Itaú Unibanco Holding S.A. (“Itaú Unibanco” or “Company”), in compliance with the provisions of Article 157, paragraph 4 of Law No. 6,404/76 and Resolution No. 44/21 of the Brazilian Securities and Exchange Commission (CVM), informs its stockholders and the market in general that it released as of this date its projections for the year 2026 in accordance with item 3 (“Projections”) of the Reference Form.
2026 guidance considers the 2025 adjusted income statement as a starting point. The adjustment details are available at the
Management Discussion & Analysis report
(“MD&A”, page 28) and at the fourth quarter of
2025 earnings presentation
(page16). The 2025 Adjusted Income Statement spreadsheet is available for download at the Investors Relations website.
Click here to access it.
2026 Guidance
Total credit portfolio(1) Growth between 5.5% and 9.5%
Credit portfolio - Brazil Growth between 6.5% and 10.5%
Financial margin with clients Growth between 5.0% and 9.0%
Financial margin with the market
Between R$2.5 bn and R$5.5 bn
Cost of credit(2)
Between R$38.5 bn and R$43.5 bn
Commissions and fees and results from insurance operations(3) Growth between 5.0% and 9.0%
Non-interest expenses Growth between 1.5% and 5.5%
Effective tax rate Between 29.5% and 32.5%
(1) Includes financial guarantees provided and private securities; (2) Composed of expected loss expenses, discounts granted and recovery of loans written off as losses; (3) Commissions and fees (+) income from insurance, pension plan and premium bonds operations (-) expenses
for claims (-) insurance, pension plan and premium bonds selling expenses.
In addition, the company considers cost of equity of around 15% p.a. for business management purposes.
Information on business outlook, projections, and operational and financial goals are solely forecasts, based on management’s current expectation in relation to the future of Itaú Unibanco. These expectations are highly dependent on market conditions, the country’s economic performance, of the sector and the international markets. Therefore, our effective results and performance may differ from those forecasted in this prospective information.
Gustavo Lopes Rodrigues
Investor Relations Officer
Itaú Unibanco – Comunicação Corporativa
(11) 5019-8880 / 8881
imprensa@itau-unibanco.com.br
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SOURCE Itaú Unibanco Holding S.A.
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