Brazil's Itau posts 8% rise in recurring profit, cuts fee and insurance outlook

Additionally, Itau Unibanco cut its projection for fee revenue and insurance results this year, now estimating growth of 2% to 5%, versus a previously expected increase of 5% to 9%.

$1 = 5.1255 reais

Brazilian lender Itau Unibanco posted on Tuesday an increase of about 8% in its second-quarter recurring net profit from a year earlier, to 12.41 billion reais ($2.42 billion), compared with 12.53 billion reais expected by analysts polled by LSEG.