Brazil’s Itau Unibanco reports 4% growth in fourth-quarter profit

SAO PAULO (Reuters) -Brazil’s largest private lender, Itau Unibanco, said on Monday it expects faster growth of its loan portfolio this year, while net interest income growth should slow down. The lender said it expects its credit portfolio to grow by between 6.5% and 9.5% in 2024 from last year, while net interest income from clients should grow between 4.5% and 7.5%.

Itau reported a 4% increase in fourth-quarter recurring net profit compared with the previous year to 9.40 billion reais. Analysts polled by LSEG had expected 9.38 billion reais.

(Reporting by Peter Frontini; Editing by Anthony Esposito)