Matheus Guimarães's questions to Itau Unibanco Holding SA (ITUB) leadership • Q1 2025
Question
Matheus Guimarães from XP inquired about Itaú's cost of funding strategy in a competitive environment and the potential subordination risk to the credit card business from the new private payroll loan product.
Answer
CEO Milton Maluhy Filho explained that the bank's primary focus is on strengthening the client franchise and lifetime value, not just optimizing funding costs in the short term. Regarding the second point, he views the private payroll loan as a superior and cheaper financing product for consumers, which should lead to a healthier credit dynamic and potentially lower delinquency compared to revolving credit card debt.