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BSBR - Itau Unibanco Taking The Right Approach But Needs A Healthier Underlying Economy
Banco Santander Brasil SA American Depositary Shares each representing one unit
I wasn't overly fond of Itau Unibanco (ITUB) back in the fall of 2019, and while COVID-19 wasn't on the radar then, Itau's performance since then has been lackluster - lagging the Brazilian exchange by more than 20% and Banco Santander (BSBR) by about 15%, while outperforming Bradesco (BBD) by about 10%. Competition from new non-traditional banking sources remains a significant issue, as does the government's handling of the economy, but I will say that Itau seems to be handling its credit exposures and costs more realistically and