Itaú Unibanco, Brazil’s largest private bank, is set to donate BRL 1 billion (USD 196 million) to help the country fight Covid-19, journalist Elio Gaspari reported. If confirmed, it would be the biggest philanthropic donation in Brazilian history. The money will be destined to the bank’s foundation and will be “administered exclusively by a council formed by healthcare professionals, including the directors of public and private hospitals,” according to Mr. Gaspari.
Since the beginning of the crisis, Itaú Unibanco has already donated BRL 250 million. The official announcement should be made tomorrow morning by chief executive officer Candido Bracher.