App Itau

App Itau

Banco Itaú S.A.
TypeSubsidiary
IndustryFinance and insurance
Founded1945
Defunct2008
Headquarters
Key people
Candido Botelho Bracher
ProductsBanking
RevenueUS$ 32.9 Billion (2007)
US$ 5.2 Billion (2007)
Total assetsUS$ 208.5 Billion (2007)
Number of employees
94,779 (2016)
ParentItaú Unibanco
Websitewww.itau.com.br

Banco Itaú S.A. was a former Brazilian bank that merged with Unibanco on November 4, 2008, to form Banco Itaú Unibanco.

Skip to content. App Light is the first step for customers joining the digital world. The biggest challenge was to create a solution side by side with the customer and ensure time-to-market and speed in the various phases of the app development. Fazer pagamentos pelo celular. Isso foi feito para mim. Login with your corporate credentials. Log in at iConectados.onmicrosoft.com.

History[edit]

Banco Itaú began in 1945 under the name Banco Central de Crédito (Central Bank of Credit) and later changed its name to Banco Federal de Crédito (Federal Bank of Credit). In 1964, Banco Federal Itaú S.A. merged Banco Federal de Crédito and Banco Itaú, a rural bank belonging to a group originated in Itaú de Minas, in Minas Gerais state.[1] Later that decade, Banco Itaú acquired Banco Sul Americano (1966) and Banco da América (1969).

App Itau

In 2020, due to improper charges between 2008 and 2018, Itaú signed an agreement with the Central Bank of Brazil committing itself to returning 75.6 million Reais to its customers.[2]

In the 1970s, it merged with Banco Aliança in Rio de Janeiro (1973), Banco Português do Brasil (1974), and Banco União Comercial (1974). In 1979, it opened its first operations abroad with a representative office in New York City and a subsidiary in Buenos Aires.

In the 1980s, it acquired only one small bank, Banco Pinto de Magalhães (1985). Still, this enabled it to continue growing while other Brazilian banks were getting smaller. In 1984, it converted its representative office in New York to a branch.

In the 1990s, it acquired BFB (Banco Francês e Brasileiro) (1995) from Credit Lyonnais, and also several privatized former state banks:

  • 1997: Banerj (Rio de Janeiro)
  • 1998: BEMGE (Minas Gerais)
  • 2000: Banestado (Paraná)
  • 2001: BEG (Goiás)

App Itau Download

During the 1990s, Banco Itaú invested heavily in automation, including ATMs and machines installed on customers' premises. At the same time, it cut its staff by more than 50%.

In 1994, it expanded its international operations by founding Banco Itaú Europa, Banco Itaú Argentina, and Itaú Bank (Cayman). In 1997, it acquired Bamerindus Luxembourg, which is now Banco Itaú Europa Luxembourg. When it acquired Banco del Buen Ayre in Argentina in 1998, it subsequently incorporated it into Banco Itaú Argentina, now known as Banco Itaú Buen Ayre.

Banco Itaú has also established a number of alliances. In 1996, it and Bankers Trust, New York, created Itaú Bankers Trust Banco de Investimento, the present Itauvest Banco de Investimento. Banco Itaú also has an important stake in Banco BPI, one of Portugal's largest banks. In 2002, Banco Itaú joined with Banco BBA-Creditanstalt S.A. (BBA) to create, in 2003, Banco Itaú-BBA, the largest wholesale bank in Brazil.

In the 2000s (decade), it continued to acquire banks. In 2002, it acquired Banco Fiat, together with all of Fiat's auto financing activities. In 2004, it opened a branch in Tokyo.

Itau

Then, in April 2006, Banco Itaú purchased the Brazilian operations of BankBoston, a subsidiary that Bank of America acquired with its purchase of FleetBoston. This increased Banco Itaú's clients by 300,000 and assets by R$22 billion. In return, Bank of America took about a 6% stake in Banco Itaú. BankBoston do Brazil had been founded in 1947. With the purchase, the BankBoston name disappeared from Brazil as Bank of America retained the rights to the name. Banco Itaú also received exclusive rights to purchase BankBoston's operations in Chile and Uruguay. In late 2006, it exercised these rights, and in late 2006 and early 2007, it received the necessary regulatory approvals. These two operations became Banco Itaú Chile and Banco Itaú Uruguay.

On November 2, 2008, Banco Itaú and the third largest Brazilian private banking group, Unibanco, announced their intention to merge.[3] In late February 2009, the Central Bank of Brazil approved the merger.

References[edit]

  1. ^'A trajetória do Banco Itaú'. Banco Itaú official site (in Portuguese). Retrieved 2010-11-16.CS1 maint: discouraged parameter (link)
  2. ^Lehmann, Jeferson (2020-06-16). 'Banco Itaú pratica cobranças indevidas e devolverá R$ 75 milhões'. Lehmann Advogados (in Portuguese). Retrieved 2020-06-25.
  3. ^'Shares soar as Brazilian banks merge'. Financial Times. Retrieved 2008-11-03.CS1 maint: discouraged parameter (link)

External links[edit]

Wikimedia Commons has media related to Banco Itaú.

App Itau Abre Conta

  • Banco Itaú Holding Financeira S.A. International Website (in English) (in Spanish) (in Portuguese)
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Banco_Itaú&oldid=1016730172'