Brazil's Itaú CEO Setubal sees rising interest income this year

SAO PAULO Wed Feb 5, 2014 8:00am EST

SAO PAULO Feb 5 (Reuters) - Itaú Unibanco Holding SA , Brazil's largest bank by market value, is likely to see net interest income, or revenue from lending-related transactions excluding bad loan provisions, rise in 2014, Chief Executive Officer Roberto Setubal said on a conference call on Wednesday.

Net interest income fell 8.6 percent in 2013 as the result of years of declining borrowing costs, rising competition from state-run banks and a more prudent loan disbursement policy by Itaú.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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