Dallas, Texas 02/26/2014 (FINANCIALSTRENDS) – ItauUnibanco Holding SA (ADR)(NYSE:ITUB) has reported its quarterly earnings for the fiscal past . The company showed that the earnings for past quarter has been $2.1 billion. This has proved to be an increase by over 34.3% over the previous quarter of the year before.
ItauUnibanco Holding SA (ADR)(NYSE:ITUB) also reported the full year results for 2013. The income which when considered on a recurring income principle was at $7.3 billion. This too proved to be an increase by over 12.9% over previous year.
ItauUnibanco Holding SA (ADR)(NYSE:ITUB) also reported that the income which is inclusive of the non-recurring subjects was found to be in the $7.3 billion category. The increase was noted to be 15.4% in the previous year.
ItauUnibanco Holding SA (ADR)(NYSE:ITUB) has seen the turn around happen with some drastic measures it implemented over the past quarters. First up was the lowering of expenses –both loans and leases were found to have nose-dived. Secondly, it also increased its financial margins. This was over and above the increase in the banking service fees. Additionally, the banking charges too have resulted in the company recording an year over year increase in the holdings. Additionally, the non-interest expenses too proved to slow down leading to better over all position for the company.
ItauUnibanco Holding SA (ADR)(NYSE:ITUB) outlook for the current fiscal too is expected to be exciting. First is the loan loss, which also showed net improvement which was in the region of $5.4 billion as well as $6.3 billion for the current fiscal. Additionally, it was fond that the non-interest costs were found to be in the region of 10.5% as well as 12.5%. Again, the range for the company is between 5.5% and 7.5%, especially if the benefits of its Credit Card segment were to be lowered.
