The opening of Casa Moreira Salles, in Pocos de Caldas, and the Central Bank of Credit, in São Paulo. Pioneering moments of the Brazilian banking system.
The key figure Walther Moreira Salles, the family’s patriach’s son and successor, steps in with Pedro di Perna, an important character in Unibanco’s history. The society that will generate Banco Moreira Salles is built.
The Central Bank of Credit settles with persistence, values and hard work in Sao Paulo on track to become the largest metropolis of the continent. So begins the business trajectory of a young engineer who will lead the expansion of that financial institution: Olavo Setubal.
In the 1940s, with an incipient banking system, Moreira Salles Bank and the Central Bank of Credit chose the path of growth. Under the leadership of the new generation, the banking business becomes more technical and rigorous.
With the expansion of the network, a need to upgrade the service begins, bringing dynamism to the banking system. Moreira Salles Bank is established as one of the major Brazilian banks.
Olavo Setubal instituted drastic administrative changes in the Federal Credit Bank, meanwhile Eudoro Villela searched in the "bride’s guide" for financial institutions that could be associated with the expansion project of the institution.
In the mid-1970s, Itaú, Unibanco and Citibank teamed up in order to purchase Credicard. That would be a learning experience for the 2008 merger. Also at this time, the technological modernization of banks accelerates - electronic banking appears.
It is hard to forget the nightmare of hyperinflation. But little is said about how the banks worked at that time. At Itaú, the vocation for constant innovation has resulted in technological development of more agile banking systems.
The banks needed to restructure deeply to leave behind the vices of inflation. Some institutions did not survive. Itaú and Unibanco stood out due to the austerity with which they underwent the necessary changes.
The 1990s. A new cycle of expansion. As a multi-purpose bank, Unibanco also grows and expands in the insurance industry. The renewal of Banco Moreira Salles begins.
Banks diversify their products. At the same time, the expansion continues. Itaú purchases important state banks during the privatization process. At Itaú and Unibanco it's time of succession. Roberto Setubal and Pedro Moreira Salles step in with their spirit of leadership.
Initiatives in promoting art and culture are common points in the trajectories of Itaú and Unibanco: with rich and diverse collections, as well as extensive record programming, the institutions guarantee access to famous works and new artists.
In the new millennium, Itaú and Unibanco, rushed to growth in the economic turmoil of the global market. New acquisitions and diversification of financial products mark the search for greater competitiveness.
The 2008 crisis and the merger between Itaú and Unibanco. Previous events and developments in the largest operation of its kind in the country, which was reflected as a strengthening of the Brazilian economy amid the global crisis.
Itaú Unibanco's actions to improve society. Corporate responsibility and sustainability in culture, education, sport and urban mobility.
Itaú Unibanco has a history of shared value with the Brazilian society, since it believes that its trajectory and growth cannot be detached from the evolution of the country. It is by solid, ethical and respected means that the bank works to keep being the best choice for its customers.