Profit falls 12.5% ​​in 2Q22, to R$3 billion – Money Times

Itaúsa
Average return on equity (ROE) rose 7.4 percentage points in the quarter (Image: Disclosure)

THE Itaúsa (ITSA4), holding company that controls Itaú Unibanco (ITUB4), announced this Monday (15) that it had a net profit of R$ 3 billion, down 12.5% ​​compared to the same period last year.

The company informs that the net income was affected by non-recurring events, which totaled a negative effect of R$ 58 million.

On the other hand, recurring net income rose 5.5% to R$3 billion.

The advance mainly reflected the increase in Itaú Unibanco’s profit, in which Itaúsa has a 37% share.

Itaúsa warned that around 300 million reais of the proceeds from the sale of 1.26% of XP’s capital, for 665 million, will be posted on the balance sheet for the third quarter.

The average return on equity (ROE) of the Itaúsa fell 5 percentage points in the quarter.

According to the company’s president, the “environment should remain challenging in the short term, requiring resilience and business discipline”.

Shareholders’ equity expanded by 10.4% to R$67 billion.

The financial result was negative by R$ 138 million in the second quarter, compared to negative R$ 19 million last year.

According to the company, the R$ 120 million increase was mainly due to an increase in interest expenses due to the higher base rate in the period, in addition to interest expenses on the 4th issue of debentures.

Disclaimer

O Money Times publishes articles of a journalistic nature, which aim at the democratization of information. Our publications must be understood as announcing and disseminating bulletins, and not as an investment recommendation.

Receive Money Times newsletters!

Sign up for our newsletters and be always well informed with news that enrich your day! Money Times brings 8 curators covering the main themes of the market. Register now and receive the information directly in your email. It’s free!

About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

Check Also

Elections 2022: Lula or Bolsonaro? Ex-military millionaire shocks him by saying he will make money in any scenario; understand

Elections 2022: who will be the next president, Lula or Bolsonaro? The answer to that …