INVESTMENTS IN UNCONSOLIDATED COMPANIES (Tables)

12 Months Ended

Dec. 31, 2010

Investments In Unconsolidated Companies (Tables) [Abstract]

Schedule Of Equity and Cost Method Investments [Table Text Block]

Schedule of Equity and Cost method investments

	Ownership % as of 12/31/2010				12/31/2010 (a)										12/31/2009 (a)							12/31/2008 (a)
	Total		Voting		Stockholders’ equity		Net income (loss)		Investment		Equity in earnings (losses)		Market Value		Investment		Equity in earnings (losses)			Market Value		Equity in earnings (losses)
Investments accounted for under the equity method
Banco BPI S.A.  (b)		19.04		19.04		4,091		336		779		64		524		1,018		(280	)		903		148
Porto Seguro Itaú Unibanco Participações S.A. (c)		42.93		42.93		2,602		242		2,013		104		2,782		1,909		36			1,985		-
Itaú XL Seguros Corporativos S.A. (d)		-		-		-		-		-		9				123		22					7
Redecard S.A. (e)		-		-		-		-		-		-				-		147					278
Other  (f)		-		-		-		-		257		131				466		66					41
Subtotal										3,049		308				3,516		(9	)				474
Other investments recorded at cost		-		-		-		-		548		-				805		-					-
Total										3,597		308				4,321		(9	)				474

(a) Amounts derived from the financial statements prepared in accordance with accounting principles adopted in Brazil in each case adjusted for US GAAP, when applicable. There are no significant restrictions to remit funds to the Bank.

(b) Banco BPI S.A. is an equity investee of IPI – Itausa Investimentos Ltda (“IPI”). The shares of IPI are owned 43% by Itaúsa Export S.A. and 57% by other subsidiaries of Itaú Unibanco Holding. During the year ended December 31, 2009 we recorded an impairment charge with respect to this investment of R$ 302.

(c) On August 23, 2009, Itaú Unibanco Holding obtained an equity interest in Porto Seguro S.A.. Total investment as of December 31, 2010 and R$ 936 as of December 31, 2009, which corresponds to the difference between the investment in net assets of Porto Seguro Itaú Unibanco Participações S.A., and the cost of investment. As of December 31, 2010 the difference between the investment in net assets and the cost of investments is composed as follows: (i) fair value of intangible assets of R$ 814, (ii) goodwill of R$ 398 and (iii) other differences of R$ (311). For purpose of market value, the quotation of Porto Segueos S.A. shares was taken into account.

(d) See Note 1b.

(e) See Note 3b.

(f) Other includes interest in the total capital and voting stock of the following companies : Latosol Empreendimentos e Participação Ltda (32.11% total capital and voting stock), Olímpia Promoção e Serviços S.A. (50% total capital and voting stock), Rosefiled Finance Ltd (50% total capital and voting stock), Serasa S.A. (24.39% of total capital and voting stock) and Tecnologia Bancária S.A. (14.86% total capital and 24.81% voting stock).

Summarized Financial Information Of Equity Method Investments [Table Text Block]

Summarized financial information of Equity method investments

Balance sheet - unaudited	12/31/2008
Total assets		14,645
Total liabilities		13,459
Stockholders’ equity		1,186
Investment		275

Statement of income - unaudited	01/01/2008 to 12/31/2008
Operating revenues		2,900
Operating expenses		1,109
Income before income tax		1,791
Income tax		592
Net income		1,199
Equity in earnings		278