February 11, 2020 / 12:31 PM / 15 days ago

Itau Unibanco likely to see 2020 growth in investment banking, funds

SAO PAULO, Feb 11 (Reuters) - Brazil’s largest lender Itaú Unibanco Holding SA said 2020 fee income growth was likely to be driven by investment banking and fund management fees, Chief Executive Officer Candido Bracher told journalists on Tuesday.

The bank expects its fee income to rise above inflation this year, Chief Financial Officer Milton Maluhy said, despite a challenging market for the payments acquiring business. On Monday, Itau said its fee income should grow between 4.5% and 7.5% in 2020.

Reporting by Carolina Mandl; Editing by Edmund Blair

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