Itaú Unibanco Holding SA history, company profile (overview) and history video
Itaú Unibanco Holding S.A. is a Brazilian retail bank and financial conglomerate headquartered in Sao Paolo, Brazil.
HISTORY
Itaú Unibanco was founded in 2008 as a result of the merger of Banco Itaú and Unibanco. The two financial institutions that merged to create a new institution involve roots that can be traced over 95 years ago.
Banco Itaú
Banco Itaú was founded in 1945 under the name Banco Central de Crédito (Central Bank of Credit). It later changed its name to Banco Federal de Crédito (Federal Bank of Credit). Banco Federal de Crédito merged with Banco Federal Itaú S.A. and Banco Itaú in 1964.
Unibanco
Unibanco in 1924 as the Casa Bancária Moreira Salles (Moreira Salles Banking House). Banco Moreira Salles merged with three regional banks and eventually changed its name to União de Bancos Brasileiros (Unibanco) in 1940.
OPERATIONS
The company operates through the following segments: Retail Banking and Wholesale Banking.
Retail Banking
The Retail Banking segment covers retail and real estate credit, credit cards and consumer finance, insurance, asset management, pension plan and capitalization products, and a variety of credit products and services for individuals and small companies.
Wholesale Banking
The Wholesale Banking segment involves Itaú BBA (Corporate, IB, and Treasury), Wealth management, and corporate and investment banking activities, including its middle-market banking business.
With more than 99 000 employees in more than 18 countries, Itaú is considered one of the largest financial conglomerates in the Southern Hemisphere, one of the largest banks in the world by market value, and one of the biggest Latin American banks by assets and market capitalization. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and www.itau.com.
**Video published on YouTube by “Companies History“.