Skip to content
Subscriber Only

Itau CEO Setubal Sees 15% Jump in 2012 Profit on Rate Cuts

Profit at Itau Unibanco Holding SA, Latin America’s largest bank, may jump 15 percent next year as interest-rate cuts in Brazil reduce loan delinquencies, Chief Executive Officer Roberto Setubal said.

“We’ll have a period of reduction in the interest rates and this will help to reduce delinquencies, and improve economic conditions in general,” Setubal, 56, said in an interview yesterday at his office in Sao Paulo. “So it’s very positive for credit and positive for banks.”