Itaú (ITUB4) has announced the launch of Pix in batches targeting small and medium enterprises (SMEs). With this option, it is possible to make installment payments that are immediately credited to the beneficiary's account.
The innovation is already available to some corporate customers through the app and will be expanded to include all customers who meet credit criteria by the end of this month.
When choosing this payment method, the amount is credited immediately to the recipient, while the payer can pay the transaction in up to 36 installments, without having to use a credit card limit.
The minimum transaction amount is R$ 1,000, installment terms and applicable fees vary according to the customer profile.
It is worth noting that Pix is an instant payment system developed by the Brazilian Central Bank. It allows transfers and payments to be made quickly and securely and is available 24 hours a day, every day of the year, including weekends and public holidays. With PIX, transactions are processed in seconds, facilitating the movement of funds between bank accounts at different financial institutions.
ITUB4
In the fourth quarter of 2023, the bank reported net management profits of R$9,401 billion, an increase of 22.6% compared to the same period in 2022 and a growth of 4% compared to the previous quarter.
This annual performance was driven by the growth of the bank’s credit portfolio and higher margins in managing liabilities. Itaú is also seeing increased margins with clients due to re-pricing on own working capital. Furthermore, service revenues rose, especially in the cards segment.
In the Q4 2022 balance sheet, Itao allocated R$1.3 billion to cover its exposure to loans from Americana, which entered the judicial recovery phase in January 2023. This effect reduces the basis of comparison.
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.