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Strategies & Market Trends : Booms, Busts, and Recoveries

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From: elmatador	5/5/2005 10:06:56 AM
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Itaú‘s 1Q05 profit up 30.3% to R$ 1.141bn; ROE 35.1% São Paulo, May 03 - Itaú Holding Financeira, Brazil‘s second-largest private bank, on Tuesday said that its net profits rose at an annual rate of 30.3% in the first quarter, to R$ 1.141 billion ($1 = R$ 2.51). The January-to-March result means an annualized return on net equity (ROE) of 35.1%. Gains per share stood at R$ 10.04 in the first quarter. Revenue climbed 12.6% to R$ 5.007 billion, while financial service revenue advanced 27.7% to R$ 1.794 billion. Itaú had operating earnings of R$ 1.943 billion in the first quarter, representing a 38% rise from the same period last year. At the end of March, Itaú‘s net equity reached R$ 14.629 billion, up 17.2% in 12 months.

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