Brazil's Itaú Unibanco expects higher provision growth this year

martes 5 de mayo de 2015 06:16 GYT
 

SAO PAULO May 5 (Reuters) - Itaú Unibanco Holding SA , Brazil's largest non-government bank, revised on Tuesday the following operating estimates for this year:

1) The bank expects growth in its consolidated loan book - which includes guarantees and corporate debt holdings - between 3 percent and 7 percent this year, down from a range of 6 percent and 9 percent previously announced in February.

2) Itaú targets interest income, or revenue from lending-related transactions, to grow between 14.5 percent and 17.5 percent this year, compared with a prior range estimate of 10 percent and 14 percent.

3) The bank expects to spend between 15 billion reais and 18 billion reais ($4.85 billion and $5.82 billion) for loan-loan provisions this year, compared with a prior range guidance of 13 billion reais to 15 billion reais.

4) Itaú forecasts fee income, or revenue from fees, financial services and commissions, and insurance premium underwriting to grow between 9.5 percent to 11.5 percent this year, higher than the prior growth guidance of 9 percent to 11 percent.

5) Itaú forecasts non-interest expenses, or general and administrative expenditures, to rise between 7 percent and 10 percent this year, faster than the 6.5 percent to 8.5 percent range previously announced.

($1 = 3.0854 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Additional reporting by Renan Fagalde in São Paulo)