Business · Companies · 22 hrs ago
Itaú, Bradesco and Santander earn R$22.61bn in third quarter
Itaú Unibanco, Bradesco and Santander Brasil earned R$22.61 billion combined in the third quarter, up 2.4% from the same period last year.
The figures cover Brazil’s three largest private retail banks and were slightly above the market’s average forecast of R$22.6 billion.
Household and business debt is putting pressure on borrowers, making it harder for some to repay loans and increasing banks’ concerns about missed payments.
The impact differed: Santander’s profit fell 28%, while Bradesco reported its 11th straight quarterly rise in profit and Itaú was described as the most resilient.
High interest rates are expected to persist, as slow fiscal improvement may limit how quickly Brazil’s central bank can cut its benchmark rate, currently 13.75%.
The banks’ results point to continued challenges for lending and profitability, though no specific next steps were given.
Itaú Unibanco, Bradesco and Santander Brasil reported combined profits of R$22.61 billion in the third quarter.
The total was 2.4% higher than in the same period last year and 0.6% above the previous quarter.
The banks’ results showed differing levels of pressure from rising loan delinquency.
Santander reported the sharpest profit decline, while Itaú was described as the most resilient.
High interest rates and pressure on household and business finances weighed on the sector.
- Who
- Itaú Unibanco, Bradesco and Santander Brasil.
- What
- The three banks reported combined third-quarter profits of R$22.61 billion.
- When
- The third quarter, ending in September. The report was published on November 7, 2026.
- Where
- Brazil.
- Why
- Not stated
This story does not have two clearly opposing sides.
Itaú Unibanco, Bradesco and Santander Brasil recorded combined profits of R$22.61 billion.
CNN Brasil published its report on the banks’ results.
- Combined profit
- R$22.61 billion
- Year-on-year change
- Up 2.4%
- Quarter-on-quarter change
- Up 0.6%
- Bradesco profit
- R$7.1 billion
- Santander Brasil profit
- R$2.9 billion
What people are saying
The post-election context reinforces a scenario of high interest rates for a prolonged period, increasing the attractiveness of [banking] businesses with predictable profits, strong capital returns and short-term cash generation.
With greater pressure on household incomes and companies more indebted, we have to be more cautious and move more slowly.
These are obviously figures below the level of profitability we are seeking.