Itaú Unibanco Holding S.A. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Reports Impairment Results for the First Quarter of 2018; Provides Effective Tax Rate Guidance for the Full Year of 2018
Itaú Unibanco Holding reported consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, operating Revenue was BRL 27,426 million against BRL 27,266 million a year ago. Result from Insurance, Pension Plan and Premium Bonds Operations before retained claims and Selling Expenses was BRL 1,898 million against BRL 2,007 million a year ago. Income before tax and minority Interests was BRL 9,977 million against BRL 8,970 million a year ago. Recurring net income was BRL 6,419 million against BRL 6,176 million a year ago. Recurring net income per share was BRL 0.99 against BRL 0.95 a year ago. Net income per share was BRL 0.97 against BRL 0.93 a year ago. Book value per share was BRL 18.27 against BRL 17.61 a year ago. Net income was BRL 6,280 million against BRL 6,052 million a year ago. Pro forma recurring net income was BRL 6,419 million against BRL 6,176 million a year ago. Pro forma operating revenues were BRL 27,426 million against BRL 27,266 million a year ago. Pro forma recurring net income per share was BRL 0.99 against BRL 0.95 a year ago. Pro forma net income per share was BRL 0.97 against BRL 0.93 a year ago. Pro forma book value per share was BRL 18.27 against BRL 17.61 a year ago.
For the quarter, the company's impairment was BRL 187 million against BRL 444 million a year ago.
For the full year of 2018, the company's expects effective tax rate from 33.5% to 35.5%.