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v3.20.1

Stockholders' equity | 12 Months Ended
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Dec. 31, 2019
Text Block [Abstract] |
Stockholders' equity | Note 19 – Stockholders’ equity
a) | Capital
Capital is represented by 9,804,135,348 book-entry shares with no par value, of which 4,958,290,359 are common shares and 4,845,844,989 are preferred shares with no voting rights, but with tag-along rights, in the event of transfer of control, for inclusion in a public offering of shares, assuring them of a price equal to eighty per cent (80%) of the amount paid per voting share in the controlling block, and a dividend at least equal to that of the common shares. Meetings of the Board of Directors held on 02/22/2018, approved the cancellation of 14,424,206 of common shares of own issue and held in treasury, with no change in capital, by capitalizing amounts recorded in Revenue Reserves – Statutory Reserve. The Extraordinary Stockholders’ Meeting (EGM) held on July 27, 2018 approved a 50% split in the Company’s capital and the process was approved by BACEN on October 31, 2018. The new shares were included in the share position on November 26, 2018. Thus, for easier comparability, the number of shares shown in this item are post-split. A breakdown and changes in paid-in capital at the beginning and end of the period are shown below:
|  | 12/31/2019 |
|  | Number |  |  |  |
|  | Common |  |  | Preferred |  |  | Total |  |  | Amount |
Residents in Brazil at 12/31/2018 |  |  | 4,928,076,320 |  |  |  | 1,609,055,166 |  |  |  | 6,537,131,486 |  |  |  | 64,776 |
Residents abroad at 12/31/2018 |  |  | 30,214,039 |  |  |  | 3,236,789,823 |  |  |  | 3,267,003,862 |  |  |  | 32,372 |
Shares of capital stock at 12/31/2018 |  |  | 4,958,290,359 |  |  |  | 4,845,844,989 |  |  |  | 9,804,135,348 |  |  |  | 97,148 |
Shares of capital stock at 12/31/2019 |  |  | 4,958,290,359 |  |  |  | 4,845,844,989 |  |  |  | 9,804,135,348 |  |  |  | 97,148 |
Residents in Brazil at 12/31/2019 |  |  | 4,931,023,416 |  |  |  | 1,665,657,332 |  |  |  | 6,596,680,748 |  |  |  | 65,366 |
Residents abroad at 12/31/2019 |  |  | 27,266,943 |  |  |  | 3,180,187,657 |  |  |  | 3,207,454,600 |  |  |  | 31,782 |
Treasury shares at 12/31/2018 (1) |  |  | — |  |  |  | 83,614,426 |  |  |  | 83,614,426 |  |  |  | (1,820 | )
Result from delivery of treasury shares |  |  | — |  |  |  | (25,080,841 | ) |  |  | (25,080,841 | ) |  |  | 546 |
Treasury shares at 12/31/2019 (1) |  |  | — |  |  |  | 58,533,585 |  |  |  | 58,533,585 |  |  |  | (1,274 | )
Outstanding shares at 12/31/2019 |  |  | 4,958,290,359 |  |  |  | 4,787,311,404 |  |  |  | 9,745,601,763 |  |  |  |  |
Outstanding shares at 12/31/2018 |  |  | 4,958,290,359 |  |  |  | 4,762,230,563 |  |  |  | 9,720,520,922 |  |  |  |  |
|  | 12/31/2018 |
|  | Number |  |  |  |
|  | Common |  |  | Preferred |  |  | Total |  |  | Amount |
Residents in Brazil at 12/31/2017 |  |  | 3,299,073,506 |  |  |  | 1,116,291,341 |  |  |  | 4,415,364,847 |  |  |  | 65,482 |
Residents abroad at 12/31/2017 |  |  | 20,877,606 |  |  |  | 2,114,271,985 |  |  |  | 2,135,149,591 |  |  |  | 31,666 |
Shares of capital stock at 12/31/2017 |  |  | 3,319,951,112 |  |  |  | 3,230,563,326 |  |  |  | 6,550,514,438 |  |  |  | 97,148 |
Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 |  |  | 1,652,763,453 |  |  |  | 1,615,281,663 |  |  |  | 3,268,045,116 |  |  |  | — |
(-) Cancellation of Shares – Meeting of the Board of Directors 02/22/2018 |  |  | (14,424,206 | ) |  |  | — |  |  |  | (14,424,206 | ) |  |  | — |
Shares of capital stock at 12/31/2018 |  |  | 4,958,290,359 |  |  |  | 4,845,844,989 |  |  |  | 9,804,135,348 |  |  |  | 97,148 |
Residents in Brazil at 12/31/2018 |  |  | 4,928,076,320 |  |  |  | 1,609,055,166 |  |  |  | 6,537,131,486 |  |  |  | 64,776 |
Residents abroad at 12/31/2018 |  |  | 30,214,039 |  |  |  | 3,236,789,823 |  |  |  | 3,267,003,862 |  |  |  | 32,372 |
Treasury shares at 12/31/2017 (1) |  |  | 14,424,206 |  |  |  | 71,459,714 |  |  |  | 85,883,920 |  |  |  | (2,743 | )
Purchase of shares |  |  | — |  |  |  | 13,100,000 |  |  |  | 13,100,000 |  |  |  | (510 | )
(-) Cancellation of Shares – Meeting of the Board of Directors 02/22/2018 |  |  | (14,424,206 | ) |  |  | — |  |  |  | (14,424,206 | ) |  |  | 534 |
Result from delivery of treasury shares |  |  | — |  |  |  | (29,623,265 | ) |  |  | (29,623,265 | ) |  |  | 899 |
Stock Split – ESM of 07/27/2018 – Approved on 10/31/2018 |  |  | — |  |  |  | 28,677,977 |  |  |  | 28,677,977 |  |  |  | — |
Treasury shares at 12/31/2018 (1) |  |  | — |  |  |  | 83,614,426 |  |  |  | 83,614,426 |  |  |  | (1,820 | )
Outstanding shares at 12/31/2018 |  |  | 4,958,290,359 |  |  |  | 4,762,230,563 |  |  |  | 9,720,520,922 |  |  |  |  |
Outstanding shares at 12/31/2017 (2) |  |  | 4,958,290,359 |  |  |  | 4,738,655,417 |  |  |  | 9,696,945,776 |  |  |  |  |
(1) | Own shares, purchased based on authorization of the Board of Directors, to be held in Treasury for subsequent cancellation of replacement in the market.
(2) | For better comparability, outstanding shares in the period of 12/31/2017 were adjusted by the split approved on 10/31/2018.
Below is the average cost of treasury shares and their market price in reais. On 2019, there was no acquisition of treasury shares.
|  | 01/01 to 12/31/2019 |
Cost / market value |  | Common |  |  | Preferred |
Average cost |  |  | — |  |  |  | 21.76 |
Market value at 12/31/2019 |  |  | 32.03 |  |  |  | 37.10 |
|  | 01/01 to 12/31/2018 |
Cost / market value |  | Common |  |  | Preferred |
Minimum |  |  | — |  |  |  | 37.45 |
Weighted average |  |  | — |  |  |  | 38.95 |
Maximum |  |  | — |  |  |  | 40.06 |
Treasury shares |  |  |  |  |  |  |  |
Average cost |  |  | — |  |  |  | 21.76 |
Market value at 12/31/2018 |  |  | 30.05 |  |  |  | 35.50 |
b) | Dividends
Shareholders are entitled to a mandatory minimum dividend in each fiscal year, corresponding to 25% of adjusted net income, as set forth in the Bylaws. Common and preferred shares participate equally in income distributed, after common shares have received dividends equal to the minimum annual priority dividend payable to preferred shares (R$ 0.022 non-cumulative per share). The calculation of the monthly advance of the mandatory minimum dividend is based on the share position on the last day of the preceding month, and payment is made on the first business day of the subsequent month, amounting to R$ 0.015 per share. l - Calculation of dividends and interest on capital
|  | 12/31/2019 |  |  | 12/31/2018 |  |  | 12/31/2017 |
Statutory net income |  |  | 26,712 |  |  |  | 21,945 |  |  |  | 21,108 |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
(-) Legal reserve - 5% |  |  | (1,336 | ) |  |  | (1,097 | ) |  |  | (1,055 | )
Dividend calculation basis |  |  | 25,376 |  |  |  | 20,848 |  |  |  | 20,053 |
Minimun mandatory dividend - 25% |  |  | 6,344 |  |  |  | 5,212 |  |  |  | 5,013 |
Dividends and Interest on Capital Paid / Accrued / Identified |  |  | 18,777 |  |  |  | 22,437 |  |  |  | 17,558 |
ll - Stockholders’ compensation
|  | 12/31/2019 |
|  | Gross value per share (R$) |  |  | Gross |  |  | WHT (With holding tax) |  |  | Net |
Paid / prepaid |  |  |  |  |  |  | 9,274 |  |  |  | — |  |  |  | 9,274 |
Dividends - 11 monthly installments from February to December 2019 |  |  | 0.0150 |  |  |  | 1,606 |  |  |  | — |  |  |  | 1,606 |
Dividends - paid on 08/23/2019 |  |  | 0.7869 |  |  |  | 7,668 |  |  |  | — |  |  |  | 7,668 |
Accrued (Recorded in Other Liabilities) |  |  |  |  |  |  | 512 |  |  |  | (55 | ) |  |  | 457 |
Dividends - 1 monthly installment paid on 01/02/2020 |  |  | 0.0150 |  |  |  | 146 |  |  |  | — |  |  |  | 146 |
Interest on capital - credited on 12/19/2019 to be paid until 04/30/2020 |  |  | 0.0376 |  |  |  | 366 |  |  |  | (55 | ) |  |  | 311 |
Identified in Profit Reserve In Stockholders’ Equity |  |  | 1.0067 |  |  |  | 9,811 |  |  |  | (765 | ) |  |  | 9,046 |
Total from 01/01 to 12/31/2019 |  |  |  |  |  |  | 19,597 |  |  |  | (820 | ) |  |  | 18,777 |
|  | 12/31/2018 |
|  | Gross value per share (R$) |  |  | Gross |  |  | WHT (With holding tax) |  |  | Net |
Paid / prepaid |  |  |  |  |  |  | 5,921 |  |  |  | (122 | ) |  |  | 5,799 |
Dividends - 11 monthly installments from February to December 2018 |  |  | 0,0150 |  |  |  | 1,069 |  |  |  | — |  |  |  | 1,069 |
Dividends - paid on 08/30/2018 |  |  | 0.6240 |  |  |  | 4,041 |  |  |  | — |  |  |  | 4,041 |
Interest on capital - paid on 08/30/2018 |  |  | 0.1252 |  |  |  | 811 |  |  |  | (122 | ) |  |  | 689 |
Accrued (Recorded in Other Liabilities) |  |  |  |  |  |  | 248 |  |  |  | (15 | ) |  |  | 233 |
Dividends - 1 monthly installment paid on 01/02/2019 |  |  | 0,0150 |  |  |  | 145 |  |  |  | — |  |  |  | 145 |
Interest on capital - credited on 12/27/2018 to be paid until 04/30/2019 |  |  | 0.0106 |  |  |  | 103 |  |  |  | (15 | ) |  |  | 88 |
Identified in Profit Reserve In Stockholders’ Equity |  |  | 1.8001 |  |  |  | 17,498 |  |  |  | (1,093 | ) |  |  | 16,405 |
Total from 01/01 to 12/31/2018 |  |  |  |  |  |  | 23,667 |  |  |  | (1,230 | ) |  |  | 22,437 |
|  | 12/31/2017 |
|  | Gross value per share (R$) |  |  | Gross |  |  | WHT (With holding tax) |  |  | Net |
Paid / prepaid |  |  |  |  |  |  | 3,666 |  |  |  | (389 | ) |  |  | 3,277 |
Dividends - 11 monthly installments from February to December 2017 |  |  | 0,0150 |  |  |  | 1,074 |  |  |  | — |  |  |  | 1,074 |
Interest on capital - paid on 08/25/2017 |  |  | 0,3990 |  |  |  | 2,592 |  |  |  | (389 | ) |  |  | 2,203 |
Accrued (Recorded in Other Liabilities) |  |  |  |  |  |  | 1,877 |  |  |  | (140 | ) |  |  | 1,737 |
Dividends - 1 monthly installment paid on 01/02/2018 |  |  | 0,0150 |  |  |  | 98 |  |  |  | — |  |  |  | 98 |
Dividends provision |  |  | 0.1304 |  |  |  | 843 |  |  |  | — |  |  |  | 843 |
Interest on capital, credited on 12/28/2017 to be paid until 04/30/2018 |  |  | 0.1445 |  |  |  | 936 |  |  |  | (140 | ) |  |  | 796 |
Identified in Revenue Reserve In Stockholders’ Equity |  |  | 2.1126 |  |  |  | 13,658 |  |  |  | (1,114 | ) |  |  | 12,544 |
Total from 01/01 to 12/31/2017 |  |  |  |  |  |  | 19,201 |  |  |  | (1,643 | ) |  |  | 17,558 |
c) | Capital reserves and profit reserves
l - Additional paid-in capital Additional paid-in capital corresponds to: (i) the difference between the sale price of treasury shares and the average cost of such shares, and (ii) the yield expenses recognized in accordance with the stock option plan and variable compensation. ll - Appropriated reserves
|  | 12/31/2019 |  |  | 12/31/2018 |  |  | 12/31/2017 |
Capital reserves |  |  | 285 |  |  |  | 285 |  |  |  | 285 |
Premium on subscription of shares |  |  | 284 |  |  |  | 284 |  |  |  | 284 |
Reserves from tax incentives, restatement of equity securities and other |  |  | 1 |  |  |  | 1 |  |  |  | 1 |
Profit reserves |  |  | 12,663 |  |  |  | 13,195 |  |  |  | 12,214 |
Legal (1) |  |  | 11,326 |  |  |  | 9,989 |  |  |  | 8,892 |
Statutory (2) |  |  | 3,043 |  |  |  | (2,775 | ) |  |  | 589 |
Corporate reorganizations (Note 2.4 a IV) |  |  | (11,517 | ) |  |  | (11,517 | ) |  |  | (10,925 | )
Special profit reserves (3) |  |  | 9,811 |  |  |  | 17,498 |  |  |  | 13,658 |
Total reserves at parent company |  |  | 12,948 |  |  |  | 13,480 |  |  |  | 12,499 |
(1) | Its purpose is to ensure the integrity of capital, compensate loss or increase capital.
(2) | Its main purpose is to ensure the yield flow to shareholders.
(3) | Refers to Dividends or Interest on Capital declared after 12/31/2019, 12/31/2018 and 12/31/2017.
lll - Unappropriated reserves Refers to balance of net income remaining after the distribution of dividends and appropriations to statutory reserves in the statutory accounts of ITAÚ UNIBANCO HOLDING.
d) | Non-controlling interests
|  | Stockholders’ equity |  |  | Net Income |
|  | 12/31/2019 |  |  | 12/31/2018 |  |  | 01/01 to 12/31/2019 |  |  | 01/01 to 12/31/2018 |
Itaú CorpBanca (Note 3) |  |  | 11,270 |  |  |  | 11,645 |  |  |  | 504 |  |  |  | 539 |
Itaú CorpBanca Colômbia S.A. (Note 3) |  |  | 406 |  |  |  | 1,268 |  |  |  | (16 | ) |  |  | (2 | )
Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento |  |  | 446 |  |  |  | 364 |  |  |  | 131 |  |  |  | 105 |
Luizacred S.A. Soc. Cred. Financiamento Investimento |  |  | 295 |  |  |  | 288 |  |  |  | 20 |  |  |  | 44 |
Other |  |  | 123 |  |  |  | 119 |  |  |  | 61 |  |  |  | 46 |
Total |  |  | 12,540 |  |  |  | 13,684 |  |  |  | 700 |  |  |  | 732 |

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