SAO PAULO, Aug 5 (Reuters) - Brazilian lender Itau

Unibanco ( ITUB ) on Tuesday posted a 14.3% rise in

second-quarter net recurring profit from a year earlier,

slightly beating estimates while also upping its yearly

projection for the growth of net interest income with clients.

Itau, Latin America's most valuable bank by market

value, reported an 11.5 billion reais ($2.09 billion) net

recurring profit for the quarter through the end of June,

compared to an estimate of 11.3 billion reais from analysts

polled by LSEG.

The Brazilian lender's annualized return on equity

(ROE), a gauge of profitability, stood at 23.3%, rising from

22.4% a year earlier.

The lender said it expects the net interest income (NII)

with clients to grow between 11% and 14% this year, from 7.5% to

11.5% previously.

Itau also revised the effective tax rate to between

28.5% and 30.5% this year, from a range between 27% and 29%

previously.

In a separate filing, Itau announced interest on equity

to shareholders of about 0.36 real per share.

($1 = 5.5043 reais)