July 30, 2019 / 2:30 PM / 24 days ago

Brazil's Itau Unibanco loses market share in less profitable segments -CEO

SAO PAULO, July 30 (Reuters) - Brazil’s Itau Unibanco Holding SA has been losing market share in the card processing business with less profitable clients, Chief Executive Candido Bracher said in a conference call with analysts on Tuesday.

Bracher said that Rede, the bank’s card processor unit, has been targeting clients with up to 30 million reais ($7.92 million) in annual revenues, which Itau sees as the “richer” segment. ($1 = 3.7901 reais) (Reporting by Carolina Mandl Editing by Marguerita Choy)

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