Brazil's Itaú to simplify revenue accounting in upcoming results
SAO PAULO Oct 23 (Reuters) - Itaú Unibanco Holding SA, Brazil's largest bank by market value, plans to present a new way of calculating interest income in its upcoming release of financial statements slated for next month.
In a securities filing on Friday, Itaú said it will categorize spread-sensitive transactions and proprietary working capital transactions as the new components of interest income - or revenue from lending-related transactions. The decision will allow the bank to "simplify the presentation of those items and to consequently facilitate the analysis of their evolution," the filing said.
The new methodology will take effect from the upcoming release of third-quarter result on Nov. 3. (Reporting by Guillermo Parra-Bernal; Editing by Diane Craft)
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