1945
Banco Itaú S.A. was founded in 1945, as the Banco Central de Crédito, later to become the Banco Federal de Crédito.
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The sixties|
After a twenty-year period of organic growth, as a result of the Federal Government’s modernization of the Brazilian financial system, Itaú Unibanco began a period between 1964 and 1969 of mergers, the first of which between the Banco Federal de Crédito and the Banco Itaú. Mergers with Banco Sul Americano and Banco da América were to follow. |
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The seventies|
This was a period of rapid growth not only in organic terms but also through successive acquisitions of Banco Alliança, Banco Português do Brasil and Banco União Comercial. At the end of the decade, Itaú Unibanco took its first steps towards an international presence with the opening of branches in New York and Buenos Aires. |
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The eightiesIn a politically and economically disturbed environment, the Bank adopted a conservative stance, its growth being almost entirely of an organic nature. During the decade, Itaú Unibanco acquired only one small bank, Banco Pinto de Magalhães. At the end of the period, Itaú Unibanco was one of the first to transform itself into a multiple bank, thus legally formalizing an internal organization that had already been evolving since the seventies. However, it was in the eighties that Itaú Unibanco consolidated its position as the "Electronic Bank", evidence of its priority in adopting state of the art technology.
The nineties|
The period began with a new organizational cycle, the roots of which lay in the change in the competitive environment and a new domestic leadership, factors which have prevailed to the present. The decade saw the formation of the Bank’s new infrastructure which was to form the basis not only of another period of major expansion but also a total market segmentation. |
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1993Itaú creates its Community Support Program (Programa de Apoio Comunitário - PROAC), the forerunner of the Itaú Social Program to steer its social action program and to register its commitment to corporate citizenship.
1994Banco Itaú Europa (controlled by the Itaúsa sub-holding company Itaúsa Portugal SGPS, owned in turn by Itaúsa Holding Company), Itaú Argentina and Itaú Bank (Cayman) were founded, expanding the vision and international operations of the financial conglomerate, led nowadays by Itaú S.A.
1995Inaugurated the new headquarters of Itaú Cultural Institute which began its activities in 1989 for the purposes of broadening the dissemination of Brazilian art and culture.
A new phase of expansion through acquisition begins. Itaú Unibanco acquires BFB - Banco Francês e Brasileiro, thus reinforcing its position in the segment of high-income customers, treasury and corporate banking.
1996Strategic alliance with Bankers Trust, New York, from which originated Itaú Bankers Trust Banco de Investimento, the present Itauvest Banco de Investimento.
1997Acquired Banco Itaú Europa Luxembourg (ex-Bamerindus Luxembourg) controlled by the Itaúsa Portugal holding company. This holding company also has an important stake in Banco BPI, one of the largest banking institutions in Portugal.
1998Acquisition of Banco del Buen Ayre, subsequently incorporated into Itaú Argentina, now known as Itaú Buen Ayre, thus strengthening Itaú Unibanco´s activity in Mercosur.
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1997 to 2001 |
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In a very successful sequence of bids in privatization auctions, Itaú Unibanco acquires Banerj (Rio de Janeiro) (1997), Bemge (Minas Gerais) (1998), Banestado (Paraná) (2000) and BEG (Goiás) (2001). |
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2000 |
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The Itaú Social Foundation is created to guarantee a continual flow of resources for the implementation of projects developed and supported by the Itaú Social Program. |
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2002 |
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On November 5th, Banco Itaú S.A. (as it was known at that time) has announced its association with the controlling group of Banco BBA-Creditanstalt S.A. (BBA). Itaú and BBA have started, on March 10th, 2003, the operations of Banco Itaú-BBA S.A., the largest wholesale bank in the country, offering their corporate customers the very best products and services available in the Brazilian market. In order to better manage its businesses, by granting greater operational autonomy to its several internal segments and resulting in more transparency in the financial statements, Banco Itaú S.A. also announced at that time a corporate reorganization, which created Banco Itaú S.A.(Itaú Unibanco), a financial institution which incorporated, on March 24th, 2003, all of Banco Itaú´s shares, which, as a result, became a fully owned subsidiary company. Banco Itaú-BBA also became a partial subsidiary (95.75%) of Itaú Unibanco. |
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