ITUB - Itaú Unibanco sees credit portfolio growth up to 9.5% this year

Itaú Unibanco Holding (ITUB) expects total consolidated credit portfolio growth of 5.5%-9.5% this year, with 8.5%-12.5% for Brazil. Total credit portfolio, including financial guarantees provided and corporate securities, increased 20% to R$869.5B in 2020.Sees commissions and fees and results from insurance operations increasing 2.5% to 6.5%, both consolidated and for Brazil.Also sees noninterest expense -2.0%-+2.0%, for both consolidated and Brazil.Q4 EPS of R$0.78 vs. R$0.46 in Q3 and R$0.77 in Q4 2019.Q4 operating revenue of R$29.2B vs. R$28.4B in Q3 and R$31.8B in Q4 2019.Q4 recurring managerial return on average equity (annualized) was 16.1% consolidated vs. 15.7% in Q3 and23.7% on Q4 2019; 17.8% Brazil vs. 16.8% in Q3 and 25.1% in Q4 2019.Book value per share was R$13.99 in Q4 vs. R$13.37 in Q3 and R$13.54 a year ago.Previously: Itau Unibanco reports FY results (Feb. 1)

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Itaú Unibanco sees credit portfolio growth up to 9.5% this year