Itau Unibanco recorded BRA25.7bn ($6.9bn) of net income in 2018, compared to BRA24.9bn at the end of 2017
Brazil-based bank Itau Unibanco has recorded total assets of BRA1,552.8bn ($423bn) in 2018, a 8.1% rise year-on-year (YOY) and a 2.3% rise from the previous quarter.
In addition, it earned BRA6.5bn in the fourth quarter of 2018, up 3.2% YOY. The bank stated its results were aided by higher revenues, decline in provisions and an improved financial margin.
Furthermore, operating revenues totalled BRA28.5bn in Q4 2018, up 2.3% YOY. Over the entire year, BRA111.8bn was made in operating revenues, with the same rise of 2.3% YOY.
Itau is currently present in 19 countries with 512 branches and 13.5 thousand employees.
Itau digital initiatives
One aspect of the bank that Itau were keen to highlight were its digital offerings. The bank now has more than 11 million customers using digital channels.
In addition, over 800 of its employees now have 22,000 hours of cloud-based training between them.
Itau’s mobile app now has over 40 new functionalities and all of the bank’s apps received 318 upgrades overall. On average, it was two upgrades per month.
As a result of the Itau digital push, there was 35% growth in the number of individual customers accessing digital channels on a daily basis.
Speed and responsiveness are hugely important for customers to carry out banking tasks effectively. Itau Unibanco achieved an overall rating of 4.4. Its app is praised for its simplicity and quick response time.
Lívia Chanes, head of digital channels at Itau Unibanco, comments: “We aim to design functions that answer our clients’ demands – we want an app that is more convenient and intuitive. To achieve that, we have thorough monitoring of feedback from app stores and social media.
“All of our interactions are tested with client groups and gradually adjusted to their feedback to become as practical and charming as possible. We also add our technical achievements to reach these top evaluations – we are currently at the lowest point in history in crash occurrences.
“These good evaluations of our app originate from three sources: intuitive experience; complete features, with virtually all of the bank’s products and services available in the app; and safety, with a cybersecurity team fully dedicated to making sure that mobile operations remain safe.”