ITUB: Itau Unibanco Holding S.A. Instablogs

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Wednesday, May 15, 7:21 AM Citigroup (C) agrees to sell its Brazilian credit card and consumer finance business to Itau Unibanco (ITUB) for $1.37B, subject to regulatory approval. The transaction is expected to generate an after-tax gain-on-sale of about $300M ($0.10/share). Comment! [Financials]
Monday, May 6, 9:09 AM Bacon Bradesco (BBD) drops out of the bidding for Citigroup's (C) Brazilian consumer finance unit, according to a local newspaper, after getting no reply on its $1.49B offer. With Banco Santander (SAN) not yet indicating any interest, it could leave just Itau Unibanco (ITUB) as the lone potential buyer. 2 Comments [Financials]
Thursday, April 25, 9:06 AM Citigroup (C) continues its exit from non-core markets, nearing a deal to sell its Uruguay retail operations to Brazil's Itau Unibanco (ITUB), according to a Uruguay newspaper. A purchase would turn Itau into Uruguay's 2nd largest bank after Santander. Comment! [Financials]
Thursday, March 7, 1:28 PM Along with a big move higher in Petrobas the past couple days have been sizable gains for Itau Unibanco (ITUB) and Vale. These stocks more or less dominate the Bovespa and the EWZ, and both are surging alongside. EWZ up another 2.2% today, -14% Y/Y. Comment! [Global & FX]
Monday, November 5, 2012, 2:52 PM Performance in Brazil is a negative in an otherwise positive earnings report from HSBC as the bank - specifically citing Brazil - said loan impairment charges in Latin America in Q3 jumped 25%. The country's banking sector has lost 10% of its value this year thanks to slowing growth no longer being able to mask a rise in non-performing loans. Comment! [Financials, Global & FX]
Friday, August 31, 2012, 2:48 PM Fans of Brazil's Banco Bradesco (BBD) can take comfort or run for the hills as 18 out of 24 analysts surveyed have a buy rating on the lender, the highest for any stock on the Bovespa. Most are banking on a re-acceleration of the struggling economy as 500 basis points of central bank rate cuts work their way through. Similarly valued and rated is the country's largest lender, Itau Unibanco (ITUB). 1 Comment [Financials]
Friday, April 27, 2012, 3:24 PM Brazil's Bovespa continues to drop, -0.8% today as VALE, already stung by diving earnings, has its $5.9B potash project in Argentina threatened by Kirchner's shenanigans. Brazil's banks are also booking losses as the country enters the "not fun" part of a consumer credit boom. On the plus side, the central bank is aggressively cutting rates. The divergence between Brazil and the S&P. 2 Comments [Global & FX, On the Move, Quick Ideas]
Wednesday, April 25, 2012, 6:12 PM Not joining in the worldwide rally today was Brazil (EWZ -0.8%), dragged down by a plunge in Itau Unibanco (ITUB -5.7%). Rising defaults forced the lender to raise provisions for bad loans by 38% as the country faces the downside of a consumer credit boom. Keep an eye on tomorrow's earnings from Banco Santander's (STD) - from Spain (with its own issues), but with large Brazilian operations. Comment! [Global & FX, Financials]
Tuesday, February 7, 2012, 8:23 AM Brazilian bank Itau Unibanco (ITUB) intends to pay up to 11.77B reais ($6.81B) to buy the almost 50% of card payment processor Redecard it doesn't already own. Comment! [M&A, Financials]
Friday, December 30, 2011, 7:42 AM Brazil's surging economy of the past few years owes a least a bit to its citizen's appetite for debt (and bank willingness to issue it), making bill collecting the latest boom industry there. The volume of credit has doubled to 50% of GDP in less than a decade, with 5.6% of the $1.1T total more than 90 days past due. Some Brazilian banks YTD: BBD -19%, BSBR -41%, ITUB -24%. 1 Comment [Global & FX]
Friday, December 23, 2011, 8:31 AM Brazil dips its toe into the QE business, de facto requiring large lenders use part of their reserves deposited with the central bank to purchase loan portfolios from smaller institutions. If the big banks don't participate, they won't receive interest on a portion of their deposits with the central bank, no small inducement when the rate is 11%. Comment! [Global & FX, Financials]
Tuesday, December 20, 2011, 9:05 AM Premarket gainers: CSIQ +27%. PGNX +26%. AIS +17%. SLXP +11%. S +7%. CLWR +7%. JEF +6%. ALU +6%. NOK +5%. DB +5%. RIO +5%. MT +4%. STD +4%. BBVA +4%. STM +4%. VHC +4%. GSS +4%. ANR +4%. MS +4%. ERIC +4%. BHP +3%. ZMH +3%. VALE +3%. ITUB +3%. SNE +3%. C +3%. VE +3%. X +3%. MU +3%. HAL +3%. SI +3%.
Losers: TRGT -22%. RHT -8%. GFA -4%. Comment! [On the Move]
Thursday, November 10, 2011, 9:00 AM Premarket gainers: FRO +16%. XIN +12%. FTK +9%. CSCO +7%. NBG +7%. ING +7%. CX +6%. DB +5%. BCS +5%. SI +4%. PCX +4%. MS +4%. CS +4%. S +3%. STD +3%. LYG +3%. ANR +3%. C +3%. MU +3%. NVDA +3%. S +3%. BHP +3%. VALE +3%. NOK +3%. ARMH +3%. BAC +3%. UBS +3%. FTE +3%. PBR +3%. TOT +3%. ITUB +3%. UBS +3%. TEF +3%. TS +3%. RF +3%. HAL +3%. DANG +3%. X +3%. AKS +3%. CHK +3%.
Losers: GMCR -30%. KLIC -7%. Comment! [On the Move]
Wednesday, November 9, 2011, 4:34 PM S&P weighs in on the Brazilian banking sector, saying on "industry risk" alone, the banks are no riskier than German or U.K. lenders and perhaps safer than those in the U.S. Bank safety, however, is brought down when country-related factors are thrown in. Financial ETF: BRAF -21% YTD. Largest bank: ITUB -26% YTD. Comment! [Global & FX, Financials]
Monday, November 7, 2011, 10:37 AM Among the winners thus far today are Brazilian shares (EWZ +1%). Taking note of the woes of Brazil's stocks this year (Bovespa -20%), Barron's points out the still-solid growth of the economy as well as a central bank firmly in easing mode with a lot of room between policy rates (11.5%) and zero. Comment! [Global & FX, Quick Ideas]
Thursday, August 11, 2011, 9:25 AM Premarket gainers: AONE +20%. CSCO +12%. EAT +11%. NWS +8%. AKS +5%. CLWR +5%. MPEL +5%. KSS +5%. NVDA +5%. BX +4%. BAC +4%. ALU +4%. ETFC +4%. DRYS +4%. PBR +4%. CAJ +4%. ARMH +4%. SID +4%. ASX +4%. RF +4%. VALE +3%. MGM +4%. LYG +3%. MOS +3%. CREE +3%. ASML +3%. BRFS +3%. GS +3%. SINA +3%. BHP +3%. ITUB +3%. POT +3%. ERIC +3%.
Losers: SODA -10%. SLE -8%. AMSC -7%. ALLY -5%. NVS -4%. LOGI -4%. CRH -3%. Comment! [On the Move]

ITUB Itau Unibanco Holding S.A.

ITUB

Itau Unibanco Holding S.A.