Itaú Unibanco Holding S.A. Reports Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Effective Tax Rate Guidance for the Full Year of 2018
For the six months, the company reported income before income tax and social contribution of BRL 11,938 million compared to BRL 17,076 million a year ago. Net income was BRL 12,451 million compared to BRL 12,655 million a year ago. Net income attributable to owners of the parent company was BRL 12,129 million compared to BRL 12,394 million a year ago. Diluted earnings per share were BRL 1.86 compared to BRL 1.89 a year ago. Interest and similar income was BRL 65,196 million compared to BRL 76,811 million a year ago. Adjusted net income was BRL 25,558 million compared to BRL 37,758 million a year ago. Net cash used in operating activities was BRL 53,517 million compared to net cash from operating activities of BRL 12,003 million a year ago. Purchase of fixed assets was BRL 517 million compared to BRL 376 million a year ago. Purchase of intangible assets /goodwill was BRL 1,338 million compared to BRL 714 million a year ago. Recurring Return on Average Equity Annualized was 20.1% as at June 30, 2018 compared to 20.9% a year ago.
For the year 2018, the company expects effective tax rate would be around 30%.