Ita? Unibanco’s recurring net income should grow 7.6% in the second quarter from a year before, to R$ 5.94 billion, in a moment of pressured financial margins and weak demand for credit, according to an average of analysts estimates. The bank will release its results today after the market close in Brazil.
“Overall, the trend for asset quality improvement should remain encouraging, but the full impact of lower interest rates on credit cards and the overall weakness of credit growth should hurt net interest margin,” said JP Morgan analyst Domingos Falavina. He forecasts that the bank’s net financial margin fell by 2.6%.
Banco do Brasil Investimentos (BB-BI) foresees that Ita? Unibanco’s net interest income will fall by 3.2% in the second quarter.
According to Tito Labarta, an analyst at Deutsche Bank, Ita?’s profitability, calculated by the return on equity, will remain close to 20%.
UBS sees Ita? Unibanco’s loan portfolio retracting by 1.4% in the second quarter compared to the same period in 2016, BB-BI projects a 3.4% drop in this indicator, while Deutsche Bank sees a 4% decrease.
The material has been provided by InstaForex Company – www.instaforex.com
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