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Back in the Game

Nov 7, 2003

Unibanco, Brazil's third-largest private-sector banking group in terms of assets, has made a strong comeback in 2003, posting record first half pre-tax profits of $338.5 million. This was more than it earned in the whole of last year, when it announced just $314.8 million in pre-tax profits, its worst result since 1996.

Return on equity rose to 15.3% in the first half of this year, thanks to a combination of increased lending,...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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