Itau Unibanco Banco Holding SA (ITUB) - Not Halal (Non-Compliant)
Itau Unibanco Banco Holding SA (ITUB) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Financial Services
- Industry
- Banks - Regional
- Result
- Pass
- Reason
- The sector "Financial Services" and industry "Banks - Regional" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 142.2% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 270.7% | Threshold: 30% | Result: Fail
- Non-Permissible Income Ratio
- Value: 127.0% | Threshold: 5% | Result: Fail
Dividend Purification
Purification percentage: 100.00%.Based on the company's financial statements, approximately 100.00% of dividend income comes from non-permissible sources; this is the share many investors donate to purify it. This is derived from identified interest income (126.95% of total income). Some scholars may differ on the exact calculation method.
About Itau Unibanco Banco Holding SA
Itaú Unibanco Holding S.A. provides various financial products and services to personal and corporate customers in Brazil and internationally. It operates through three segments: Retail Business, Wholesale Business and Activities with the Market + Corporation. The company offers current accounts; funds management; payments and collections; loans; credit and debit cards; investment and commercial banking services; real estate lending and financing services; economic, financial and brokerage advisory; and leasing and foreign exchange services. The company also provides non-life insurance products covering loss, damage, or liability for objects or people, as well as life insurance products covering death and personal accidents. It serves retail customers, account and non-account holders, individuals and legal entities, high income clients, microenterprises, and small companies, as well as middle-market companies and high net worth institutional clients. The company was formerly known as Itaú Unibanco Banco Múltiplo S.A. and changed its name to Itaú Unibanco Holding S.A. in April 2009. The company was incorporated in 1924 and is headquartered in São Paulo, Brazil. Itaú Unibanco Holding S.A. is a subsidiary of IUPAR - Itaú Unibanco Participações S.A.
