Brazil's Itau focuses on growing payment app, less on card processing [Reuters]
Itau Unibanco Banco Holding SA American Depositary Shares (Each repstg 500 Preferred shares) (ITUB)
Last itau unibanco banco holding sa american depositary shares (each repstg 500 preferred shares) earnings: 2/11 04:01 pm
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Source: Reuters
Brazil's Itau focuses on growing payment app, less on card processing - Reuters 2 Min Read SAO PAULO, Aug 13 (Reuters) - Brazilian lender Itau Unibanco Holding SA is shifting its payment services strategy to focus on its most profitable segments, a senior executive told Reuters, as competition in the card processing business has weighed on fees. “We don’t want to focus on card processing for our larger clients. That service should be priority for the mid-sized and small clients,” Marcos Magalhaes, CEO of Itau’s card processing unit Rede, said in a late Monday interview. Supplying card processing machines and services to Brazil’s largest retailers has become a money-losing business since the final quarter of last year, Magalhaes said. Still, the segment is still profitable with smaller clients, for which Rede zeroed fees in receivables-backed credit three months ago. Magalhaes said Rede lost large retailers as clients, but has been gaining market share among companies with annual reven
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ITUB
News
- ITAÚ UNIBANCO - Interactive Meeting 1Q24PR Newswire
- Itaú Unibanco Holding's 2023 Annual Report on Form 20-F filed with the SEC and the CVMPR Newswire
- ITAÚ UNIBANCO - Interactive Meeting 1Q24PR Newswire
- ITAÚ UNIBANCO - Interactive Meeting 1Q24PR Newswire
- ITAÚ UNIBANCO 1Q24 ResultsPR Newswire
ITUB
Earnings
- 8/8/23 - Beat
ITUB
Sec Filings
- 5/2/24 - Form 6-K
- 5/2/24 - Form 6-K
- 4/30/24 - Form 6-K
- ITUB's page on the SEC website