The Local Latin Leader

Nov 1, 2001

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.

Roberto Setubal

Banco Itaú is a great moneymaking machine. Year in, year out, it rakes in more money than any other local bank in Latin America.

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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