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6 months ago
Itaú's Setubal sees new payout policy 'maintained for years'
February 8, 2017 / 1:35 PM / 6 months ago

Itaú's Setubal sees new payout policy 'maintained for years'

SAO PAULO, Feb 8 (Reuters) - Itaú Unibanco Holding SA expects to maintain a new policy of distributing between 35 percent and 45 percent of annual profit "for a few years," Chief Executive Officer Roberto Setubal said on Wednesday, a sign Brazil's No. 1 bank by market value has enough capital buffer to keep rewarding shareholders.

Itaú on Tuesday disclosed the new policy, aimed at helping return excess capital to shareholders. Since 2008, the bank had paid an average 31 percent payout ratio. (Reporting by Guillermo Parra-Bernal)

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