Brazil’s largest bank Itaú faces challenge of changing its culture

Milton Maluhy, Itaú Unibanco's CEO, said on Wednesday, June 2, that the bank needs to undergo a major cultural transformation. The executive mentioned the need to focus on the client and on new technologies.

RIO DE JANEIRO, BRAZIL - Milton Maluhy, Itaú Unibanco's CEO, said on Wednesday, June 2, that the bank needs to undergo a major cultural transformation. The executive mentioned the need to focus on the client and on new technologies.

During an event to introduce his projects to investors, Maluhy also discussed the creation of a new retail banking operation and the need to increase - and greatly - the share of its digital operations in revenues.

"Transformation, now, has to be culture. We need to have a more agile and simpler structure, have the humility to recognize mistakes and not be afraid . . .

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