SAO PAULO, Nov 4 (Reuters) - Brazilian lender Itau

Unibanco ( ITUB ) on Tuesday reported third-quarter net

recurring profit in line with analysts' estimates and raised its

projection for 2025 net interest income with the market.

Itau, Latin America's largest private lender by total

assets, reported an 11.9 billion reais ($2.20 billion) net

recurring profit for the July-September period, matching the

expectations of analysts polled by LSEG.

Return on equity stood at 23.3%, increasing 0.6 percentage

points from the same period a year earlier, but stable from the

previous quarter.

"Once again, the bank demonstrated its capacity to maintain

an already high profitability," Citi analysts led by Gustavo

Schroden wrote to clients, noting an "overall solid bottom

line."

The lender revised upward its yearly projection for net

interest income with the market to between 3 billion reais

($555.2 million) and 3.5 billion reais ($647.7 million), from a

previous estimate of between 1 billion and 3 billion reais.

"This revision mostly reflects the more positive dynamics of

the trading desk's accumulated results compared to the original

expectation," Itau said, adding all other 2025 projections

remain unchanged.

Itau's total credit portfolio reached 1.4 trillion reais in

the quarter, rising 6.4% year-on-year, while Itau's net interest

income increased 10.1% to 31.4 billion reais.

The over-90-day delinquency rate came in at 1.9%, stable

quarter-on-quarter, while the rate between 15 and 90 days rose

0.3 percentage points to 2%, with Itau citing the impact of an

unnamed large client.

Itau has not been releasing the year-over-year

comparison for delinquency rates following a regulatory change

on provisions that took effect in Brazil in January.

Itau's rivals Santander Brasil and Bradesco

released

their

third-quarter earnings last week, while Banco do Brasil

and Nubank are set to publish results next

week.

($1 = 5.4039 reais)