The Local Latin Leader

The Local Latin Leader

Europe

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 pric

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