It is a Brazilian banking institution that specializes in the finance and insurance sector. It is one of the most important banks in America. The areas where it offers its services are Latin America, Europe, Asia and the United States.
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It was created in 1945 by Alfredo Egydio de Souza Aranha, Eudoro Libânio Villela, Olavo Egídio Setubal, Walther Moreira Salles and João Moreira Salles in Brazil. During its history, it acquired several institutions to grow, such as Banco de Comércio Paulista in 1961, Banco Francês e Brasileiro in 1995, Banco Banerj in 1997, Banco do Estado de Minas Gerais and Banco del Buen Ayre in 1998, Banco do Estado do Paraná in 2000, Banco Fiat do Brasil in 2003 and many more. It became the largest Brazilian bank in the southern hemisphere thanks to its merger with Unibanco in 2008.
The Swift Code (Society for Worldwide Interbank Financial Telecommunication), also known as BIC, is used during an international transfer to identify the receiving bank: ITAUBRSP.
Number of Employees
The bank has approximately 120,000 employees.
The rating is the evaluation of a bank and the risks it can take in case of not paying a debt. Moody’s, S&P, and Fitch are the agencies in charge of it.
Banco Itaú has a rating of:
- Moody’s = Ba3.
- S&P = BB-.
- Fitch = BB.
Ba3 (Moody’s) = Questionable Credit Quality.
BB- (S&P Global) = It is very prone to economic changes.
BB (Fitch) = It has solvency guaranteed, but with risks.
If you want to know the ratings more precisely, go to https://www.itau.com.br/relacoes-com-investidores/show.aspx?idCanal=FU6i8Jam3/jJ3VA2apwYaA==&linguagem=en.
The headquarters of the entity is in the city of São Paulo, State of São Paulo, Brazil.
- For people: The bank offers products and services that include accounts, credit cards, loans, financing, investments, private bonds, savings bonds, consortium, insurance, exchange, rates and more to individual clients.
- For companies: The entity provides legal account fees, network card machine, commercial loans, payments, receipts, business cards, business insurance, currency exchange and commerce, business investments and more.
- Address: Alfredo Egydio de Souza Aranha Square, 100, Olavo Setubal Tower, Jabaquara Park – 04344-902 – Sao Paulo – Brazil
- Phone Number: +55 11 2155 4828