Itaú makes R$12.6 billion in profit in the 3rd quarter, but the growth rate is the lowest of the year
Profitability remains above 23% and financial margin grows, while delays for small companies rise again and ADR declines.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM TIMES BRASIL · 3 MIN
Itaú Unibanco made a profit of R$12.6 billion in the third quarter of 2026 in its recurring management measure, according to Times Brasil. The result represents an increase of 6.7% over the same period of the previous year. Bloomberg Línea, however, calculates an increase of 6.2%, with a profit of R$12.617 billion, which shows that the percentage of growth varies depending on the source consulted.
Compared to the second quarter, profit rose 2.5%, according to Times Brasil. The financial margin with customers reached R$33.3 billion, an increase of 6.9% in one year and 2.6% in the quarter. Profitability also remained high: the managerial recurring ROE was 23.6% in the consolidated and 24.5% in Brazilian operations.
The pace, however, lost strength throughout the year. According to Bloomberg Línea, profit had grown 10.4% in the first quarter and 7.8% in the second, so that the third appears as the quarter with the lowest growth in 2026. The same source points out that delays in micro and small companies rose again in the period, a point of attention for the quality of the credit portfolio.
Readings on market expectations also differ. Bloomberg Línea reports that the Bloomberg consensus was R$12.63 billion and classifies the result as in line. Seu Dinheiro cites an expected average profit of R$12.714 billion, a value higher than the published profit. Depending on the reference, the bank was close to the projection or slightly below it.
The balance arrived on the market after results from other large private banks that raised points of concern, according to Seu Dinheiro. In the United States, Itaú's ADR (ITUB) fell 1.67% in regular trading and closed at US$7.05, according to Bloomberg Línea. After closing in New York, at 4:45 pm local time, the stock lost another 0.14%, to US$7.04.
What changes for the investor
The balance sheet reinforces Itaú's ability to generate profits with high profitability, but highlights the slowdown in growth and the delays of small companies as points to monitor in the next results. As the two consensus references are at different levels, classifying the result as in line or below expectations depends on the source used. The detail of the credit portfolio, the margin and the ADR reaction in New York tends to weigh on the paper. This analysis does not project stock prices, and the real effect will depend on how the market digests the numbers in the coming sessions.
Automatically translated from Portuguese.
