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SAO PAULO, Nov 4 (Reuters) – Brazilian lender Itau Unibanco on Tuesday reported third-quarter net recurring profit in line with analysts’ estimates and raised its projection for 2025 net interest income with the market.

Itau, Latin America’s largest private lender by total assets, reported an 11.9 billion reais ($2.20 billion) net recurring profit for the July-September period, matching the expectations of analysts polled by LSEG.

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Returns on equity stood at 23.3%, increasing 0.6 percentage points from the same period a year earlier, but stable from the previous quarter.

The lender revised up its yearly projection for net interest income with the market to between 3 billion reais ($555.2 million) and 3.5 billion reais ($647.7 million), from a previous estimate of between 1 billion and 3 billion reais.

“This revision mostly reflects the more positive dynamics of the trading desk accumulated results compared to the original expectation,” Itau said, adding that all other 2025 projections remain unchanged.

Itau’s total credit portfolio reached 1.4 trillion reais at the end of September, up 6.4% year-on-year.

($1 = 5.4039 reais)

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