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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2022
Derivatives Abstract  
Schedule of Composition of Derivative Financial Instruments Portfolio
See below the composition of the Derivative financial instruments portfolio (assets and liabilities) by type of instrument, stated fair value and maturity date.
               
  12/31/2022
  Fair value (1) % 0-30 31-90 91-180 181-365 366-720 Over 720 days
Assets                
Swaps – adjustment receivable 46,902 59.9% 4,866 1,022 1,635 2,842 8,261 28,276
Option agreements 23,671 30.3% 15,610 923 1,443 4,283 802 610
Forwards 601 0.8% 460 74 58 3 - 6
Credit derivatives 492 0.6% 3 - 10 9 9 461
NDF - Non Deliverable Forward 6,140 7.9% 1,632 1,095 926 1,220 995 272
Other Derivative Financial Instruments 402 0.5% 1 28 1 5 26 341
Total 78,208 100.0% 22,572 3,142 4,073 8,362 10,093 29,966
% per maturity date     28.9% 4.0% 5.2% 10.7% 12.9% 38.3%
                 
  12/31/2022
  Fair value (1) % 0-30 31-90 91-180 181-365 366-720 Over 720 days
Liabilities                
Swaps – adjustment payable (39,068) 50.8% (2,835) (881) (1,241) (2,992) (7,344) (23,775)
Option agreements (29,882) 38.9% (3,221) (2,973) (9,214) (12,900) (901) (673)
Forwards (65) 0.1% (55) (5) - (5) - -
Credit derivatives (604) 0.8% - - (2) (1) (7) (594)
NDF - Non Deliverable Forward (6,626) 8.6% (1,672) (1,722) (863) (1,213) (707) (449)
Other Derivative Financial Instruments (616) 0.8% (219) (37) (12) (53) (97) (198)
Total (76,861) 100.0% (8,002) (5,618) (11,332) (17,164) (9,056) (25,689)
% per maturity date     10.4% 7.3% 14.7% 22.3% 11.8% 33.5%
1) Comprises R$ 24 pegged to Libor.

  12/31/2021
  Fair value (1) % 0-30 31-90 91-180 181-365 366-720 Over 720 days
Assets                
Swaps – adjustment receivable 38,014 55.0% 1,820 370 837 2,596 7,341 25,050
Option agreements 21,252 30.8% 10,599 3,515 3,788 1,913 683 754
Forwards 3,111 4.5% 1,595 1,167 290 56 3 -
Credit derivatives 242 0.4% - - 7 8 22 205
NDF - Non Deliverable Forward 5,943 8.6% 1,193 1,207 1,109 1,053 752 629
Other Derivative Financial Instruments 483 0.7% 285 2 - 6 25 165
Total 69,045 100.0% 15,492 6,261 6,031 5,632 8,826 26,803
% per maturity date     22.4% 9.1% 8.7% 8.2% 12.8% 38.8%
                 
  12/31/2021
  Fair value (1) % 0-30 31-90 91-180 181-365 366-720 Over 720 days
Liabilities                
Swaps –  adjustment payable (34,646) 54.9% (1,562) (638) (1,057) (2,275) (6,944) (22,170)
Option agreements (22,547) 35.7% (4,086) (5,170) (7,479) (4,247) (786) (779)
Forwards (762) 1.2% (762) - - - - -
Credit derivatives (198) 0.3% - - (1) (1) (8) (188)
NDF - Non Deliverable Forward (4,896) 7.7% (739) (1,256) (565) (1,097) (822) (417)
Other Derivative Financial Instruments (155) 0.2% (4) (2) (6) (5) (36) (102)
Total (63,204) 100.0% (7,153) (7,066) (9,108) (7,625) (8,596) (23,656)
% per maturity date     11.3% 11.2% 14.4% 12.1% 13.6% 37.4%
Summary of the Composition of Derivatives by Index
         
    Off-balance sheet notional amount Balance sheet account receivable / (received) (payable) / paid Adjustment to fair value (in income / stockholders' equity) Fair value
    12/31/2022
Future contracts   1,020,605 - - -
Purchase commitments   418,886 - - -
Shares   3,395 - - -
Commodities   503 - - -
Interest   385,229 - - -
Foreign currency   29,759 - - -
Commitments to sell   601,719 - - -
Shares   11,702 - - -
Commodities   3,896 - - -
Interest   557,806 - - -
Foreign currency   28,315 - - -
Swap contracts     2,948 4,886 7,834
Asset position   1,571,025 22,396 24,506 46,902
Commodities   222 1 1 2
Interest   1,509,045 20,913 23,502 44,415
Foreign currency   61,758 1,482 1,003 2,485
Liability position   1,571,025 (19,448) (19,620) (39,068)
Shares   1,604 (180) 59 (121)
Commodities   609 (5) 1 (4)
Interest   1,491,476 (18,130) (18,487) (36,617)
Foreign currency   77,336 (1,133) (1,193) (2,326)
Option contracts   1,352,201 (5,960) (251) (6,211)
Purchase commitments – long position   267,199 3,071 (665) 2,406
Shares   131,529 1,786 (131) 1,655
Commodities   2,347 43 (7) 36
Interest   93,795 156 4 160
Foreign currency   39,528 1,086 (531) 555
Commitments to sell – long position   419,044 20,238 1,027 21,265
Shares   138,899 19,592 1,094 20,686
Commodities   904 18 (6) 12
Interest   256,483 51 6 57
Foreign currency   22,758 577 (67) 510
Purchase commitments – short position   223,496 (7,997) 444 (7,553)
Shares   131,361 (4,448) 155 (4,293)
Commodities   2,000 (15) 5 (10)
Interest   64,256 (181) (5) (186)
Foreign currency   25,879 (3,353) 289 (3,064)
Commitments to sell – short position   442,462 (21,272) (1,057) (22,329)
Shares   137,322 (17,467) (1,087) (18,554)
Commodities   963 (32) 10 (22)
Interest   270,585 (66) (13) (79)
Foreign currency   33,592 (3,707) 33 (3,674)
Forward operations   4,755 549 (13) 536
Purchases receivable   187 452 (4) 448
Shares   157 157 (5) 152
Interest   30 295 1 296
Purchases payable obligations   - (30) - (30)
Interest   - (30) - (30)
Sales receivable   3,901 153 - 153
Shares   126 124 - 124
Commodities   6 6 - 6
Interest   - 23 - 23
Foreign currency   3,769 - - -
Sales deliverable obligations   667 (26) (9) (35)
Interest   23 (26) 1 (25)
Foreign currency   644 - (10) (10)
Credit derivatives   43,808 (101) (11) (112)
Asset position   28,724 542 (50) 492
Shares   2,192 71 15 86
Interest   26,532 471 (65) 406
Liability position   15,084 (643) 39 (604)
Shares   2,846 (58) (58) (116)
Interest   12,238 (585) 97 (488)
NDF - Non Deliverable Forward   326,100 (936) 450 (486)
Asset position   162,554 5,808 332 6,140
Shares   2,943 343 (2) 341
Foreign currency   159,611 5,465 334 5,799
Liability position   163,546 (6,744) 118 (6,626)
Commodities   867 (81) (4) (85)
Foreign currency   162,679 (6,663) 122 (6,541)
Other derivative financial instruments   8,170 44 (258) (214)
Asset position   7,261 255 147 402
Shares   1,096 - 61 61
Commodities   72 - 1 1
Interest   6,093 255 85 340
Liability position   909 (211) (405) (616)
Shares   467 (1) (4) (5)
Commodities   47 (6) (1) (7)
Interest   301 (201) (15) (216)
Foreign currency   94 (3) (385) (388)
           
    Asset 52,915 25,293 78,208
    Liability (56,371) (20,490) (76,861)
    Total (3,456) 4,803 1,347
Summary of Derivative Contracts Maturity
           
Derivative contracts mature as follows (in days):          
Off-balance sheet – notional amount (1) 0 - 30 31 - 180 181 - 365 Over 365 days 12/31/2022
Future contracts 227,878 423,571 216,999 152,157 1,020,605
Swap contracts 267,484 151,436 176,320 975,785 1,571,025
Option contracts 456,100 462,790 374,678 58,633 1,352,201
Forwards (onshore) 1,406 2,637 706 6 4,755
Credit derivatives 3,912 9,578 5,144 25,174 43,808
NDF - Non Deliverable Forward 116,901 111,325 55,411 42,463 326,100
Other derivative financial instruments 131 637 1,012 6,390 8,170
Summary of the Composition of Derivatives by Index
         
    Off-balance sheet notional amount Balance sheet account receivable / (received) (payable) / paid Adjustment to fair value (in income / stockholders' equity) Fair value
    12/31/2021
Future contracts   857,781 - - -
Purchase commitments   470,895 - - -
Shares   14,627 - - -
Commodities   703 - - -
Interest   429,862 - - -
Foreign currency   25,703 - - -
Commitments to sell   386,886 - - -
Shares   14,181 - - -
Commodities   3,308 - - -
Interest   342,575 - - -
Foreign currency   26,822 - - -
Swap contracts     (1,861) 5,229 3,368
Asset position   1,338,457 13,410 24,604 38,014
Commodities   2 - - -
Interest   1,318,082 10,339 23,835 34,174
Foreign currency   20,373 3,071 769 3,840
Liability position   1,338,457 (15,271) (19,375) (34,646)
Shares   497 (37) (3) (40)
Commodities   130 - (1) (1)
Interest   1,309,778 (13,331) (19,377) (32,708)
Foreign currency   28,052 (1,903) 6 (1,897)
Option contracts   1,621,736 154 (1,449) (1,295)
Purchase commitments – long position   145,412 17,981 1,496 19,477
Shares   11,929 521 1,140 1,661
Commodities   471 20 20 40
Interest   63,697 127 98 225
Foreign currency   69,315 17,313 238 17,551
Commitments to sell – long position   668,380 2,433 (658) 1,775
Shares   18,928 878 339 1,217
Commodities   306 9 (3) 6
Interest   582,086 154 (148) 6
Foreign currency   67,060 1,392 (846) 546
Purchase commitments – short position   79,734 (17,595) (2,781) (20,376)
Shares   14,045 (348) (1,185) (1,533)
Commodities   274 (8) (1) (9)
Interest   3,284 (68) (48) (116)
Foreign currency   62,131 (17,171) (1,547) (18,718)
Commitments to sell – short position   728,210 (2,665) 494 (2,171)
Shares   16,545 (648) (368) (1,016)
Commodities   266 (19) 11 (8)
Interest   642,475 (227) 211 (16)
Foreign currency   68,924 (1,771) 640 (1,131)
Forward operations   26,129 2,362 (13) 2,349
Purchases receivable   1,016 1,186 (27) 1,159
Shares   948 948 (27) 921
Interest   68 238 - 238
Purchases payable obligations   - (68) - (68)
Interest   - (68) - (68)
Sales receivable   20,765 1,938 14 1,952
Shares   1,258 1,244 (1) 1,243
Interest   - 694 - 694
Foreign currency   19,507 - 15 15
Sales deliverable obligations   4,348 (694) - (694)
Interest   694 (694) - (694)
Foreign currency   3,654 - - -
Credit derivatives   21,556 (532) 576 44
Asset position   13,414 (271) 513 242
Shares   1,784 (37) 101 64
Commodities   18 - - -
Interest   11,612 (234) 412 178
Liability position   8,142 (261) 63 (198)
Shares   1,865 (63) 17 (46)
Interest   6,277 (198) 46 (152)
NDF - Non Deliverable Forward   278,531 239 808 1,047
Asset position   144,123 5,256 687 5,943
Shares   5 - - -
Commodities   2,489 478 (1) 477
Foreign currency   141,629 4,778 688 5,466
Liability position   134,408 (5,017) 121 (4,896)
Commodities   1,104 (50) 3 (47)
Foreign currency   133,304 (4,967) 118 (4,849)
Other derivative financial instruments   6,064 25 303 328
Asset position   5,132 164 319 483
Shares   202 - 8 8
Interest   4,869 161 29 190
Foreign currency   61 3 282 285
Liability position   932 (139) (16) (155)
Shares   576 (9) (12) (21)
Interest   347 (130) (3) (133)
Foreign currency   9 - (1) (1)
    Asset 42,097 26,948 69,045
    Liability (41,710) (21,494) (63,204)
    Total 387 5,454 5,841
Summary of Derivative Contracts Maturity
         
Derivative contracts mature as follows (in days):
Off-balance sheet – notional amount (1) 0 - 30 31 - 180 181 - 365 Over 365 days 12/31/2021
Future contracts 370,243 248,922 74,456 164,160 857,781
Swap contracts 131,681 155,022 121,040 930,714 1,338,457
Option contracts 1,230,470 268,254 45,731 77,281 1,621,736
Forwards 3,173 13,402 9,551 3 26,129
Credit derivatives - 6,602 826 14,128 21,556
NDF - Non Deliverable Forward 77,962 113,359 48,091 39,119 278,531
Other derivative financial instruments 199 739 624 4,502 6,064
Schedule of Derivative Financial Instruments Portfolio by Type of Instrument
See below the composition of the Derivative Financial Instruments portfolio by type of instrument, stated at their notional amounts, per trading location (organized or over-the-counter market) and counterparties.
             
  12/31/2022
  Future contracts Swap contracts Option contracts Forwards Credit derivatives NDF - Non Deliverable Forward Other derivative financial instruments
Stock exchange 1,020,604 991,559 1,255,056 4,696 17,806 70,562 -
Over-the-counter market 1 579,466 97,145 59 26,002 255,538 8,170
Financial institutions - 465,917 52,177 53 26,002 117,077 5,938
Companies 1 105,076 43,949 6 - 137,091 2,227
Individuals - 8,473 1,019 - - 1,370 5
Total 1,020,605 1,571,025 1,352,201 4,755 43,808 326,100 8,170
               
  12/31/2021
  Future contracts Swap contracts Option contracts Forwards Credit derivatives NDF - Non Deliverable Forward Other derivative financial instruments
Stock exchange 857,781 817,629 1,530,730 25,368 7,535 65,035 -
Over-the-counter market - 520,828 91,006 761 14,021 213,496 6,064
Financial institutions - 413,651 57,540 761 14,021 76,415 4,861
Companies - 103,758 32,415 - - 136,270 1,200
Individuals - 3,419 1,051 - - 811 3
Total 857,781 1,338,457 1,621,736 26,129 21,556 278,531 6,064
Disclosure of Portfolio of Credit Derivatives
ITAÚ UNIBANCO HOLDING buys and sells credit protection in order to meet the needs of its customers, to manage and mitigate its portfolios' risk.
CDS (credit default swap) is a credit derivative in which, upon a default related to the reference entity, the protection buyer is entitled to receive, the amount equivalent to the difference between the face value of the CDS contract and the fair value of the liability on the date the contract was settled, also known as the recovered amount. The protection buyer does not need to hold the reference entity's debt instrument in order to receive the amounts due when a credit event occurs, as per the terms of the CDS contract.
TRS (total return swap) is a transaction in which a party swaps the total return of an asset or of a basket of assets for regular cash flows, usually interest and a guarantee against capital loss. In a TRS contract, the parties do not transfer the ownership of the assets.
ITAÚ UNIBANCO HOLDING assesses the risk of a credit derivative based on the credit ratings attributed to the reference entity by independent credit rating agencies. Investment grade entities are those for which credit risk is rated as Baa3 or higher, as rated by Moody's, and BBB- or higher, by Standard & Poor’s and Fitch Ratings.
         
  12/31/2022
  Maximum potential of future payments, gross Up to 1 year From 1 to 3 years From 3 to 5 years Over 5 years
By instrument          
CDS 18,156 2,534 6,368 9,176 78
TRS 16,000 16,000 - - -
Total by instrument 34,156 18,534 6,368 9,176 78
By risk rating          
Investment grade 1,944 218 850 876 -
Below investment grade 32,212 18,316 5,518 8,300 78
Total by risk 34,156 18,534 6,368 9,176 78
By reference entity          
Brazilian government 28,988 17,195 4,543 7,172 78
Governments – abroad 280 91 73 116 -
Private entities 4,888 1,248 1,752 1,888 -
Total by entity 34,156 18,534 6,368 9,176 78
           
  12/31/2021
  Maximum potential of future payments, gross Up to 1 year From 1 to 3 years From 3 to 5 years Over 5 years
By instrument          
CDS 9,837 1,681 3,566 4,590 -
TRS 5,610 5,610 - - -
Total by instrument 15,447 7,291 3,566 4,590 -
By risk rating          
Investment grade 516 194 253 69 -
Below investment grade 14,931 7,097 3,313 4,521 -
Total by risk 15,447 7,291 3,566 4,590 -
By reference entity          
Brazilian government 11,882 6,144 1,792 3,946 -
Governments – abroad 196 33 102 61 -
Private entities 3,369 1,114 1,672 583 -
Total by entity 15,447 7,291 3,566 4,590 -
Schedule of Notional Amount of Purchased Credit Derivatives
The following table presents the notional amount of credit derivatives purchased. The underlying amounts are identical to those for which ITAÚ UNIBANCO HOLDING has sold credit protection.
     
  12/31/2022
  Notional amount of credit protection sold Notional amount of credit protection purchased with identical underlying amount Net position
CDS (18,156) 9,652 (8,504)
TRS (16,000) - (16,000)
Total (34,156) 9,652 (24,504)
       
  12/31/2021
  Notional amount of credit protection sold Notional amount of credit protection purchased with identical underlying amount Net position
CDS (9,837) 6,109 (3,728)
TRS (5,610) - (5,610)
Total (15,447) 6,109 (9,338)
Schedule of Financial Assets subject to Offsetting, Enforceable Master Netting Arrangements and Similar Agreements
           
  12/31/2022
  Gross amount of recognized financial assets (1) Gross amount offset in the Balance Sheet Net amount of financial assets presented in the Balance Sheet Related amounts not offset in the Balance Sheet (2) Total
  Financial instruments (3) Cash collateral received
Securities purchased under agreements to resell 221,776 - 221,776 (3,930) - 217,846
Derivative financial instruments 78,208 - 78,208 (17,507) (1,005) 59,696
             
  12/31/2021
  Gross amount of recognized financial assets (1) Gross amount offset in the Balance Sheet Net amount of financial assets presented in the Balance Sheet Related amounts not offset in the Balance Sheet (2) Total
  Financial instruments (3) Cash collateral received
Securities purchased under agreements to resell 169,711 - 169,711 (3,649) - 166,062
Derivative financial instruments 69,045 - 69,045 (14,517) (217) 54,311

 

Financial liabilities subject to offsetting, enforceable master netting arrangements and similar agreements:
  12/31/2022
  Gross amount of recognized financial liabilities (1) Gross amount offset in the Balance Sheet Net amount of financial liabilities presented in the Balance Sheet Related amounts not offset in the Balance Sheet (2) Total
  Financial instruments (3) Cash collateral pledged
Securities sold under repurchase agreements 293,440 - 293,440 (40,156) - 253,284
Derivative financial instruments 76,861 - 76,861 (17,507) - 59,354
             
  12/31/2021
  Gross amount of recognized financial liabilities (1) Gross amount offset in the Balance Sheet Net amount of financial liabilities presented in the Balance Sheet Related amounts not offset in the Balance Sheet (2) Total
  Financial instruments (3) Cash collateral pledged
Securities sold under repurchase agreements 252,848 - 252,848 (39,317) - 213,531
Derivative financial instruments 63,204 - 63,204 (14,517) - 48,687
1) Includes amounts of master offset agreements and other such agreements, both enforceable and unenforceable.
2) Limited to amounts subject to enforceable master offset agreements and other such agreements.
3) Includes amounts subject to enforceable master offset agreements and other such agreements, and guarantees in financial instruments.