Itau Plans BRL2.1bn Buyback

Itau’s board has approved a BRL2.07bn ($1.18bn) share repurchase program, under which it may buy up to 9m common and 56.7m preferred Itau-Unibanco Holding shares. The program is in effect through November of next year. The common shares closed Tuesday at BRL27.49 and the preferred at BRL32.13, implying a value of BRL2.07bn for the operation if all shares are purchased.