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v3.20.1

Post-employment benefits (Tables) | 12 Months Ended
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Dec. 31, 2019
Text Block [Abstract] |
Summary of Main Assumptions Used in Actuarial Valuation of Retirement Plans | The main demographic assumptions comprise: mortality table and turnover of active participants, while the main financial assumptions include: discount rate, future salary increases, growth of plan benefits and inflation.
|  | 12/31/2019 |  | 12/31/2018
Discount rate (1) |  | 7.64% p.a. |  | 9.72% p.a.
Mortality table (2) Turnover |  | AT-2000 Itaú Experience 2008/2010 (3) |  | AT-2000 Itaú Experience 2008/2010 (3)
Future salary growth |  | 4.00% to 7.12 % p.a. |  | 4.00% to 7.12 % p.a.
Growth of the pension fund benefits |  | 4.00 % p.a. |  | 4.00 % p.a.
Inflation |  | 4.00 % p.a. |  | 4.00 % p.a.
Actuarial method |  | Projected Unit Credit |  | Projected Unit Credit
(1) | Determined based on market yield relating to National Treasury Notes (NTN-B) and compatible with the economic scenario observed on the balance sheet closing date, considering the volatility of interest market and models used.
(2) | Correspond to those disclosed by SOA – “Society of Actuaries”, that reflect a 10% increase in the probabilities of survival regarding the respective basic tables.
( 3) | Updated to the new expectation of mass behavior.
Retired plans sponsored by foreign subsidiaries – Banco Itaú (Suisse) S.A., Itaú CorpBanca Colombia S.A. and PROSERV - Promociones y Servicios S.A. de C.V. – are structured as Defined Benefit modality and adopt actual assumptions adequate to masses of participants and the economic scenario of each country.
Summary of Allocation of Assets by Category Segmented into Quoted and Not Quoted in Active Market | Below is a table with the allocation of assets by category, segmented into Quoted in an Active Market and Not Quoted in an Active Market:
|  | Fair value |  |  | % Allocation |
Types |  | 12/31/2019 |  |  | 12/31/2018 |  |  | 12/31/2019 |  |  | 12/31/2018 |
Fixed income securities |  |  | 20,672 |  |  |  | 18,065 |  |  |  | 90.93 | % |  |  | 96.05 | %
Quoted in an active market |  |  | 20,366 |  |  |  | 17,775 |  |  |  | 89.59 | % |  |  | 94.51 | %
Non quoted in an active market |  |  | 306 |  |  |  | 290 |  |  |  | 1.34 | % |  |  | 1.54 | %
Variable income securities |  |  | 1,392 |  |  |  | 24 |  |  |  | 6.12 | % |  |  | 0.13 | %
Quoted in an active market |  |  | 1,384 |  |  |  | 18 |  |  |  | 6.09 | % |  |  | 0.09 | %
Non quoted in an active market |  |  | 8 |  |  |  | 6 |  |  |  | 0.03 | % |  |  | 0.04 | %
Structured investments |  |  | 65 |  |  |  | 59 |  |  |  | 0.29 | % |  |  | 0.31 | %
Quoted in an active market |  |  | — |  |  |  | 1 |  |  |  | 0.00 | % |  |  | 0.01 | %
Non quoted in an active market |  |  | 65 |  |  |  | 58 |  |  |  | 0.29 | % |  |  | 0.30 | %
Real estate |  |  | 529 |  |  |  | 578 |  |  |  | 2.33 | % |  |  | 3.07 | %
Loans to participants |  |  | 74 |  |  |  | 82 |  |  |  | 0.33 | % |  |  | 0.44 | %
Total |  |  | 22,732 |  |  |  | 18,808 |  |  |  | 100.00 | % |  |  | 100.00 | %
Summary of Calculation of Net Amount Recognized in Balance Sheet, Corresponding to Defined Benefit Plan |
|  | 12/31/2019 |
|  | BD and CV Plans |  |  | CD Plans |  |  | Other post- employment benefits |  |  | Total |
1 - Net assets of the plans |  |  | 22,732 |  |  |  | 1,475 |  |  |  | — |  |  |  | 24,207 |
2 - Actuarial liabilities |  |  | (19,713 | ) |  |  | — |  |  |  | (967 | ) |  |  | (20,680 | )
3 - Asset restriction (*) |  |  | (3,761 | ) |  |  | (849 | ) |  |  | — |  |  |  | (4,610 | )
4 - Net amount recognized in the balance sheet |  |  | (742 | ) |  |  | 626 |  |  |  | (967 | ) |  |  | (1,083 | )
Amount recognized in Assets (Note 18a) |  |  | 91 |  |  |  | 626 |  |  |  | — |  |  |  | 717 |
Amount recognized in Liabilities (Note 18b) |  |  | (833 | ) |  |  | — |  |  |  | (967 | ) |  |  | (1,800 | )
|  | 12/31/2018 |
|  | BD and CV Plans |  |  | CD Plans |  |  | Other post- employment benefits |  |  | Total |
1 - Net assets of the plans |  |  | 18,808 |  |  |  | 1,604 |  |  |  | — |  |  |  | 20,412 |
2 - Actuarial liabilities |  |  | (15,493 | ) |  |  | — |  |  |  | (282 | ) |  |  | (15,775 | )
3 - Asset restriction (*) |  |  | (3,664 | ) |  |  | (939 | ) |  |  | — |  |  |  | (4,603 | )
4 - Net amount recognized in the balance sheet |  |  | (349 | ) |  |  | 665 |  |  |  | (282 | ) |  |  | 34 |
Amount recognized in Assets (Note 18a) |  |  | 66 |  |  |  | 665 |  |  |  | — |  |  |  | 731 |
Amount recognized in Liabilities (Note 18b) |  |  | (415 | ) |  |  | — |  |  |  | (282 | ) |  |  | (697 | )
(*) | Corresponds to the excess of the present value of the available economic benefit, in conformity with paragraph 58 of IAS 19.
Summary of Change in Net Amount Recognized in Balance Sheet | f) Change in the net amount recognized in the balance sheet
|  | 12/31/2019 |
|  | BD and CV plans |  |  | CD plans |  |  | Other post- employment benefits Liabilities |  |  | Total Recognized amount |
|  | Net assets |  |  | Actuarial liabilities |  |  | Asset ceiling |  |  | Recognized amount |  |  | Pension plan fund |  |  | Asset ceiling |  |  | Recognized amount |
Amounts at the beginning of the period |  |  | 18,808 |  |  |  | (15,493 | ) |  |  | (3,664 | ) |  |  | (349 | ) |  |  | 1,604 |  |  |  | (939 | ) |  |  | 665 |  |  |  | (282 | ) |  |  | 34 |
Amounts recognized in income (loss) (1+2+3) |  |  | 1,769 |  |  |  | (1,514 | ) |  |  | (355 | ) |  |  | (100 | ) |  |  | 151 |  |  |  | (91 | ) |  |  | 60 |  |  |  | (459 | ) |  |  | (499 | )
1 - Cost of current service |  |  | — |  |  |  | (75 | ) |  |  | — |  |  |  | (75 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (75 | )
2 - Cost of past service |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (418 | ) |  |  | (418 | )
3 - Net interest (1) |  |  | 1,769 |  |  |  | (1,439 | ) |  |  | (355 | ) |  |  | (25 | ) |  |  | 151 |  |  |  | (91 | ) |  |  | 60 |  |  |  | (41 | ) |  |  | (6 | )
Amounts recognized in stockholders’ equity (4+5+6) |  |  | 3,239 |  |  |  | (3,884 | ) |  |  | 258 |  |  |  | (387 | ) |  |  | (178 | ) |  |  | 181 |  |  |  | 3 |  |  |  | (261 | ) |  |  | (645 | )
4 - Effects on asset ceiling |  |  | — |  |  |  | — |  |  |  | 384 |  |  |  | 384 |  |  |  | — |  |  |  | 176 |  |  |  | 176 |  |  |  | — |  |  |  | 560 |
5 - Remeasurements (2) (3) |  |  | 3,245 |  |  |  | (3,907 | ) |  |  | (126 | ) |  |  | (788 | ) |  |  | (178 | ) |  |  | 5 |  |  |  | (173 | ) |  |  | (261 | ) |  |  | (1,222 | )
6 - Exchange variation |  |  | (6 | ) |  |  | 23 |  |  |  | — |  |  |  | 17 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17 |
Other (7+8+9+10) |  |  | (1,084 | ) |  |  | 1,178 |  |  |  | — |  |  |  | 94 |  |  |  | (102 | ) |  |  | — |  |  |  | (102 | ) |  |  | 35 |  |  |  | 27 |
7 - Receipt by allocation of funds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
8 - Benefits paid |  |  | (1,178 | ) |  |  | 1,178 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35 |  |  |  | 35 |
9 - Contributions and investments from sponsor |  |  | 84 |  |  |  | — |  |  |  | — |  |  |  | 84 |  |  |  | (102 | ) |  |  | — |  |  |  | (102 | ) |  |  | — |  |  |  | (18 | )
10 - Contributions from parcipants |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 10 |
Amounts at end of the period |  |  | 22,732 |  |  |  | (19,713 | ) |  |  | (3,761 | ) |  |  | (742 | ) |  |  | 1,475 |  |  |  | (849 | ) |  |  | 626 |  |  |  | (967 | ) |  |  | (1,083 | )
|  | 12/31/2018 |
|  | BD and CV plans |  |  | CD plans |  |  | Other post- employment benefits Liabilities |  |  | Total Recognized amount |
|  | Net assets |  |  | Actuarial liabilities |  |  | Asset ceiling |  |  | Recognized amount |  |  | Pension plan fund |  |  | Asset ceiling |  |  | Recognized amount |
Amounts at the beginning of the period |  |  | 17,588 |  |  |  | (14,491 | ) |  |  | (3,217 | ) |  |  | (120 | ) |  |  | 1,634 |  |  |  | (912 | ) |  |  | 722 |  |  |  | (257 | ) |  |  | 345 |
Amounts recognized in income (loss) (1+2+3) |  |  | 1,700 |  |  |  | (1,454 | ) |  |  | (321 | ) |  |  | (75 | ) |  |  | 157 |  |  |  | (90 | ) |  |  | 67 |  |  |  | (25 | ) |  |  | (33 | )
1 - Cost of current service |  |  | — |  |  |  | (69 | ) |  |  | — |  |  |  | (69 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (69 | )
2 - Cost of past service |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
3 - Net interest (1) |  |  | 1,700 |  |  |  | (1,385 | ) |  |  | (321 | ) |  |  | (6 | ) |  |  | 157 |  |  |  | (90 | ) |  |  | 67 |  |  |  | (25 | ) |  |  | 36 |
Amounts recognized in stockholders’ equity (4+5+6) |  |  | 580 |  |  |  | (688 | ) |  |  | (126 | ) |  |  | (234 | ) |  |  | (102 | ) |  |  | 63 |  |  |  | (39 | ) |  |  | (19 | ) |  |  | (292 | )
4 - Effects on asset ceiling |  |  | — |  |  |  | — |  |  |  | (126 | ) |  |  | (126 | ) |  |  | — |  |  |  | 63 |  |  |  | 63 |  |  |  | — |  |  |  | (63 | )
5 - Remeasurements (2) (3) |  |  | 566 |  |  |  | (683 | ) |  |  | — |  |  |  | (117 | ) |  |  | (102 | ) |  |  | — |  |  |  | (102 | ) |  |  | (19 | ) |  |  | (238 | )
6 - Exchange variation |  |  | 14 |  |  |  | (5 | ) |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |
Other (7+8+9+10) |  |  | (1,060 | ) |  |  | 1,140 |  |  |  | — |  |  |  | 80 |  |  |  | (85 | ) |  |  | — |  |  |  | (85 | ) |  |  | 19 |  |  |  | 14 |
7 - Receipt by allocation of funds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
8 - Benefits paid |  |  | (1,140 | ) |  |  | 1,140 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19 |  |  |  | 19 |
9 - Contributions and investments from sponsor |  |  | 69 |  |  |  | — |  |  |  | — |  |  |  | 69 |  |  |  | (85 | ) |  |  | — |  |  |  | (85 | ) |  |  | — |  |  |  | (16 | )
10 - Contributions from parcipants |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11 |
Amounts at end of the period |  |  | 18,808 |  |  |  | (15,493 | ) |  |  | (3,664 | ) |  |  | (349 | ) |  |  | 1,604 |  |  |  | (939 | ) |  |  | 665 |  |  |  | (282 | ) |  |  | 34 |
(1) | Corresponds to the amount calculated at 01/01/2019 based on the initial amount (Net Assets, Actuarial Liabilities and Restriction of Assets), taking into account the estimated amount of payments/ receipts of benefits/ contributions, multiplied by the discount rate of 9.72% p.a.(at 01/01/2018 the rate used was 9.98% p.a.);
(2) | Remeasurements recorded in net assets and asset ceiling correspond to the income earned above/below the expected return rate;
(3) | The actual return on assets amounted to R$ 5,014 (R$ 2,226 at 12/31/2018).
Summary of Defined Benefit Contribution | g) Defined benefit contribution
|  | Estimated contribution |  |  | Contributions made |
|  | 2020 |  |  | 01/01 to 12/31/2019 |  |  | 01/01 to 12/31/2018 |
Retirement plan - FIU |  |  | 52 |  |  |  | 45 |  |  |  | 58 |
Retiremente plan - FUNBEP |  |  | 5 |  |  |  | 8 |  |  |  | 11 |
Total |  |  | 57 |  |  |  | 53 |  |  |  | 69 |
Summary of Maturity Profile of Defined Benefit Liabilities | h) Maturity profile of defined benefit liabilities
|  | Duration (*) |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 to 2029 |
Pension plan - FIU |  |  | 11.89 |  |  |  | 837 |  |  |  | 866 |  |  |  | 894 |  |  |  | 922 |  |  |  | 952 |  |  |  | 5,190 |
Pension plan - FUNBEP |  |  | 10.69 |  |  |  | 425 |  |  |  | 439 |  |  |  | 454 |  |  |  | 469 |  |  |  | 483 |  |  |  | 2,582 |
Other post-employment benefits |  |  | 9.25 |  |  |  | 26 |  |  |  | 26 |  |  |  | 26 |  |  |  | 26 |  |  |  | 26 |  |  |  | 126 |
Total |  |  |  |  |  |  | 1,288 |  |  |  | 1,331 |  |  |  | 1,374 |  |  |  | 1,417 |  |  |  | 1,461 |  |  |  | 7,898 |
(*) | Average duration of plan’s actuarial liabilities.
Summary of Sensitivity of Defined Benefit Obligation | The results obtained are shown in the table below:
|  | BD and CV retirement plans |  |  | Other post-employment benefits |
Main assumptions |  | Present value of liability |  |  | Income |  |  | Stockholders´ equity (Other Comprehensive Income) (*) |  |  | Present value of liability |  |  | Income |  |  | Stockholders´ equity (Other Comprehensive Income) (*) |
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 0.5% |  |  | (977 | ) |  |  | — |  |  |  | 319 |  |  |  | (36 | ) |  |  | — |  |  |  | 36 |
Decrease by 0.5% |  |  | 1,104 |  |  |  | — |  |  |  | (421 | ) |  |  | 41 |  |  |  | — |  |  |  | (41 | )
Mortality rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 5% |  |  | (258 | ) |  |  | — |  |  |  | 88 |  |  |  | (13 | ) |  |  | — |  |  |  | 13 |
Decrease by 5% |  |  | 357 |  |  |  | — |  |  |  | (94 | ) |  |  | 17 |  |  |  | — |  |  |  | (17 | )
Medical inflation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase by 1% |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 87 |  |  |  | — |  |  |  | (87 | )
Decrease by 1% |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (69 | ) |  |  | — |  |  |  | 69 |
(*) | Net of effects of asset ceiling

X
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