazil 6,659 830.8 21.
Slide 33: 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 >BRL15 k or > BRL500 >BRL250 k million
Slide 34: Retail footprint optimized for clients' behavior
our retail footprint is constantly our clients choose how they optimized for our clients’ behavior want to be served and needs 17% of physical branches physical remote in Brazil (1Q22 vs. 4Q18) 315 digital branches share 3.9 k digital interactions(4) branches WhatsApp 82% 90% click to human 68% more
Slide 35: Our ability to adapt, innovate and change
our ability 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 purchase of ZUP processing merger of speeds up digital Casa Moreira first bank Banco Itaú and latest centers in Brazil transformation Salles (Unibanco) 1983 with no U
Slide 36: Associative agenda
partnerships commercial venture Corporate capital distribution Corporate channels development Pathway to accelerate our cultural and digital transformation technology & products people M&A Ventures and Joint Corporativo | Interno
Slide 37: Solid governance ensures business sustainability
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 38: 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 39: Strategic pillars: client centricity, digital, efficiency, growth
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 40: Client is at the center of everything we do
_proactive contact to understand satisfied clients create the client is at the the client experience more value > than 460 thousand feedbacks¹ center of Global NPS everything we do _executives experience our clients’ day-to-day banking + 25 points activities in all service channels Our commitment: t
Slide 41: Technology enabling the best client service
technology enabling our clients to have the best service applying technologies to focus on solving artificial solve problems quickly and clients’ issues intelligence big data & agile using data to develop cloud and machine communities quickly analytics management products for a better learning custo
Slide 42: Continuous investing in technology and efficiency
continuous investing in we create value in a consistent way client centricity technology non-interest expenses growing at a slower pace than inflation and digital 2022 vs 2018 + 2x—42% transformation solution infrastructure development costs with efficiency investments gains strengthening culture on
Slide 43: Leadership in several businesses and growth opportunities
leadership in several business and growth opportunities Mortgage Cards Agribusiness Our credit portfolio grew over 35%, per year, in the Ranked #1 among private banks Market leader last two years 24.7% market share in Feb/22¹ 28.9% market share in revenue in Dec/21 Strong growth agenda in the coming
Slide 44: Leadership in asset management, insurance and acquiring
leadership in several business and growth opportunities Asset Management Insurance Largest private asset manager in Potential growth in the sector 22.6% market share in acquiring Latin America in Dec/21 Complete portfolio with proprietary and third- 11.3% market share in Mar/22 2 party products #2 p
Slide 45: 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 46: ESG initiatives integrated into business
ESG initiatives integrated into business ensure the bank’s Click here for more info sustainability strategy based on ten positive impact commitments financial inclusion and financing positive responsible transparency in citizenship entrepreneurship impact sectors + investment communication To take c
Slide 47: ESG initiatives and accountability
ESG initiatives integrated into business ensure the bank’s Click here for more info sustainability discover some of our initiatives business corporate behavior accountability R$ 400 billion for sustainable Reduce our emissions in scopes 1, 2 and We ranked 8th in B3’s ISE portfolio development up to
Slide 48: Solid results and sustainable value creation
solid results and sustainable value 2020 2021 1Q21 1Q22 2012 2013 2014 2015 2016 2017 2018 2019 creation ROE average cost of capital Increase of BRL billion value creation up +23% recurring managerial result value creation cost of capital 19
Slide 49: Higher revenue with cost discipline
higher revenue with a cost discipline financial margin with clients financial margin with the market cost of credit 0.7 % 22.5 % 12.4 % 1Q22 1Q22 1Q22 1Q22 vs. 4Q21 1Q22 vs. 4Q21 1Q22 vs. 4Q21 BRL20.0 bn 23.9 % BRL1.0 bn 59.1 % BRL7.0 bn 69.5 % 1Q22 vs. 1Q21 1Q22 vs. 1Q21 1Q22 vs. 1Q21 15.3 16.4 17.
Slide 50: Without overlooking risk management
without overlooking risk management credit portfolio¹ 90 days NPL 15-90 days NPL coverage ratio Mar-22 Mar-22 Mar-22 Mar-22 BRL1,032 bn 2.6% 2.1% 232% 0.5 % 13.9 % 0.1 p.p. 0.3 p.p. 0.3 p.p. 0.1 p.p. 9.0 p.p. 66.0 p.p. Mar-22 vs. Dec-21 Mar-22 vs. Mar-21 Mar-22 vs. Dec-21 Mar-22 vs. Mar-21 Mar-22 vs
Slide 51: Capital structure suitable for growth strategy
capital structure suitable for Our T Tier I capital target: 13.5% carrying out our growth strategy Tier 1 (T ) = CET1 + AT1 Min mum 1 Itaú Unibanco in Mar/22 regulatory capital 9.0% T1= 13.5% T1= 12.5% Common Additional Tier II Itaú Unibanco Minimum required capital Equity Tier 1 Tier I (AT1) (CET1)
Slide 52: Diversified shareholders base with high liquidity
diversified shareholders base with high liquidity Free float* | Non-voting shares 26% 26% 23% 4.8 billion Daily average volume of shares traded (BRL million) – ITUB4 of shares 37% 38% 45% 465 k Brazilians B3 1,142 1,176 1,004 direct shareholders Foreigners B3 in March 2022 37% 36% 32% NYSE 1Q20 1Q21
Slide 53: 2022 guidance
2022 guidance Consolidated Brazil¹ total credit portfolio² between 9.0% and 12.0% between 11.5% and 14.5% financial margin with clients 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
Slide 54: Investor Relations
Investor Relations (11) 2794-3547 | ri@itau-unibanco.com.br | www.itau.com.br/ri
Itau Unibanco Holding — Q1 2022 Earnings Presentation on 6ix