Lender Itau hikes net interest income outlook as profit edges above forecasts
Itau, Latin America's most valuable bank by market value, reported an 11.5 billion reais ($2.09 billion) net recurring profit for the quarter through the end of June, compared to an estimate of 11.3 billion reais from analysts polled by LSEG.
The Brazilian lender's annualized return on equity (ROE), a gauge of profitability, stood at 23.3%, rising from 22.4% a year earlier.
The lender said it expects the net interest income (NII) with clients to grow between 11% and 14% this year, from 7.5% to 11.5% previously.
Itau also revised the effective tax rate to between 28.5% and 30.5% this year, from a range between 27% and 29% previously.
In a separate filing, Itau announced interest on equity to shareholders of about 0.36 real per share.
($1 = 5.5043 reais)
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