Itaú Unibanco (ITUB4) posted recurring managerial profit of R$ 12.407 bn in the second quarter of 2026, with an annualized recurring return on average equity (ROE) of 24.3%. The total loan portfolio reached R$ 1.522 tn in the period, and the consolidated non-performing loan ratio over 90 days stood at 1.9%.
Compared with the first quarter of 2026, recurring profit grew 1.0%, while ROE fell 0.5 percentage point from the previous 24.8%. Versus the second quarter of 2025, profit rose 7.8% and ROE increased 1.0 percentage point. In the first half of 2026, recurring profit totaled R$ 24.689 bn, up 9.1% from the same period in 2025, with ROE of 24.5%.
The loan book grew 2.7% in the quarter and 9.6% in 12 months, supported by balanced expansion of operations with individuals and companies. In the individuals segment, there was growth in mortgage loans of 3.9% and in payroll-deductible loans of 3.5% in the quarter, with a highlight for private payroll-deductible credit, which advanced 14.3%. The financial margin with clients increased 3.3% in the period, driven by the larger loan portfolio and the calendar effect.
Service and insurance revenues rose 0.4% in the quarter, driven mainly by fund management and higher earned premiums in insurance, partially offset by lower gains from payments and collections after adjustments in fee packages. Non-interest expenses totaled R$ 16.7 bn, up 3.3% from the previous quarter, a movement attributed to first-quarter seasonality and lower volumes at the beginning of the year, which reduce transactional expenses.
Brazil’s efficiency ratio was 35.5% in the second quarter of 2026, and the Common Equity Tier 1 capital ratio (CET1) reached 12.3%, supported by organic capital generation and a prudent resource management policy. Itaú Unibanco revised its 2026 guidance for growth in service fee revenues and insurance results to a range between 2.0% and 5.0%, citing higher volatility in the capital markets. According to the company, the second-quarter 2026 result was in line with market consensus, which estimated profit of R$ 12.466 bn.
