Milton Maluhy avoided commenting on possible developments in the sanctions applied to Minister Alexandre de Moraes during a teleconference
Milton Maluhy Filho, CEO, said the financial institution strictly follows the legislations of all countries where it operates. The statement was made on Wednesday (6.ago.2025), during conversation with journalists about the financial results of the 2nd quarter, when he answered questions about the magnitsky law.
The executive avoided making specific comments on possible developments in the sanctions applied to the Minister of (Supreme Federal Court) Alexandre de Moraes.
In the teleconference, Maluhy Filho chose not to speculate on the possibility of sanctions of the magnitsky law that hit Minister Moraes were extended to other authorities, companies or banks.
“Discussing extension is something I prefer not to comment. This is a theme that we have no control, of course, and we do not discuss the field of hypotheses. Nor specific cases, either for the sake of bank secret or LGPD (General Data Protection Law).”said the executive.
Magnitsky law allows US government to apply sanctions against people and organizations accused of participating in corruption or human rights violations anywhere in the world. The subject gained relevance after the announcement of sanctions against Minister Moraes.
Itaú CEO stated that the institution maintains operations in 19 different countries and follows local and international laws in all of them.
“We strictly comply with the laws of all the jurisdictions where we operate”said Maluhy Filho. The executive also added: “We meet local and domestic standards and all the legislation of the countries where we are also based from the point of view of the business relations we have with partners and suppliers.”
The bank has a legal structure prepared to deal with the complexities of international standards. “We have external lawyers and we surround ourselves with the best legal consultants”said the CEO.
Banco Itaú registered recurring net income of R $ 11.5 billion in the 2nd quarter of 2025. The amount represents a growth of 14.3% compared to the same period of the previous year.
