LukaTDB
Investment Thesis
- I believe that Itaú Unibanco's (NYSE:ITUB) digital bank iti Itaú will further increase its customer base by focusing on a younger target group that has not yet opened a banking account.
- Due to its strong brand image, which
Itaú Unibanco: Market Leader With Growth Potential
Summary
- Having generated a revenue of BRL 125,601 billion in 2021, Itaú Unibanco is the largest bank in Brazil.
- Itaú Unibanco has agreed today to acquire control of Avenue, which is a brokerage that aims to provide Brazilians with access to foreign markets.
- With its digital bank operating under the name iti Itáu, the company is approaching a younger target group that does not yet have a bank account.
- The digital bank reached 16.7 million customers in Q1 2022. In the first quarter of 2022, 2.1 million new clients were acquired.
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Analyst’s Disclosure:I/we have a beneficial long position in the shares of ITUB, XP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
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