Note

April 13, 20 - 9:38 am - LABS

Brazilian largest private bank to donate $196 million to fight COVID-19

Brazil’s largest private bank, Itaú Unibanco, is set to donate BRL 1 billion ($196 million) to help Brazil’s fight against COVID-19, according to Folha de S.Paulo. It’s the largest donation from just one company in Brazil to fight the pandemic, and it will be managed by Fundação Itaú Unibanco.

The amount will be administered exclusively by a board of health professionals such as directors of public and private hospitals. Today, the bank shall make a statement about it.

Itaú’s liquid profit in the fiscal year of 2019 was BRL 28 billion, according to Poder360.