Itau Unibanco Sees NPL Spike

Itau Unibanco Sees NPL Spike


Leading Brazilian bank Itau Unibanco suffered a sharp rise in non-performing loans in Q1 as a result of the global financial crisis. Loans overdue for more than 60 days and without generation of revenues on the accrual basis amounted to BRL13.4bn at the end of March, up 28% from the end of 2008, when the recently merged entity had BRL10.8bn in NPLs. “During the period, the adverse effects of the international economic/financial crisis spread among a number of industries, thus hurting the demand

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