Itaú Unibanco
| Itaú Unibanco Banco Múltiplo SA
|
|
|---|---|
 |
|
| legal form |
Sociedade Anônima Public Company (Brazil) |
| ISIN | BRITUBACNPR1 |
| founding | November 4, 2008 |
| Seat |
 Brazil , São Paulo
|
| management | |
| Number of employees | 108,000 |
| Branch | Credit institute, universal bank |
| Website | www.itauunibanco.com.br |
Itaú Unibanco ( Itaú Unibanco Banco Múltiplo SA ) is a Brazilian holding and bank headquartered in São Paulo . The company is listed in the IBOVESPA financial index on the São Paulo Stock Exchange. The company was created in 2008 from a merger of the two banks Banco Itaú and Unibanco . It has 57.5 million customers and describes itself as the largest private bank in the southern hemisphere and primarily competes nationally with Banco do Brasil , Caixa Econômica Federal and Banco Bradesco . Pedro Moreira Salles is President of the Itaú Unibanco Board of Directors.
history
The bank was founded in 1924 as Seção Bancária da Casa Moreira Salles by João Moreira Salles in Poços de Caldas , Minas Gerais state. In 1933 his son Walter Moreira Salles joined the bank management. After a merger with three regional banks on July 15, 1940, the bank was renamed Banco Moreira Salles .
In 1945 it was renamed Central de Crédito . The company later switched to Banco Federal de Crédito . In 1964, the bank merged with the Banco Federal de Crédito to form Banco Itaú . In 1966 the company acquired Banco Sul Americano and in 1969 Banco da América .
After a merger with Banco Mercantil Agricola in 1967, it was renamed União de Bancos Brasileiros SA .
In the 1970s, Banco Itaú merged with Banco Aliança in Rio de Janeiro (1973), with Banco Português do Brasil (1974) and Banco União Comercial (1974).
As part of the Brazilian economic crisis and the currency reform ( Plano Real ), Banco Nacional was also taken over in 1995 . This made Unibanco the third largest Brazilian bank.
Acquisitions of other financial companies followed:
- 1995 BFP - Banco Francês e Brasileiro from Crédit Lyonnais
- 1997 Banerj (Rio de Janeiro)
- 1998 BEMGE (Minas Gerais)
- 2000 Banestado (Paraná)
- 2001 BEG (Goiás)
In 2002, Banco Itaú acquired Banco Fiat , along with the financial operations of Fiat's Auto Finance. In April 2006, Banco Itaú acquired the Latin America business of Bank Boston from Bank of America , including its important private banking branches in Bermuda and Miami, which it then sold to Banco Itaú through the acquisition of FleetBoston . Banco Itaú also acquired the exclusive rights to acquire the financial operations of Bank Boston in Chile and Uruguay. In return, Bank of America received a 6 percent stake in Banco Itaú.
In 2008, Itaú took over Unibanco. The customer business will continue exclusively under the Itaú brand.
family business
The majority of the shares are held by the Moreira Salles family. The family's patriarch, Walter Moreira Salles, a well-known Brazilian banker, minister of economics and diplomat in Washington, died on February 27, 2001. His son Pedro Moreira Salles became Executive Director and Vice-President of the Board in 2006. The former finance minister Pedro Malan is chairman of the board and the former president of the central bank Arminio Fraga is on the board.
Products
Itaú Unibanco offers bank accounts, internet banking, insurance, credit, loans and similar financial services to its customers. Itaú Unibanco bought various companies such as Financeira Fininvest, Hipercard, Luizacred, PontoCred, Banco Dibens and Unicard.
Web links
- Official website of Itaú Unibanco (English)
- Official company website (port.)
- Argentine corporate site (esp.)
Individual evidence
- ↑ Management of Itaú Unibanco accessed July 26, 2011
- ^ Profile of Itaú Unibanco accessed July 25, 2011 (port.)
- ^ Message from the President accessed July 25, 2011 (port.)
- ↑ The Clever Family Bank - Bank Itau: Handelsblatt called, on 17 January 2008