Business UpdateMay 13, 2026, 01:47 PM
Itau Unibanco Divests XP Inc.; 2024 Retail Revenue R$101.06B
AI Summary
Itau Unibanco Holding S.A. provided a comprehensive business update for the year ended December 31, 2024, detailing its activities, strategic moves, and financial performance across various segments. Key strategic actions included the full divestment of its stake in XP Inc. and the acquisitions of 100% of Resonet S.A. and 80% of Avita Corretora de Seguros S.A. The company reported growth in its Retail and Wholesale Business segments, with significant increases in net operating revenue and transaction volumes, while maintaining market leadership in several product categories.
Key Highlights
- Itau Unibanco sold all remaining shares in XP Inc. during 2024.
- Acquired 44% of Resonet S.A. (Uruguay) in 2024, achieving 100% stake.
- Acquired 80% of Avita Corretora de Seguros S.A. share capital in 2024.
- Retail Business net operating revenue reached R$101.06 billion in 2024, up from R$96.60 billion in 2023.
- Wholesale Business net operating revenue was R$58.01 billion in 2024, up from R$54.63 billion in 2023.
- Merchant acquirer transaction volume increased 6.9% to R$917.9 billion in 2024.
- Asset Management had R$1,033 billion in assets under management as of December 31, 2024.
- Mortgage loans outstanding totaled R$125.26 billion as of December 31, 2024.