Banco Itaú is a great moneymaking machine. Year in, year
out, it rakes in more money than any other local bank in Latin
The Local Latin Leader
Banco Itaú consistently makes more money than any other domestically owned bank in Latin American , and is ready and able to resist the advance of US and European players.
Itaú has posted a return on equity in excess of 24%
for the last three years, in spite of a 30% currency
devaluation in 1999 and this year's deteriorating market
outlook. Itaú has become an investor's favorite for both
its performance and its commitment to shareholder value.
Although Itaú is Brazil's second-largest private-sector
bank by assets, it has a larger market capitalization than its
great rival, Banco Bradesco. Itaú's share price may have
slid by one-third since January, but it is still up by 35% in
dollar terms since the beginning of 1999.
Recognizing the bank's remarkable performance, LatinFinance
has decided to give Itaú a special prize this year,
distinguishing the bank with its first ever Hors...
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