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    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Available-for-sale securities, at fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecurities" xlink:label="loc_us-gaap_HeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Held-to-maturity securities, at amortized cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecurities" xlink:to="lab_us-gaap_HeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Held-to-maturity securities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Held-to-maturity securities, at amortized cost (fair value R$ 3,110 and R$ 2,124 at December 31, 2010 and 2009)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Loans and leases, net of allowance for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net loans and leases</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetReportedAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net loans and leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Net Of Deferred Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:to="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowance" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowance" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Allowance for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Allowance for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Allowance for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowance" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Allowance for loan and lease losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:to="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Investments in unconsolidated companies</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investments in unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Premises and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentNet" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Premises and equipment, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Goodwill" xlink:label="loc_us-gaap_Goodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Goodwill" xlink:to="lab_us-gaap_Goodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Goodwill, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Goodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Goodwill, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible assets, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Intangible assets, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Intangible assets, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Intangible assets, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TOTAL ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">TOTAL ASSETS</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">TOTAL ASSETS</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL ASSETS</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xml:lang="en-US">Assets for which fair value approximates carrying value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS' EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">LIABILITIES AND STOCKHOLDERS' EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Deposits" xlink:label="loc_us-gaap_Deposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Deposits" xlink:to="lab_us-gaap_Deposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Deposits" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestBearingDepositLiabilities" xlink:label="loc_us-gaap_NoninterestBearingDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestBearingDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non-interest bearing deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestBearingDepositLiabilities" xlink:to="lab_us-gaap_NoninterestBearingDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestBearingDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Non-interest bearing deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestBearingDepositLiabilities" xlink:label="loc_us-gaap_InterestBearingDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestBearingDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest-bearing deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestBearingDepositLiabilities" xlink:to="lab_us-gaap_InterestBearingDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestBearingDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest-bearing deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities sold under repurchase agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:to="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securities sold under repurchase agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShortTermBorrowings" xlink:label="loc_us-gaap_ShortTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShortTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShortTermBorrowings" xlink:to="lab_us-gaap_ShortTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShortTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Short-term borrowings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long-term debt</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedInsuranceCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccruedInsuranceCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccruedInsuranceCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Insurance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedInsuranceCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccruedInsuranceCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccruedInsuranceCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Insurance claims reserves, reserves for private retirement plans and reserves for capitalization</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InvestmentContract" xlink:label="loc_itub_InvestmentContract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentContract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investment contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InvestmentContract" xlink:to="lab_itub_InvestmentContract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentContract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investment contracts</label>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentContract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Reserves of private retirement plans for products whose investment risk during the accumulation phase of the plans is for the account of the holders of the policies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilities" xlink:label="loc_us-gaap_OtherLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other liabilities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Total liabilities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Liabilities for which fair value approximates carrying value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments and contingent liabilities (Note 30)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders' equity of Itau Unibanco :</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract" xlink:to="lab_us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stockholders&#8217; equity of Ita&#250; Unibanco:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Shares - No Par Value ( 3,300,000,000 Authorized At December 31, 2009 and 2008 2,289,286,475 and 1,708,760,440 Issued At December 31, 2009 and 2008, Respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common shares no par value (3,300,000,000 authorized as of December 31, 2010 and 2009; 2,289,286,475 issued as of December 31, 2010 and 2009)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="loc_us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Shares - No Par Value ( 3,300,000,000 Authorized At December 31, 2009 and 2008 2,281,649,744 and 1,605,988,901 Issued At December 31, 2009 and 2008, Respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockValue" xlink:to="lab_us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares no par value ( 3,300,000,000 authorized as of December 31, 2010 and 2009; 2,281,649,744 issued as of December 31, 2010 and 2009)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="loc_us-gaap_TreasuryStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury shares ( 43,588,307 and 64,639,300 preferred shares at December 31, 2009 and 2008, respectively; 2,202 common shares at December 31, 2009)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValue" xlink:to="lab_us-gaap_TreasuryStockValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Treasury shares ( 43,588,307 and 64,639,300 preferred shares at December 31, 2009 and 2008, respectively; 2,202 common shares at December 31, 2009)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValue" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Treasury shares ( 26,566,015 and 43,588,307 preferred shares as of December 31, 2010 and 2009, respectively;1,502,202 and 2,202 common shares as of December 31, 2010 and 2009, respectively)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="loc_us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional Paid in Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapital" xlink:to="lab_us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdditionalPaidInCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Additional paid-in capital</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="loc_us-gaap_RetainedEarningsAppropriated"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAppropriated" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Retained Earnings, Appropriated</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAppropriated" xlink:to="lab_us-gaap_RetainedEarningsAppropriated"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAppropriated" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Appropriated retained earnings</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAppropriated" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Reserves</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other accumulated comprehensive income:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTaxAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other accumulated comprehensive income:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net unrealized gains (losses) on available-for-sale securities, net of taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cumulative translation adjustment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined benefit of pension plans and other post-retirement plans, net of taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined benefit of pension plans and other post-retirement plans, net of taxes</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Defined benefit of pension plans and other post-retirement plans, net of taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Flow Hedge &#8211; Effective Portion, Net Of Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash flow hedge &#8211; effective portion, net of taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="loc_us-gaap_RetainedEarningsUnappropriated"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsUnappropriated" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unappropriated retained earnings (accumulated losses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUnappropriated" xlink:to="lab_us-gaap_RetainedEarningsUnappropriated"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsUnappropriated" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Unappropriated retained earnings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders' Equity Attributable to Parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total stockholders' equity of Itau Unibanco</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total stockholders' equity of Itau Unibanco</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Noncontrolling interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total equity</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Total stockholders&#8217; equity</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">TOTAL LIABILITIES AND EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">TOTAL LIABILITIES AND EQUITY</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityInterestIssuedOrIssuableByTypeAxis" xlink:label="loc_us-gaap_EquityInterestIssuedOrIssuableByTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityInterestIssuedOrIssuableByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Interest Issued Or Issuable By Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityInterestIssuedOrIssuableByTypeAxis" xlink:to="lab_us-gaap_EquityInterestIssuedOrIssuableByTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityInterestIssuedOrIssuableByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity Interest Issued or Issuable by Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityInterestIssuedOrIssuableTypeDomain" xlink:label="loc_us-gaap_EquityInterestIssuedOrIssuableTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityInterestIssuedOrIssuableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Interest Issued Or Issuable, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityInterestIssuedOrIssuableTypeDomain" xlink:to="lab_us-gaap_EquityInterestIssuedOrIssuableTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityInterestIssuedOrIssuableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity Interest Issued or Issuable, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="loc_us-gaap_PreferredStockMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockMember" xlink:to="lab_us-gaap_PreferredStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortized cost</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesAmortizedCostBeforeOtherThanTemporaryImpairment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of Held-to-maturity securities (in reais)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockNoParValue" xlink:label="loc_us-gaap_CommonStockNoParValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockNoParValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common shares, no par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockNoParValue" xlink:to="lab_us-gaap_CommonStockNoParValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockNoParValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common shares, no par value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common shares, authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common shares, authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common shares, issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Common shares, issued</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common shares, issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockNoParValue" xlink:label="loc_us-gaap_PreferredStockNoParValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockNoParValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred shares, no par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockNoParValue" xlink:to="lab_us-gaap_PreferredStockNoParValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockNoParValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares, no par value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="loc_us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred shares, authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesAuthorized" xlink:to="lab_us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares, authorized</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="loc_us-gaap_PreferredStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred shares, issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Preferred shares, issued</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares, issued</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury shares, shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares" xlink:to="lab_us-gaap_TreasuryStockShares"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Treasury shares, shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockShares" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance (in shares)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockShares" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Income Statement [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeOperating" xlink:label="loc_us-gaap_InterestAndDividendIncomeOperating"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">INTEREST INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeOperating" xlink:to="lab_us-gaap_InterestAndDividendIncomeOperating"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">INTEREST INCOME</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeOperating" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">INTEREST INCOME</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on loans and leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on loans and leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeDepositsWithFinancialInstitutions" xlink:label="loc_us-gaap_InterestIncomeDepositsWithFinancialInstitutions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeDepositsWithFinancialInstitutions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on deposits in banks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeDepositsWithFinancialInstitutions" xlink:to="lab_us-gaap_InterestIncomeDepositsWithFinancialInstitutions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeDepositsWithFinancialInstitutions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on deposits in banks</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestOnCentralBankCompulsoryDeposits" xlink:label="loc_itub_InterestOnCentralBankCompulsoryDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on Central Bank compulsory deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestOnCentralBankCompulsoryDeposits" xlink:to="lab_itub_InterestOnCentralBankCompulsoryDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on Central Bank compulsory deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Interest on Central Bank compulsory deposits. The central banks of the countries where Itau Unibanco Holding operates require financial institutions, including Itau Unibanco Holding, to deposit certain funds with the Central Bank or, in case of Brazil, to purchase and hold Brazilian federal government securities.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on securities purchased under resale agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on securities purchased under resale agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on trading assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesTradingOrMeasuredAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on trading assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest and dividends on available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesAvailableForSale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest and dividends on available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:label="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on held-to-maturity securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:to="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestAndDividendIncomeSecuritiesHeldToMaturity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense" xlink:to="lab_us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">INTEREST EXPENSE</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">INTEREST EXPENSE</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseDeposits" xlink:label="loc_us-gaap_InterestExpenseDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDeposits" xlink:to="lab_us-gaap_InterestExpenseDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on deposits</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseDeposits" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest on deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on securities sold under repurchase agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:to="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on securities sold under repurchase agreements</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest on securities sold under repurchase agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseShortTermBorrowings" xlink:label="loc_us-gaap_InterestExpenseShortTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseShortTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on short-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseShortTermBorrowings" xlink:to="lab_us-gaap_InterestExpenseShortTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseShortTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on short-term borrowings</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseShortTermBorrowings" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest on short-term borrowings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestExpenseLongTermDebt" xlink:label="loc_us-gaap_InterestExpenseLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest on long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseLongTermDebt" xlink:to="lab_us-gaap_InterestExpenseLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on long-term debt</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestExpenseLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest on long-term debt</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestCreditToInvestmentContractAccountBalance" xlink:label="loc_itub_InterestCreditToInvestmentContractAccountBalance"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestCreditToInvestmentContractAccountBalance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Credit to Investment Contract Account Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestCreditToInvestmentContractAccountBalance" xlink:to="lab_itub_InterestCreditToInvestmentContractAccountBalance"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestCreditToInvestmentContractAccountBalance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on investment contracts</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestCreditToInvestmentContractAccountBalance" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Interest on reserves of private retirement plans for products whose investment risk during the accumulation phase of the plans is for the account of the holders of the policies.</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestCreditToInvestmentContractAccountBalance" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Interest on investment contracts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeExpenseNet" xlink:label="loc_us-gaap_InterestIncomeExpenseNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NET INTEREST INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNet" xlink:to="lab_us-gaap_InterestIncomeExpenseNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Net interest income</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">NET INTEREST INCOME</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">NET INTEREST INCOME</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProvisionForLoanAndLeaseLosses" xlink:label="loc_us-gaap_ProvisionForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provision for loan and lease losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanAndLeaseLosses" xlink:to="lab_us-gaap_ProvisionForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Provision for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provision for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Provision for loan and lease losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:label="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NET INTEREST INCOME AFTER ALLOWANCE FOR LOAN AND LEASE LOSSES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:to="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">NET INTEREST INCOME AFTER ALLOWANCE FOR LOAN AND LEASE LOSSES</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">NET INTEREST INCOME AFTER ALLOWANCE FOR LOAN AND LEASE LOSSES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncome" xlink:label="loc_us-gaap_NoninterestIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NON-INTEREST INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncome" xlink:to="lab_us-gaap_NoninterestIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">NON-INTEREST INCOME</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">NON-INTEREST INCOME</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FeesAndCommissions" xlink:label="loc_us-gaap_FeesAndCommissions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fees and Commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FeesAndCommissions" xlink:to="lab_us-gaap_FeesAndCommissions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fee and commission income</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissions" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingGainsLosses" xlink:label="loc_us-gaap_TradingGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TradingGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading income (losses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingGainsLosses" xlink:to="lab_us-gaap_TradingGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TradingGainsLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trading income (losses), net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:label="loc_us-gaap_GainLossOnSaleOfSecuritiesNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net gain (loss) on sale of available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:to="lab_us-gaap_GainLossOnSaleOfSecuritiesNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net gain (loss) on sale of available-for-sale securities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfSecuritiesNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Net (gain) loss on sale of available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net gain (loss) on foreign currency transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net gain (loss) on foreign currency transactions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConversionGainsAndLossesOnForeignInvestments" xlink:label="loc_us-gaap_ConversionGainsAndLossesOnForeignInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ConversionGainsAndLossesOnForeignInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net gain (loss) on transactions of foreign subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConversionGainsAndLossesOnForeignInvestments" xlink:to="lab_us-gaap_ConversionGainsAndLossesOnForeignInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ConversionGainsAndLossesOnForeignInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net gain (loss) on transactions of foreign subsidiaries</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity in earnings of unconsolidated companies, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity in earnings of unconsolidated companies, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity in earnings of unconsolidated companies, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Equity in earnings of unconsolidated companies, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InsuranceCommissionsAndFees" xlink:label="loc_us-gaap_InsuranceCommissionsAndFees"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InsuranceCommissionsAndFees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Commissions and Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InsuranceCommissionsAndFees" xlink:to="lab_us-gaap_InsuranceCommissionsAndFees"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InsuranceCommissionsAndFees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Insurance premiums, income on private retirement plans and capitalization plans</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:label="loc_us-gaap_NoninterestIncomeOtherOperatingIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other non-interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:to="lab_us-gaap_NoninterestIncomeOtherOperatingIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncomeOtherOperatingIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other non-interest income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestExpense" xlink:label="loc_us-gaap_NoninterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">NON-INTEREST EXPENSE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense" xlink:to="lab_us-gaap_NoninterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">NON-INTEREST EXPENSE</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">NON-INTEREST EXPENSE</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LaborAndRelatedExpense" xlink:label="loc_us-gaap_LaborAndRelatedExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Salaries and employee benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LaborAndRelatedExpense" xlink:to="lab_us-gaap_LaborAndRelatedExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Salaries and employee benefits (in 2010 includes gain of R$ 999 on curtailment and partial settlement of PAC Note 25)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LaborAndRelatedExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Salaries and employee benefits (in 2010 includes gain of R$ 999 on curtailment and partial settlement of PAC Note 25)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">General and Administrative Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Administrative expenses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">TOTAL</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Administrative expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization for the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization of intangible assets</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Amortization of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PolicyholderBenefitsAndClaimsIncurredNet" xlink:label="loc_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Policyholder Benefits and Claims Incurred, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet" xlink:to="lab_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Insurance claims, changes in reserves for insurance operations, for private retirement plans and acquisition costs</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PolicyholderBenefitsAndClaimsIncurredNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Insurance claims, changes in reserves for insurance operations, for private retirement plans and acquisition costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="loc_us-gaap_DepreciationNonproduction"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepreciationNonproduction" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Depreciation, Nonproduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationNonproduction" xlink:to="lab_us-gaap_DepreciationNonproduction"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepreciationNonproduction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Depreciation of premises and equipment</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepreciationNonproduction" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Depreciation of premises and equipment</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepreciationNonproduction" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Depreciation of premises and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoninterestExpense" xlink:label="loc_us-gaap_OtherNoninterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other non-interest expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoninterestExpense" xlink:to="lab_us-gaap_OtherNoninterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">TOTAL</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other non-interest expenses (includes R$20, R$56 and R$53 of other than temporary impairment on available for sale securities in 2010, 2009 and 2008)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other non-interest expenses (includes R$20, R$56 and R$53 of other than temporary impairment on available for sale securities in 2010, 2009 and 2008)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit"/>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">TOTAL TAXES ON INCOME</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">TOTAL TAXES ON INCOME</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xml:lang="en-US">TOTAL TAXES ON INCOME</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Income</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Net income</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Less: Net Income attributable to noncontrolling interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="loc_us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Income For Year Attributable To Itau Unibanco</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLoss" xlink:to="lab_us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">NET INCOME ATTRIBUTABLE TO ITAU UNIBANCO</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net income attributable to Itau Unibanco</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">NET INCOME ATTRIBUTABLE TO ITAU UNIBANCO</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xml:lang="en-US">NET INCOME ATTRIBUTABLE TO ITAU UNIBANCO</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">EARNINGS PER SHARE - BASIC</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Earnings per share &#8211; R$</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">EARNINGS PER SHARE &#8211; BASIC (*)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Common shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common (in reais per share)</label>
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    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerPreferredShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Preferred Share, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EarningsPerPreferredShareBasic" xlink:to="lab_itub_EarningsPerPreferredShareBasic"/>
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    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerPreferredShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred (in reais per share)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="loc_us-gaap_EarningsPerShareDilutedAbstract"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDilutedAbstract" xlink:to="lab_us-gaap_EarningsPerShareDilutedAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Diluted earnings per share &#8211; in R$</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerShareDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">EARNINGS PER SHARE &#8211; DILUTED (*)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted" xlink:to="lab_us-gaap_EarningsPerShareDiluted"/>
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    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerPreferredShareDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Preferred Share, Diluted</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Weighted average outstanding shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING &#8211; BASIC (*)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Common shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common (in shares)</label>
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    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageNumberOfPreferredSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted Average Number of Preferred Shares Outstanding, Basic</label>
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    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageNumberOfPreferredSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Preferred shares</label>
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    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageNumberOfPreferredSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Weighted Average Number of Preferred Shares Outstanding, Basic</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING &#8211; DILUTED (*)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Comprehensive income attributable to Itau Unibanco</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RedecardS.A.Member" xlink:label="loc_itub_RedecardS.A.Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_RedecardS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Redecard S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RedecardS.A.Member" xlink:to="lab_itub_RedecardS.A.Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_VisaMember" xlink:label="loc_itub_VisaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_VisaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Visa [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_VisaMember" xlink:to="lab_itub_VisaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AllianzMember" xlink:label="loc_itub_AllianzMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AllianzMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allianz [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AllianzMember" xlink:to="lab_itub_AllianzMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BBAHEParticipacoesS.A.Member" xlink:label="loc_itub_BBAHEParticipacoesS.A.Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_BBAHEParticipacoesS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">BBA HE Participacoes S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BBAHEParticipacoesS.A.Member" xlink:to="lab_itub_BBAHEParticipacoesS.A.Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoAndUnibancoHoldingsMember" xlink:label="loc_itub_UnibancoAndUnibancoHoldingsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoAndUnibancoHoldingsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco and Unibanco Holdings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoAndUnibancoHoldingsMember" xlink:to="lab_itub_UnibancoAndUnibancoHoldingsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaExportS.A.Member" xlink:label="loc_itub_ItausaExportS.A.Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaExportS.A.Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Export S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaExportS.A.Member" xlink:to="lab_itub_ItausaExportS.A.Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauXlSegurosCorporativosSAMember" xlink:label="loc_itub_ItauXlSegurosCorporativosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauXlSegurosCorporativosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Xl Seguros Corporativos S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauXlSegurosCorporativosSAMember" xlink:to="lab_itub_ItauXlSegurosCorporativosSAMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustment to reconcile net income to net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Adjustment to reconcile net income to net cash provided by (used in) operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfOtherAssets" xlink:label="loc_us-gaap_GainLossOnSaleOfOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss on sale of foreclosed assets, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfOtherAssets" xlink:to="lab_us-gaap_GainLossOnSaleOfOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss on sale of foreclosed assets, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">(Gain) loss on sale of foreclosed assets, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:label="loc_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Sale Of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:to="lab_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gain on sale of Allianz shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on sale of shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfStockInSubsidiaryOrEquityMethodInvestee" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Gain on sale of shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:label="loc_us-gaap_SaleOfStockConsiderationReceivedPerTransaction"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Exchange Of Equity Interest In Psiupar (Note 3.1.C)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:to="lab_us-gaap_SaleOfStockConsiderationReceivedPerTransaction"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SaleOfStockConsiderationReceivedPerTransaction" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on exchange of equity interest in Psiupar (Note 3c)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnRemeasurementOfInterestInBusiness" xlink:label="loc_itub_GainOnRemeasurementOfInterestInBusiness"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain on remeasurement of interest in Redecard S.A. (Note 3.1.b)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnRemeasurementOfInterestInBusiness" xlink:to="lab_itub_GainOnRemeasurementOfInterestInBusiness"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Remeasurement of equity interest held in Redecard S.A. (Note 3b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on remeasurement of interest in Redecard S.A (Note 3b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gain on remeasurement previously held equity interests to fair value at the date of the control acquisition.</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xml:lang="en-US">Gain on remeasurement of interest in Redecard S.A. (Note 3.1.b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnRemeasurementOfInterestInBusiness" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Gain on remeasurement of interest in Redecard S.A (Note 3b)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:label="loc_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bargain purchase gain (Note 3.1.a)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:to="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Bargain purchase gain on acquisition of Unibanco and Unibanco Holdings (Note 3a)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Bargain purchase gain (Note 3.1.a)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:role="http://www.xbrl.org/2003/role/disclosureGuidance" xml:lang="en-US">Bargain purchase gain (Note 3.1.a)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Bargain purchase gain (Note 3a)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfOtherInvestments" xlink:label="loc_us-gaap_GainLossOnSaleOfOtherInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain on sale of other unconsolidated companies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfOtherInvestments" xlink:to="lab_us-gaap_GainLossOnSaleOfOtherInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">(Gain) loss on sale of unconsolidated companies, net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfOtherInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">(Gain) loss on sale of unconsolidated companies, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock based compensation (reversal)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Share-based Compensation</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock based compensation (reversal)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAssetImpairmentCharges" xlink:label="loc_us-gaap_OtherAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impairment on available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetImpairmentCharges" xlink:to="lab_us-gaap_OtherAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other than temporary impairment on available-for-sale securities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other than temporary impairment on available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:label="loc_us-gaap_OtherNoncashIncomeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Noncash Income (Expense)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoncashIncomeExpense" xlink:to="lab_us-gaap_OtherNoncashIncomeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherNoncashIncomeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other adjustments to net income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:label="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net (gain) loss on sale of premises and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net (gain) loss on sale of premises and equipment</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Net (gain) loss on sale of premises and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill" xlink:label="loc_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impairment of Intangible Assets (Excluding Goodwill)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill" xlink:to="lab_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Impairment of Intangible Assets (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss from impairment of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends received from investments in unconsolidated companies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Dividends received from investments in unconsolidated companies</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends received from investments in unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Changes in assets and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Changes in assets and liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInTradingSecurities" xlink:label="loc_us-gaap_IncreaseDecreaseInTradingSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInTradingSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading account assets (increase) decrease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInTradingSecurities" xlink:to="lab_us-gaap_IncreaseDecreaseInTradingSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInTradingSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trading account assets (increase) decrease</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInTradingSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Trading account assets (increase) decrease</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other assets and liabilities (increase) decrease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other assets and liabilities (increase) decrease</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other assets and liabilities (increase) decrease</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net cash provided by (used in) operating activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investing activities</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits" xlink:label="loc_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net (increase) decrease in Central Bank compulsory deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits" xlink:to="lab_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net (increase) decrease in Central Bank compulsory deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseDecreaseInCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net increase or decrease in Central Bank Compulsory Deposits. The central banks of the countries where Itau Unibanco Holding operates require financial institutions, including Itau Unibanco Holding, to deposit certain funds with the Central Bank or, in case of Brazil, to purchase and hold Brazilian federal government securities.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:label="loc_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net (increase) decrease in securities purchased under resale agreements which are not in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:to="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsForSecuritiesPurchasedUnderAgreementsToResell" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net (increase) decrease in securities purchased under resale agreements which are not in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:label="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase of available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:to="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of available-for-sale securities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from sale and redemption of available-for-sale securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:to="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from sale and redemption of available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:label="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase of held-to-maturity securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:to="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of held-to-maturity securities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:label="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from matured held-to-maturity securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:to="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from matured held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase in loans and leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase in loans and leases</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansAndLeases" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Net increase in loans and leases</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates" xlink:label="loc_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisition of controlling interest in business, net of cash and cash equivalents received</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates" xlink:to="lab_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of controlling interest in business, net of cash and cash equivalents received</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Acquisition of controlling interest in business,net of cash and cash equivalents received</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAcquiredFromAcquisition" xlink:label="loc_us-gaap_CashAcquiredFromAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAcquiredFromAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and cash equivalents received on acquisition of Unibanco and Unibanco Holdings (Note 3.1.a)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAcquiredFromAcquisition" xlink:to="lab_us-gaap_CashAcquiredFromAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAcquiredFromAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and cash equivalents received on acquisition of Unibanco and Unibanco Holdings (Note 3a)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Divestiture of Interest in Consolidated Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries" xlink:to="lab_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfInterestInConsolidatedSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net cash received on sale of consolidated subsidiaries</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:label="loc_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash payment for contractual rights to provide payroll and other services to government entities and other entities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:to="lab_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash payment for contractual rights to provide payroll and other services to government entities and other entities</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Payment for Contractual Rights to Provide Payroll and Other Services to Government Entities and Other Entities</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentForContractualRightsToProvidePayrollAndOtherServicesToGovernmentEntitiesAndOtherEntities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Cash payment for contractual rights to provide payroll and other services to government entities and other entities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireIntangibleAssets" xlink:label="loc_us-gaap_PaymentsToAcquireIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash used for acquisition of intangible assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="lab_us-gaap_PaymentsToAcquireIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of intangible assets</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireIntangibleAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase of premises and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of premises and equipment</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of premises and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:label="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from sale of premises and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:to="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from sale of premises and equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfForeclosedAssets" xlink:label="loc_us-gaap_ProceedsFromSaleOfForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from sale of foreclosed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfForeclosedAssets" xlink:to="lab_us-gaap_ProceedsFromSaleOfForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from sale of foreclosed assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainLossOnContractTermination" xlink:label="loc_us-gaap_GainLossOnContractTermination"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnContractTermination" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain (Loss) on Contract Termination</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainLossOnContractTermination" xlink:to="lab_us-gaap_GainLossOnContractTermination"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainLossOnContractTermination" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash received upon termination of contracts of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase of unconsolidated companies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of unconsolidated companies</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireOtherInvestments" xlink:label="loc_us-gaap_PaymentsToAcquireOtherInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireOtherInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase of other investments recorded at cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireOtherInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireOtherInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireOtherInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of other investments recorded at cost</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsToAcquireOtherInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of other investments recorded at cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:label="loc_us-gaap_ProceedsFromSaleOfEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from sale of unconsolidated companies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:to="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from sale of unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net cash used in investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net cash used in investing activities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net cash used in investing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncreaseDecreaseInDeposits" xlink:label="loc_us-gaap_IncreaseDecreaseInDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase (decrease) in deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeposits" xlink:to="lab_us-gaap_IncreaseDecreaseInDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncreaseDecreaseInDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase (decrease) in deposits</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetIncreaseInInvestmentContract" xlink:label="loc_itub_NetIncreaseInInvestmentContract"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseInInvestmentContract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase in investment contracts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetIncreaseInInvestmentContract" xlink:to="lab_itub_NetIncreaseInInvestmentContract"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseInInvestmentContract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase in investment contracts</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseInInvestmentContract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net increase in Reserves of private retirement plans for products whose investment risk during the accumulation phase of the plans is for the account of the holders of the policies</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncreaseInInvestmentContract" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Net increase in investment contracts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:label="loc_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase (decrease) in securities sold under repurchase agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:to="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsForInSecuritiesSoldUnderAgreementsToRepurchase" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase (decrease) in securities sold under repurchase agreements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:label="loc_us-gaap_ProceedsFromRepaymentsOfShortTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net increase in short-term borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:to="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromRepaymentsOfShortTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase in short-term borrowings</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Borrowings from long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Borrowings from long-term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repayment of long-term debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Repayment of long-term debt</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Repayment of long-term debt</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForRepurchaseOfEquity" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfEquity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments for Repurchase of Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfEquity" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfEquity"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase of treasury shares</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfEquity" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Purchase of treasury shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="loc_us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from exercise of stock options by grantees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromStockOptionsExercised" xlink:to="lab_us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from Stock Options Exercised</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from exercise of stock options by grantees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromSaleOfTreasuryStock" xlink:label="loc_us-gaap_ProceedsFromSaleOfTreasuryStock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfTreasuryStock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Sale of Treasury Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfTreasuryStock" xlink:to="lab_us-gaap_ProceedsFromSaleOfTreasuryStock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromSaleOfTreasuryStock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Sale of treasury shares</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Proceeds from acquisition of share-based instruments</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Proceeds from acquisition of share-based instruments by grantees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="loc_us-gaap_PaymentsOfDividendsMinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments of Dividends, Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:to="lab_us-gaap_PaymentsOfDividendsMinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends and interest on capital paid to non-controlling interests</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:label="loc_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payment Of Common Stock Dividends and Preferred Stock Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:to="lab_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends and interest on stockholders' equity paid</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Payment of Dividends and Interest on Stockholders' Equity</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentOfCommonStockDividendsAndPreferredStockDividends" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Dividends and interest on stockholders' equity paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromPaymentsToMinorityShareholders" xlink:label="loc_us-gaap_ProceedsFromPaymentsToMinorityShareholders"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Proceeds from (Payments to) Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPaymentsToMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromPaymentsToMinorityShareholders"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProceedsFromPaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Noncontrolling interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net cash provided by (used in) financing activities</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net cash provided by (used in) financing activities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Increase In Cash and Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net increase in cash and cash equivalents</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Net increase in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValueAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents, At Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">TOTAL</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">At the end of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">At the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">At the end of the year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Supplemental cash flow disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Supplemental cash flow disclosure</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestPaid" xlink:label="loc_us-gaap_InterestPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash paid for interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaid" xlink:to="lab_us-gaap_InterestPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash paid for interest</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxesPaid" xlink:label="loc_us-gaap_IncomeTaxesPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash paid for taxes on income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaid" xlink:to="lab_us-gaap_IncomeTaxesPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxesPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash paid for taxes on income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non-cash transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Non-cash transactions</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TransferFromLoansToForeclosedAssets" xlink:label="loc_itub_TransferFromLoansToForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_TransferFromLoansToForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans transferred to foreclosed assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TransferFromLoansToForeclosedAssets" xlink:to="lab_itub_TransferFromLoansToForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_TransferFromLoansToForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans transferred to foreclosed assets</label>
    <label xlink:type="resource" xlink:label="lab_itub_TransferFromLoansToForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Transfer From Loans To Foreclosed Assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid" xlink:label="loc_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends and interest on stockholders' equity declared but not paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid" xlink:to="lab_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends and interest on stockholders' equity declared but not paid</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsAndInterestOnStockholdersEquityDeclaredButNotPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Dividends and interest on stockholders' equity declared but not paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssued1" xlink:label="loc_us-gaap_StockIssued1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssued1" xlink:to="lab_us-gaap_StockIssued1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssued1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Shares issued in connection with acquisition</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ExchangeOfEquityInterestForBusiness" xlink:label="loc_itub_ExchangeOfEquityInterestForBusiness"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExchangeOfEquityInterestForBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Exchange of equity interest in Psiupar (Note 3.1.c)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ExchangeOfEquityInterestForBusiness" xlink:to="lab_itub_ExchangeOfEquityInterestForBusiness"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExchangeOfEquityInterestForBusiness" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Exchange of equity interest in Psiupar (Note 3c)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ExchangeOfEquityInterestForBusiness" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Exchange of equity interest for business.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Statement, Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Statement, Equity Components [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity Component [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="loc_us-gaap_TreasuryStockMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockMember" xlink:to="lab_us-gaap_TreasuryStockMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAppropriatedMember" xlink:label="loc_us-gaap_RetainedEarningsAppropriatedMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAppropriatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Appropriated retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAppropriatedMember" xlink:to="lab_us-gaap_RetainedEarningsAppropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:label="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net unrealized gains (losses) on available-for-sale securities, net of taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember" xlink:to="lab_us-gaap_AccumulatedNetUnrealizedInvestmentGainLossMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" xlink:label="loc_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash flow hedge - effective portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember" xlink:to="lab_us-gaap_AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedTranslationAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedTranslationAdjustmentMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cumulative translation adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedTranslationAdjustmentMember" xlink:to="lab_us-gaap_AccumulatedTranslationAdjustmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:label="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined benefit of pension plans and other post-retirement plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember" xlink:to="lab_us-gaap_AccumulatedDefinedBenefitPlansAdjustmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsUnappropriatedMember" xlink:label="loc_us-gaap_RetainedEarningsUnappropriatedMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsUnappropriatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unappropriated retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsUnappropriatedMember" xlink:to="lab_us-gaap_RetainedEarningsUnappropriatedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ParentMember" xlink:label="loc_us-gaap_ParentMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total stockholders' equity of Itau Unibanco</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noncontroling interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CapitalStockAbstract" xlink:label="loc_itub_CapitalStockAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalStockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CapitalStockAbstract" xlink:to="lab_itub_CapitalStockAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalStockAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capital stock</label>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalStockAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Capital stock</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesIssued" xlink:label="loc_us-gaap_SharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Shares, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesIssued" xlink:to="lab_us-gaap_SharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance at the end of the year (A)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Balance at the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance (in shares)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesIssued" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period, Shares, Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesAcquisitions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Issuance of shares of Itau Unibanco for acquisition of Unibanco and Unibanco Holdings (Note 3.1.a) (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Exchange Of Shares Of Itau Unibanco S.A Held By Itausa For Shares Of Itau Unibanco Holding (Note 3.2.A)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Exchange of shares of Itau Unibanco S.A. held by Itausa for shares of Itau Unibanco Holding (Note 3d) (in shares)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Repurchased and Retired During Period, Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cancellation of treasury stock (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract" xlink:label="loc_us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockNumberOfSharesAndRestrictionDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period, Shares, Treasury Stock Reissued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesTreasuryStockReissued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock purchased by grantees of our Stock Option Plan (Note 26) (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisition of treasury stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesAcquired" xlink:to="lab_us-gaap_TreasuryStockSharesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of treasury stock (in shares)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockSharesRetired" xlink:label="loc_us-gaap_TreasuryStockSharesRetired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockSharesRetired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock, Shares, Retired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesRetired" xlink:to="lab_us-gaap_TreasuryStockSharesRetired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockSharesRetired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cancellation of treasury stock (in shares)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares" xlink:label="loc_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan In Excess Of Individual Accounts Of Participants Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares" xlink:to="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Itau Unibanco Holding stock held by Itaubanco defined contribution plan in excess of the individual accounts of participants (Note 25) (in shares)</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Defined contribution plan in excess of the individual accounts of the participants, shares.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments exercised (in shares)</label>

    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="loc_us-gaap_SharesOutstanding"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Shares, Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesOutstanding" xlink:to="lab_us-gaap_SharesOutstanding"/>

    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Outstanding capital at the end of the year - C = A - B</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance (in shares)</label>
        <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance Of Shares In Connection With Acquisition Of Bank Boston Operations In Uruguay and Chile (Notes 3.2.C and 3.2.D)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Issuance of shares of Itau Unibanco for acquisition of Unibanco and Unibanco Holdings (Note 3a)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CapitalizationOfReserves" xlink:label="loc_itub_CapitalizationOfReserves"/>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalizationOfReserves" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capitalization of reserves</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CapitalizationOfReserves" xlink:to="lab_itub_CapitalizationOfReserves"/>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalizationOfReserves" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capitalization of reserves</label>
    <label xlink:type="resource" xlink:label="lab_itub_CapitalizationOfReserves" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Capitalization of Reserves</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Issued During Period, Value, Treasury Stock Reissued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueTreasuryStockReissued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock purchased by grantees of our Stock Option Plan (Note 26)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:label="loc_us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock, Value, Acquired, Cost Method</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:to="lab_us-gaap_TreasuryStockValueAcquiredCostMethod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of treasury stock</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockValueAcquiredCostMethod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Acquisition of treasury stock</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue" xlink:label="loc_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan In Excess Of Individual Accounts Of Participants Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue" xlink:to="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Itau Unibanco Holding stocks held by Itaubanco defined contribution plan in excess of the individual accounts of the participants on March 31, 2010 (Note 25)</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanInExcessOfIndividualAccountsOfParticipantsValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Defined contribution plan in excess of the individual accounts of the participants, value.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Based Compensation Recognized For Year (Note 26)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock-based compensation recognized for the year (Note 26)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisition Of Stock Options Of Unibanco</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of stock options of Unibanco</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest" xlink:label="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustments To Additional Paid In Capital, Reallocation Of Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest" xlink:to="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Additional interest in controlled subsidiary</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice" xlink:label="loc_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Difference between purchase price and average cost of treasury stock sold</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice" xlink:to="lab_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Difference between purchase price and average cost of treasury stock sold</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockReissuedAtLowerThanRepurchasePrice" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Difference between proceeds and average cost of treasury stock sold</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash paid and shares of subsidiary issued in the acquisition of interest in Itausa Export S.A. (Note 3.2.d)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash paid and shares of subsidiary issued in the acquisition of interest in Ita&#250;sa Export S.A.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital" xlink:label="loc_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Difference between fair value of shares issued in acquisitions statutory amount of increase in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital" xlink:to="lab_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Difference between the fair value of shares issued in acquisitions and the amount of statutory capital increase</label>
    <label xlink:type="resource" xlink:label="lab_itub_DifferenceBetweenFairValueOfSharesIssuedInAcquisitionsStatutoryAmountOfIncreaseInCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Difference Between Fair Value of Shares Issued in Acquisitions Statutory Amount of Increase in Capital</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:label="loc_itub_TransferToRetainedEarningsAppropriatedForLegalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transfer for increase in capital stock through reserves</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:to="lab_itub_TransferToRetainedEarningsAppropriatedForLegalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Transfer for increase in capital stock through reserves</label>
    <label xlink:type="resource" xlink:label="lab_itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Transfer to retained earnings appropriated for legal reserve</label>
    <label xlink:type="resource" xlink:label="lab_itub_TransferToRetainedEarningsAppropriatedForLegalReserve" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Transfer for increase in capital stock through reserves</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:label="loc_us-gaap_TreasuryStockRetiredCostMethodAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock, Retired, Cost Method, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:to="lab_us-gaap_TreasuryStockRetiredCostMethodAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TreasuryStockRetiredCostMethodAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cancellation of treasury stock</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TransferFromRetainedEarnings" xlink:label="loc_itub_TransferFromRetainedEarnings"/>
    <label xlink:type="resource" xlink:label="lab_itub_TransferFromRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transfer of retained earnings to reserves</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TransferFromRetainedEarnings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Transfer of retained earnings to reserves</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisition of shares of non-controlling interest in Itau BBA Participacues (Note 3.2.b)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of shares of non-controlling interest in Itau BBA Participacues (Note 3.2.b)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Exchange of shares of Itau Unibanco for shares of Itau Unibanco Holding (Note 3.2.a)</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Exchange of shares of Itau Unibanco for shares of Itau Unibanco Holding (Note 3a)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterestIncreaseFromStockIssuance" xlink:label="loc_us-gaap_MinorityInterestIncreaseFromStockIssuance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestIncreaseFromStockIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisition of Shares of Redecard (Note 3.1.b)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestIncreaseFromStockIssuance" xlink:to="lab_us-gaap_MinorityInterestIncreaseFromStockIssuance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestIncreaseFromStockIssuance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition of control of Redecard (Note 3b)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinorityInterestPeriodIncreaseDecrease" xlink:label="loc_us-gaap_MinorityInterestPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noncontrolling interests on subsidiaries of Unibanco (Note 3.1.a)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestPeriodIncreaseDecrease" xlink:to="lab_us-gaap_MinorityInterestPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinorityInterestPeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Noncontrolling interests of subsidiaries of Unibanco (Note 3a)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConstitutionOfRTEnterpriseCP" xlink:label="loc_itub_ConstitutionOfRTEnterpriseCP"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRTEnterpriseCP" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Constitution Of Rt Enterprise Cp</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConstitutionOfRTEnterpriseCP" xlink:to="lab_itub_ConstitutionOfRTEnterpriseCP"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRTEnterpriseCP" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Change in interest in RT Enterprise CP</label>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRTEnterpriseCP" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Constitution of RT Enterprise CP</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConstitutionOfRtNationalRf" xlink:label="loc_itub_ConstitutionOfRtNationalRf"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRtNationalRf" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Constitution Of Rt National Rf</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConstitutionOfRtNationalRf" xlink:to="lab_itub_ConstitutionOfRtNationalRf"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRtNationalRf" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Constitution of RT National RF</label>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfRtNationalRf" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Constitution of RT National RF.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Dividends" xlink:label="loc_us-gaap_Dividends"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Dividends" xlink:to="lab_us-gaap_Dividends"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Distribution of dividends and interest on stockholders' equity</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Distribution of dividends and interest on stockholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityOther" xlink:label="loc_us-gaap_StockholdersEquityOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityOther" xlink:to="lab_us-gaap_StockholdersEquityOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockholdersEquityOther" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DistributedEarningsInterestOnStockholdersEquityAbstract" xlink:label="loc_itub_DistributedEarningsInterestOnStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DistributedEarningsInterestOnStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Distributed earnings (interest on stockholders' equity)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DistributedEarningsInterestOnStockholdersEquityAbstract" xlink:to="lab_itub_DistributedEarningsInterestOnStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DistributedEarningsInterestOnStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Distributed earnings (interest on stockholders' equity)</label>
    <label xlink:type="resource" xlink:label="lab_itub_DistributedEarningsInterestOnStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Distributed earnings (interest on stockholders' equity)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_PreferredStockDividendsPerShareCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock, Dividends, Per Share, Cash Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:to="lab_us-gaap_PreferredStockDividendsPerShareCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares (in reais per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:to="lab_us-gaap_CommonStockDividendsPerShareCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Common shares (in reais per share)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">DESCRIPTION OF BUSINESS AND BASIS OF CONSOLIDATION.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">DESCRIPTION OF BUSINESS AND BASIS OF CONSOLIDATION.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accounting Policies [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">SIGNIFICANT ACCOUNTING POLICIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="lab_us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">SIGNIFICANT ACCOUNTING POLICIES</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combinations [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationsAbstract" xlink:to="lab_us-gaap_BusinessCombinationsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Combinations [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">BUSINESS DEVELOPMENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">BUSINESS DEVELOPMENTS</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAbstract" xlink:label="loc_us-gaap_CashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAbstract" xlink:to="lab_us-gaap_CashAndCashEquivalentsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and Cash Equivalents [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:label="loc_us-gaap_CashAndCashEquivalentsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndCashEquivalentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">CASH AND CASH EQUIVALENTS</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CentralBankCompulsoryNotesAbstract" xlink:label="loc_itub_CentralBankCompulsoryNotesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryNotesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Central Bank Compulsory Notes [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CentralBankCompulsoryNotesAbstract" xlink:to="lab_itub_CentralBankCompulsoryNotesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryNotesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Notes to Financial Statements [Abstract]</label>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryNotesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Central Bank Compulsory Notes [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CentralBankCompulsoryDepositsDisclosureTextBlock" xlink:label="loc_itub_CentralBankCompulsoryDepositsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryDepositsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Central Bank Compulsory Deposits Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CentralBankCompulsoryDepositsDisclosureTextBlock" xlink:to="lab_itub_CentralBankCompulsoryDepositsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryDepositsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">CENTRAL BANK COMPULSORY DEPOSITS</label>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryDepositsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Central Bank Compulsory Deposits Disclosure. The central banks of the countries where Itau Unibanco Holding operates require financial institutions, including Itau Unibanco Holding, to deposit certain funds with the Central Bank or, in case of Brazil, to purchase and hold Brazilian federal government securities.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:label="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investments, Debt and Equity Securities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract" xlink:to="lab_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy" xlink:label="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy" xlink:to="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentAllowanceAndNonperformingLoansPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finance, Loan and Lease Receivables, Held-for-investment, Allowance and Nonperforming Loans, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:label="loc_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:to="lab_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableAllowanceForLoanLossesPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentsPolicy" xlink:label="loc_us-gaap_EquityMethodInvestmentsPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investments, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsPolicy" xlink:to="lab_us-gaap_EquityMethodInvestmentsPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentsPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity Method Investments, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy" xlink:label="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy" xlink:to="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinanceLoanAndLeaseReceivablesHeldForInvestmentsForeclosedAssetsPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill and Intangible Assets, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:to="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill and Intangible Assets, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock" xlink:label="loc_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Insurance Private Retirement Plans and Capitalization Plans Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock" xlink:to="lab_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accounting policy relating to insurance, private retirement plans and capitalization plans.</label>
    <label xlink:type="resource" xlink:label="lab_itub_InsurancePrivateRetirementPlansAndCapitalizationPlansPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Insurance Private Retirement Plans and Capitalization Plans Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredPolicyAcquisitionCostsTextBlock" xlink:label="loc_us-gaap_DeferredPolicyAcquisitionCostsTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Policy Acquisition Costs [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredPolicyAcquisitionCostsTextBlock" xlink:to="lab_us-gaap_DeferredPolicyAcquisitionCostsTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCostsTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred Policy Acquisition Costs [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementPlansPolicy" xlink:label="loc_us-gaap_PensionAndOtherPostretirementPlansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension and Other Postretirement Plans, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementPlansPolicy" xlink:to="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PensionAndOtherPostretirementPlansPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension and Other Postretirement Plans, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies" xlink:label="loc_us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Guarantees, Indemnifications and Warranties Policies [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies" xlink:to="lab_us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteesIndemnificationsAndWarrantiesPolicies" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Guarantees, Indemnifications and Warranties Policies [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingentGainsAndLossesPolicyTextBlock" xlink:label="loc_itub_ContingentGainsAndLossesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentGainsAndLossesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingent Gains and Losses Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingentGainsAndLossesPolicyTextBlock" xlink:to="lab_itub_ContingentGainsAndLossesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentGainsAndLossesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy relating to contingent gains and losses.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentGainsAndLossesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contingent Gains and Losses Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockPolicyTextBlock" xlink:label="loc_itub_TreasuryStockPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockPolicyTextBlock" xlink:to="lab_itub_TreasuryStockPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy relating to treasury stock.</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Treasury Stock Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestOnStockholdersEquityPolicyTextBlock" xlink:label="loc_itub_InterestOnStockholdersEquityPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest On Stockholders Equity Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestOnStockholdersEquityPolicyTextBlock" xlink:to="lab_itub_InterestOnStockholdersEquityPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of accounting policy relating to notional interest charge on stockholders' equity.</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest On Stockholders Equity Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RevenueRecognitionServicesCommissions" xlink:label="loc_us-gaap_RevenueRecognitionServicesCommissions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RevenueRecognitionServicesCommissions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Revenue Recognition, Services, Commissions [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionServicesCommissions" xlink:to="lab_us-gaap_RevenueRecognitionServicesCommissions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RevenueRecognitionServicesCommissions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Revenue Recognition, Services, Commissions [Policy Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock" xlink:label="loc_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Recently Accounting Guidance Applicable For Current Period Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock" xlink:to="lab_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of recently issued accounting guidance applicable for current period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForCurrentPeriodPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recently Accounting Guidance Applicable For Current Period Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock" xlink:label="loc_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Recently Accounting Guidance Applicable For Future Periods Policy [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock" xlink:to="lab_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Disclosure of recently issued accounting guidance applicable for future periods.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RecentlyAccountingGuidanceApplicableForFuturePeriodsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recently Accounting Guidance Applicable For Future Periods Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract" xlink:label="loc_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description Of Business and Basis Of Consolidation [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract" xlink:to="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Description Of Business and Basis Of Consolidation</label>
    <label xlink:type="resource" xlink:label="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Description Of Business and Basis Of Consolidation [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ListOfMainSubsidiariesTextBlock" xlink:label="loc_itub_ListOfMainSubsidiariesTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ListOfMainSubsidiariesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">List Of Main Subsidiaries [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ListOfMainSubsidiariesTextBlock" xlink:to="lab_itub_ListOfMainSubsidiariesTextBlock"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ListOfMainSubsidiariesTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">List Of Main Subsidiaries [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SignificantAccountingPoliciesTablesAbstract" xlink:label="loc_itub_SignificantAccountingPoliciesTablesAbstract"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionOneAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionTwoAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Recognized Identified Assets Acquired and Liabilities Acquisition Two Assumed [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionTwoAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionTwoAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Recognized Identified Assets Acquired and Liabilities Acquisition Two Assumed [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionThreeAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAcquisitionThreeAssumedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Recognized Identified Assets Acquired and Liabilities Acquisition Three Assumed [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessCombinationStepAcquisitionDisclosureTableTextBlock" xlink:label="loc_itub_BusinessCombinationStepAcquisitionDisclosureTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessCombinationStepAcquisitionDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Step Acquisition Disclosure [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BusinessCombinationStepAcquisitionDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Combination Step Acquisition Disclosure [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CashAndCashEquivalentsTablesAbstract" xlink:label="loc_itub_CashAndCashEquivalentsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndCashEquivalentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_CashAndCashEquivalentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Cash and Cash Equivalents (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndCashEquivalentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and Cash Equivalents (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Cash and Cash Equivalents [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Cash and Cash Equivalents [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CentralBankCompulsoryDepositsTablesAbstract" xlink:label="loc_itub_CentralBankCompulsoryDepositsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryDepositsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Central Bank Compulsory Deposits (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CentralBankCompulsoryDepositsTablesAbstract" xlink:to="lab_itub_CentralBankCompulsoryDepositsTablesAbstract"/>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock" xlink:label="loc_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Compulsory Deposits Maintained By Type and Amount [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock" xlink:to="lab_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of compulsory deposits maintained by type and amounts.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCompulsoryDepositsMaintainedByTypeAndAmountTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Compulsory Deposits Maintained By Type and Amount [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradingAssetsTablesAbstract" xlink:label="loc_itub_TradingAssetsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradingAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading Assets (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradingAssetsTablesAbstract" xlink:to="lab_itub_TradingAssetsTablesAbstract"/>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AvailableForSaleSecuritiesTablesAbstract" xlink:label="loc_itub_AvailableForSaleSecuritiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available For Sale Securities (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AvailableForSaleSecuritiesTablesAbstract" xlink:to="lab_itub_AvailableForSaleSecuritiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Available For Sale Securities (Tables)</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Available-for-sale Securities Reconciliation [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesReconciliationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Available-for-sale Securities Reconciliation [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReclassificationOfOtherComprehensiveIncomeOnAvailableForSaleSecuritiesTableTextBlock" xlink:label="loc_itub_ReclassificationOfOtherComprehensiveIncomeOnAvailableForSaleSecuritiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfOtherComprehensiveIncomeOnAvailableForSaleSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reclassification Of Other Comprehensive Income On Available For Sale Securities [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfOtherComprehensiveIncomeOnAvailableForSaleSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amounts reclassified from other accumulated comprehensive income on available for sale securities.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfOtherComprehensiveIncomeOnAvailableForSaleSecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Reclassification Of Other Comprehensive Income On Available For Sale Securities [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AmortizedCostAndFairValueOfAvailableForSaleSecuritiesByMaturityTableTextBlock" xlink:label="loc_itub_AmortizedCostAndFairValueOfAvailableForSaleSecuritiesByMaturityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndFairValueOfAvailableForSaleSecuritiesByMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortized Cost and Fair Value Of Available For Sale Securities By Maturity [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndFairValueOfAvailableForSaleSecuritiesByMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of amortized cost and fair value of available for sale securities by maturity.</label>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndFairValueOfAvailableForSaleSecuritiesByMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortized Cost and Fair Value Of Available For Sale Securities By Maturity [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_HeldToMaturitySecuritiesTablesAbstract" xlink:label="loc_itub_HeldToMaturitySecuritiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_HeldToMaturitySecuritiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Held To Maturity Securities Tables [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_HeldToMaturitySecuritiesTablesAbstract" xlink:to="lab_itub_HeldToMaturitySecuritiesTablesAbstract"/>
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    <label xlink:type="resource" xlink:label="lab_itub_HeldToMaturitySecuritiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Held To Maturity Securities Tables [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AmortizedCostAndCorrespondingFairValueOfHeldToMaturitySecuritiesTableTextBlock" xlink:label="loc_itub_AmortizedCostAndCorrespondingFairValueOfHeldToMaturitySecuritiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndCorrespondingFairValueOfHeldToMaturitySecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortized Cost and Corresponding Fair Value Of Held To Maturity Securities [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndCorrespondingFairValueOfHeldToMaturitySecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of amortized cost and corresponding fair value of held-to-maturity securities.</label>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndCorrespondingFairValueOfHeldToMaturitySecuritiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortized Cost and Corresponding Fair Value Of Held To Maturity Securities [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndFairValueOfHeldToMaturitySecuritiesByMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortized Cost and Fair Value Of Held To Maturity Securities By Maturity [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AmortizedCostAndFairValueOfHeldToMaturitySecuritiesByMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of amortized cost and fair value of held to maturity securities by maturity.</label>
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    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">LOANS AND LEASES (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and Leases (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivables [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Impaired Financing Receivables [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_LoansPastDueAgeAnalysisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans Past Due Age Analysis [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LoansPastDueAgeAnalysisTableTextBlock" xlink:to="lab_itub_LoansPastDueAgeAnalysisTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansPastDueAgeAnalysisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the age analysis of the past due loans as at the reporting date.</label>
    <label xlink:type="resource" xlink:label="lab_itub_LoansPastDueAgeAnalysisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans Past Due Age Analysis [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:label="loc_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Measurement Of Levels Of Risk By Pd and Indicators Of Credit Quality [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:to="lab_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Measurement Of Levels Of Risk By Pd and Indicators Of Credit Quality [Table Text Block]</label>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Correlation between the levels of risk as measured by the PD and the indicators of credit quality disclosed.</label>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRiskByPdAndIndicatorsOfCreditQualityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Measurement Of Levels Of Risk By Pd and Indicators Of Credit Quality [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:label="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable Credit Quality Indicators [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:to="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Financing Receivable Credit Quality Indicators [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock" xlink:label="loc_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ratio Of Performing and Nonperforming Loans To Total Loans [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock" xlink:to="lab_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of ratio of performing and non-performing loans to total loans.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfPerformingAndNonperformingLoansToTotalLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Ratio Of Performing and Nonperforming Loans To Total Loans [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock" xlink:label="loc_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Impaired Loans Purchased Under Business Combination [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock" xlink:to="lab_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Credit Impaired Loans Purchased Under Business Combination.</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditImpairedLoansPurchasedUnderBusinessCombinationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Credit Impaired Loans Purchased Under Business Combination [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock" xlink:label="loc_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accretable Yield Activity On Credit Impaired Loans [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock" xlink:to="lab_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure on accretable yield activity on credit impaired loans.</label>
    <label xlink:type="resource" xlink:label="lab_itub_AccretableYieldActivityOnCreditImpairedLoansTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accretable Yield Activity On Credit Impaired Loans [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AllowanceForLoanAndLeaseLossesTablesAbstract" xlink:label="loc_itub_AllowanceForLoanAndLeaseLossesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance For Loan and Lease Losses (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AllowanceForLoanAndLeaseLossesTablesAbstract" xlink:to="lab_itub_AllowanceForLoanAndLeaseLossesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Allowance For Loan and Lease Losses (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Allowance For Loan and Lease Losses (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:label="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance for Credit Losses on Financing Receivables [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Allowance for Credit Losses on Financing Receivables [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FinanceReceivableBySegmentAndByClassesTableTextBlock" xlink:label="loc_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finance Receivable By Segment and By Classes [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock" xlink:to="lab_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of finance receivables balances by segment and by classes and its related allowance for losses, including the break down of the loans by the method of calculating the impairment (individually and collectively).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FinanceReceivableBySegmentAndByClassesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finance Receivable By Segment and By Classes [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract" xlink:label="loc_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investments In Unconsolidated Companies (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract" xlink:to="lab_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">INVESTMENTS IN UNCONSOLIDATED COMPANIES (Tables)</label>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentsInUnconsolidatedCompaniesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investments In Unconsolidated Companies (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock" xlink:label="loc_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Equity and Cost Method Investments [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock" xlink:to="lab_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of equity and cost method investments as at the reporting period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEquityAndCostMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Equity and Cost Method Investments [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock" xlink:label="loc_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Summarized Financial Information Of Equity Method Investments [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock" xlink:to="lab_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Summarized financial information of equity method investments.</label>
    <label xlink:type="resource" xlink:label="lab_itub_SummarizedFinancialInformationOfEquityMethodInvestmentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Summarized Financial Information Of Equity Method Investments [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PremisesAndEquipmentTablesAbstract" xlink:label="loc_itub_PremisesAndEquipmentTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Premises and Equipment (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PremisesAndEquipmentTablesAbstract" xlink:to="lab_itub_PremisesAndEquipmentTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">PREMISES AND EQUIPMENT (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Premises and Equipment (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GoodwillAndIntangibleAssetsTablesAbstract" xlink:label="loc_itub_GoodwillAndIntangibleAssetsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill and Intangible Assets (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GoodwillAndIntangibleAssetsTablesAbstract" xlink:to="lab_itub_GoodwillAndIntangibleAssetsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">GOODWILL AND INTANGIBLE ASSETS (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill and Intangible Assets (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfGoodwillTextBlock" xlink:label="loc_us-gaap_ScheduleOfGoodwillTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Goodwill [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfGoodwillTextBlock" xlink:to="lab_us-gaap_ScheduleOfGoodwillTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfGoodwillTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Goodwill [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IntangibleAssetsDisclosuresTableTextBlock" xlink:label="loc_itub_IntangibleAssetsDisclosuresTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible Assets Disclosures [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IntangibleAssetsDisclosuresTableTextBlock" xlink:to="lab_itub_IntangibleAssetsDisclosuresTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for all or part of the information related to intangible assets.</label>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsDisclosuresTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Intangible Assets Disclosures [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:to="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock" xlink:label="loc_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Definite and Indefinite Life [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock" xlink:to="lab_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular Disclosure relating to indefinite and definite life intangible assets.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDefiniteAndIndefiniteLifeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Definite and Indefinite Life [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherAssetsTablesAbstract" xlink:label="loc_itub_OtherAssetsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Assets (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherAssetsTablesAbstract" xlink:to="lab_itub_OtherAssetsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherAssetsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Assets (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DepositsTablesAbstract" xlink:label="loc_itub_DepositsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DepositsTablesAbstract" xlink:to="lab_itub_DepositsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">DEPOSITS (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfDepositLiabilitiesTableTextBlock" xlink:label="loc_itub_ScheduleOfDepositLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Deposit Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfDepositLiabilitiesTableTextBlock" xlink:to="lab_itub_ScheduleOfDepositLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of interest bearing and non-interest bearing deposit liabilities as at the reporting date.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDepositLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Deposit Liabilities [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShortTermBorrowingsTablesAbstract" xlink:label="loc_itub_ShortTermBorrowingsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short-Term Borrowings (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShortTermBorrowingsTablesAbstract" xlink:to="lab_itub_ShortTermBorrowingsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Short-Term Borrowings (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Short-Term Borrowings (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:label="loc_us-gaap_ScheduleOfShortTermDebtTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Short-term Debt [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:to="lab_us-gaap_ScheduleOfShortTermDebtTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShortTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Short-term Debt [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock" xlink:label="loc_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short Term Borrowings Interest Rates Applicable [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock" xlink:to="lab_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">ShortTerm Borrowings Interest Rates Applicable</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of applicable interest rates by type of borrowings.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LongTermDebtTablesAbstract" xlink:label="loc_itub_LongTermDebtTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LongTermDebtTablesAbstract" xlink:to="lab_itub_LongTermDebtTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">LONG TERM DEBT (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long Term Debt (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfLongTermDebtTableTextBlock" xlink:label="loc_itub_ScheduleOfLongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Long Term Debt [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfLongTermDebtTableTextBlock" xlink:to="lab_itub_ScheduleOfLongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of long-term debt arrangements (having initial terms of repayment greater than the normal operating cycle of the entity, if longer.)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Long Term Debt [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfEuronotesTableTextBlock" xlink:label="loc_itub_ScheduleOfEuronotesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEuronotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Euronotes [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfEuronotesTableTextBlock" xlink:to="lab_itub_ScheduleOfEuronotesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEuronotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabluar disclosure for euronotes.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEuronotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Euronotes [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfFixedRateNotesTableTextBlock" xlink:label="loc_itub_ScheduleOfFixedRateNotesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfFixedRateNotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Fixed Rate Notes [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfFixedRateNotesTableTextBlock" xlink:to="lab_itub_ScheduleOfFixedRateNotesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfFixedRateNotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for fixed rate notes.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfFixedRateNotesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Fixed Rate Notes [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock" xlink:label="loc_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Line Of Credit Facilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock" xlink:to="lab_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfLineOfCreditFacilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Line Of Credit Facilities [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock" xlink:label="loc_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Interest Rates On Foreign Currency Denominated Balances [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock" xlink:to="lab_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of interest rates on foreign currency denominated balances.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfInterestRatesOnForeignCurrencyDenominatedBalancesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Interest Rates On Foreign Currency Denominated Balances [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfDebenturesTableTextBlock" xlink:label="loc_itub_ScheduleOfDebenturesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDebenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Debentures [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfDebenturesTableTextBlock" xlink:to="lab_itub_ScheduleOfDebenturesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDebenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabluar disclosure for debentures.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDebenturesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Debentures [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:label="loc_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Subordinated Borrowing [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:to="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfSubordinatedBorrowingTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Subordinated Borrowing [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Maturities of Long-term Debt [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Maturities of Long-term Debt [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherLiabilitiesTablesAbstract" xlink:label="loc_itub_OtherLiabilitiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Liabilities (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherLiabilitiesTablesAbstract" xlink:to="lab_itub_OtherLiabilitiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other Liabilities (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Liabilities (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfOtherLiabilitiesTextBlock" xlink:label="loc_itub_ScheduleOfOtherLiabilitiesTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Other Liabilities [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfOtherLiabilitiesTextBlock" xlink:to="lab_itub_ScheduleOfOtherLiabilitiesTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of other assets and other liabilities not separately disclosed on the balance sheet.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherLiabilitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Other Liabilities [Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StockholdersEquityTablesAbstract" xlink:label="loc_itub_StockholdersEquityTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders Equity (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StockholdersEquityTablesAbstract" xlink:to="lab_itub_StockholdersEquityTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Stockholders Equity (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stockholders Equity (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfCapitalTableTextBlock" xlink:label="loc_itub_ScheduleOfCapitalTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCapitalTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Capital [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfCapitalTableTextBlock" xlink:to="lab_itub_ScheduleOfCapitalTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCapitalTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of number of common and preferred shares issued.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfCapitalTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Capital [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:label="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Treasury Stock by Class [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:to="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfTreasuryStockByClassTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Treasury Stock by Class [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock" xlink:label="loc_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Appropriated Retained Earnings [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock" xlink:to="lab_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of appropriate retained earnings.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAppropriatedRetainedEarningsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Appropriated Retained Earnings [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EarningsPerShareTablesAbstract" xlink:label="loc_itub_EarningsPerShareTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EarningsPerShareTablesAbstract" xlink:to="lab_itub_EarningsPerShareTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">EARNINGS PER SHARE (Tables)</label>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings Per Share (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfEarningsPerShareBasicTableTextBlock" xlink:label="loc_itub_ScheduleOfEarningsPerShareBasicTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareBasicTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Earnings Per Share Basic [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfEarningsPerShareBasicTableTextBlock" xlink:to="lab_itub_ScheduleOfEarningsPerShareBasicTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareBasicTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of an entity's basic earnings per share calculations.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareBasicTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Earnings Per Share Basic [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfEarningsPerShareDilutedTableTextBlock" xlink:label="loc_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Earnings Per Share Diluted [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock" xlink:to="lab_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of an entity's Diluted earnings per share calculations.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfEarningsPerShareDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Earnings Per Share Diluted [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeTablesAbstract" xlink:label="loc_itub_TaxesOnIncomeTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeTablesAbstract" xlink:to="lab_itub_TaxesOnIncomeTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock" xlink:label="loc_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Tax Rates Applicable To Financial Institutions [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock" xlink:to="lab_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the tax rates applicable to financial institutions.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfTaxRatesApplicableToFinancialInstitutionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Tax Rates Applicable To Financial Institutions [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Deferred Tax Assets and Liabilities [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock" xlink:label="loc_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Changes In Unrecognized Tax Benefits [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock" xlink:to="lab_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of changes in unrecognized tax benefits.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Changes In Unrecognized Tax Benefits [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock" xlink:label="loc_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Changes In Interest and Penalties Included In Unrecognized Tax Benefits [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock" xlink:to="lab_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of changes in interest and penalties included in unrecognized tax benefits.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInInterestAndPenaltiesIncludedInUnrecognizedTaxBenefitsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Changes In Interest and Penalties Included In Unrecognized Tax Benefits [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FeeAndCommissionIncomeTablesAbstract" xlink:label="loc_itub_FeeAndCommissionIncomeTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fee and Commission Income (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FeeAndCommissionIncomeTablesAbstract" xlink:to="lab_itub_FeeAndCommissionIncomeTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FEE AND COMMISSION INCOME (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fee and Commission Income (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FeesAndCommissionIncomeTableTextBlock" xlink:label="loc_itub_FeesAndCommissionIncomeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeesAndCommissionIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fees and Commission Income [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FeesAndCommissionIncomeTableTextBlock" xlink:to="lab_itub_FeesAndCommissionIncomeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeesAndCommissionIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of fees and commission income.</label>
    <label xlink:type="resource" xlink:label="lab_itub_FeesAndCommissionIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fees and Commission Income [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdministrativeExpensesTablesAbstract" xlink:label="loc_itub_AdministrativeExpensesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Administrative Expenses (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdministrativeExpensesTablesAbstract" xlink:to="lab_itub_AdministrativeExpensesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">ADMINISTRATIVE EXPENSES (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Administrative Expenses (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfAdministrativeExpenseTableTextBlock" xlink:label="loc_itub_ScheduleOfAdministrativeExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Administrative Expense [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfAdministrativeExpenseTableTextBlock" xlink:to="lab_itub_ScheduleOfAdministrativeExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of administrative expenses.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfAdministrativeExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Administrative Expense [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNonInterestIncomeAndExpensesTablesAbstract" xlink:label="loc_itub_OtherNonInterestIncomeAndExpensesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Non-Interest Income and Expenses (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNonInterestIncomeAndExpensesTablesAbstract" xlink:to="lab_itub_OtherNonInterestIncomeAndExpensesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">OTHER NON-INTEREST INCOME AND EXPENSES (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Non-Interest Income and Expenses (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfOtherNoninterestIncomeTableTextBlock" xlink:label="loc_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Other Noninterest Income [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock" xlink:to="lab_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of other noninterest income.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Other Noninterest Income [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfOtherNoninterestExpenseTableTextBlock" xlink:label="loc_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Other Noninterest Expense [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock" xlink:to="lab_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for other noninterest expense.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfOtherNoninterestExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Other Noninterest Expense [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract" xlink:label="loc_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract" xlink:to="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">PENSION PLANS AND OTHER POST RETIREMENT BENEFITS (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Allocation of Plan Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Allocation of Plan Assets [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Changes in Fair Value of Plan Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Changes in Fair Value of Plan Assets [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInPlanAssetsAndProjectedBenefitObligationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Changes In Plan Assets and Projected Benefit Obligation [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Assumptions Used [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAssumptionsUsedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Assumptions Used [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShareBasedCompensationTablesAbstract" xlink:to="lab_itub_ShareBasedCompensationTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SHARE BASED COMPENSATION (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share Based Compensation (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock" xlink:label="loc_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Partners Options and Shar Based Instruments Equity Awards [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock" xlink:to="lab_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for partners option and share based payments equity awards.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfPartnersOptionsAndSharBasedInstrumentsEquityAwardsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Partners Options and Shar Based Instruments Equity Awards [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueOfFinancialInstrumentsTablesAbstract" xlink:label="loc_itub_FairValueOfFinancialInstrumentsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Financial Instruments (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueOfFinancialInstrumentsTablesAbstract" xlink:to="lab_itub_FairValueOfFinancialInstrumentsTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value Of Financial Instruments (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfSummaryOfCarryingAndFairValuesForFinancialInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Summary Of Carrying and Fair Values For Financial Instruments [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfSummaryOfCarryingAndFairValuesForFinancialInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of the carrying values and fair values for financial instruments.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfSummaryOfCarryingAndFairValuesForFinancialInstrumentsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Summary Of Carrying and Fair Values For Financial Instruments [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract" xlink:label="loc_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurements and Additional Disclosures On Fair Value Hierarchy (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract" xlink:to="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FAIR VALUE MEASUREMENTS AND ADDITIONAL DISCLOSURES ON FAIR VALUE HIERARCHY (Tables)</label>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value Measurements and Additional Disclosures On Fair Value Hierarchy (Tables) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Assets and Liabilities Measured On Recurring Basis and Nonrecurring Basis [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisAndNonrecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents the disclosure related to assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Derivative Liabilities at Fair Value [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Derivative Liabilities at Fair Value [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract" xlink:label="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Financial Instruments and Financial Instruments Related To Credit (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract" xlink:to="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">DERIVATIVE FINANCIAL INSTRUMENTS AND FINANCIAL INSTRUMENTS RELATED TO CREDIT (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative Financial Instruments and Financial Instruments Related To Credit (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfNotionalAmountOfPurchasedCreditDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Notional Amount Of Purchased Credit Derivatives [Table Text Block]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfContractualAmountsOfFinancialInstrumentsRelatedToCreditTableTableTextBlock" xlink:label="loc_itub_ScheduleOfContractualAmountsOfFinancialInstrumentsRelatedToCreditTableTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfContractualAmountsOfFinancialInstrumentsRelatedToCreditTableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Contractual Amounts Of Financial Instruments Related To Credit Table [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfContractualAmountsOfFinancialInstrumentsRelatedToCreditTableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Contractual Amounts Of Financial Instruments Related To Credit Table [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfFinancialGuaranteesTableTextBlock" xlink:label="loc_itub_ScheduleOfFinancialGuaranteesTableTextBlock"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfFinancialGuaranteesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for financial guarantees.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfFinancialGuaranteesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Financial Guarantees [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingentLiabilitiesTablesAbstract" xlink:label="loc_itub_CommitmentsAndContingentLiabilitiesTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingent Liabilities (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingentLiabilitiesTablesAbstract" xlink:to="lab_itub_CommitmentsAndContingentLiabilitiesTablesAbstract"/>
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    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments and Contingent Liabilities (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock" xlink:label="loc_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Changes In Provisions For Contingent Liabilities and Escrow Deposits Relating To Lawsuits Related To Civil Labor and Social Security [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock" xlink:to="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of changes in provisions for contingent liabilities and escrow deposits relating to lawsuits on civil, labour, tax and social security.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToLawsuitsRelatedToCivilLaborAndSocialSecurityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Changes In Provisions For Contingent Liabilities and Escrow Deposits Relating To Lawsuits Related To Civil Labor and Social Security [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToTaxPayableAndChallengedInCourtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Changes In Provisions For Contingent Liabilities and Escrow Deposits Relating To Tax Payable and Challenged In Court [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToTaxPayableAndChallengedInCourtTableTextBlock" xlink:to="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToTaxPayableAndChallengedInCourtTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToTaxPayableAndChallengedInCourtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Schedule of changes in provisions for contingent liabilities and escrow deposits relating to lawsuits on taxes payable and challenged in court.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfChangesInProvisionsForContingentLiabilitiesAndEscrowDepositsRelatingToTaxPayableAndChallengedInCourtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Changes In Provisions For Contingent Liabilities and Escrow Deposits Relating To Tax Payable and Challenged In Court [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RegulatoryMattersTablesAbstract" xlink:label="loc_itub_RegulatoryMattersTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Regulatory Matters (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RegulatoryMattersTablesAbstract" xlink:to="lab_itub_RegulatoryMattersTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">REGULATORY MATTERS (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Regulatory Matters (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:label="loc_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfComplianceWithRegulatoryCapitalRequirementsUnderBankingRegulationsTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock" xlink:label="loc_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Ratio and Excess Of Capita Ln Relation To Maximum Fixed Assets [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock" xlink:to="lab_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure of ratio and the excess of capital in relation to the maximum fixed assets.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRatioAndExcessOfCapitaLnRelationToMaximumFixedAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Ratio and Excess Of Capita Ln Relation To Maximum Fixed Assets [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessSegmentInformationTablesAbstract" xlink:label="loc_itub_BusinessSegmentInformationTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Segment Information (Tables) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessSegmentInformationTablesAbstract" xlink:to="lab_itub_BusinessSegmentInformationTablesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">BUSINESS SEGMENT INFORMATION (Tables).</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Segment Information (Tables) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Segment Reporting Information, by Segment [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_RelatedPartiesTablesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">RELATED PARTIES (Table).</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfRelatedPartyTransactionsWithOtherEntitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for related party transactions with other entities.</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ScheduleOfDonationsAndServicesProvidedToRelatedPartiesTableTextBlock" xlink:label="loc_itub_ScheduleOfDonationsAndServicesProvidedToRelatedPartiesTableTextBlock"/>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDonationsAndServicesProvidedToRelatedPartiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Donations and Services Provided To Related Parties [Table Text Block]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDonationsAndServicesProvidedToRelatedPartiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tabular disclosure for donations to related parties.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ScheduleOfDonationsAndServicesProvidedToRelatedPartiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule Of Donations and Services Provided To Related Parties [Table Text Block]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DescriptionOfBusinessAndBasisOfConsolidationDetailsAbstract" xlink:label="loc_itub_DescriptionOfBusinessAndBasisOfConsolidationDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description Of Business and Basis Of Consolidation Details [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_DescriptionOfBusinessAndBasisOfConsolidationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Description Of Business And Basis Of Consolidation Details</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="loc_us-gaap_StatementScenarioAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StatementScenarioAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Statement, Scenario [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementScenarioAxis" xlink:to="lab_us-gaap_StatementScenarioAxis"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_us-gaap_ScenarioUnspecifiedDomain"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScenarioUnspecifiedDomain" xlink:to="lab_us-gaap_ScenarioUnspecifiedDomain"/>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AfincoAmericasMadeiraSgpsSocUnipessoalLtdaMember" xlink:label="loc_itub_AfincoAmericasMadeiraSgpsSocUnipessoalLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AfincoAmericasMadeiraSgpsSocUnipessoalLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Afinco Americas Madeira Sgps Soc Unipessoal Ltda [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoDibensSAMember" xlink:label="loc_itub_BancoDibensSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoDibensSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Dibens S.A.</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoFiatSAMember" xlink:label="loc_itub_BancoFiatSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoFiatSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Fiat S.A.</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoInvestcredUnibancoSAMember" xlink:label="loc_itub_BancoInvestcredUnibancoSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoInvestcredUnibancoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Investcred Unibanco S.A</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoInvestcredUnibancoSAMember" xlink:to="lab_itub_BancoInvestcredUnibancoSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauArgentinaSAMember" xlink:label="loc_itub_BancoItauArgentinaSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauArgentinaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Argentina&#160;&#160;S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauArgentinaSAMember" xlink:to="lab_itub_BancoItauArgentinaSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauBbaSAMember" xlink:label="loc_itub_BancoItauBbaSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauBbaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Bba S.A . [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauBbaSAMember" xlink:to="lab_itub_BancoItauBbaSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauChileSAMember" xlink:label="loc_itub_BancoItauChileSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauChileSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Chile S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauChileSAMember" xlink:to="lab_itub_BancoItauChileSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauEuropaLuxembourgSAMember" xlink:label="loc_itub_BancoItauEuropaLuxembourgSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauEuropaLuxembourgSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Europa Luxembourg S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauEuropaLuxembourgSAMember" xlink:to="lab_itub_BancoItauEuropaLuxembourgSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauEuropaSAMember" xlink:label="loc_itub_BancoItauEuropaSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauEuropaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Europa S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauEuropaSAMember" xlink:to="lab_itub_BancoItauEuropaSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauParaguaySAMember" xlink:label="loc_itub_BancoItauParaguaySAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauParaguaySAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Paraguay S.A.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauParaguaySAMember" xlink:to="lab_itub_BancoItauParaguaySAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauUruguaySAMember" xlink:label="loc_itub_BancoItauUruguaySAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauUruguaySAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itau Uruguay S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauUruguaySAMember" xlink:to="lab_itub_BancoItauUruguaySAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItaubankSAMember" xlink:label="loc_itub_BancoItaubankSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItaubankSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itaubank S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItaubankSAMember" xlink:to="lab_itub_BancoItaubankSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItaucardSAMember" xlink:label="loc_itub_BancoItaucardSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItaucardSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itaucard S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItaucardSAMember" xlink:to="lab_itub_BancoItaucardSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItaucredFinanciamentosSAMember" xlink:label="loc_itub_BancoItaucredFinanciamentosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItaucredFinanciamentosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itaucred Financiamentos S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItaucredFinanciamentosSAMember" xlink:to="lab_itub_BancoItaucredFinanciamentosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoItauleasingSAMember" xlink:label="loc_itub_BancoItauleasingSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BancoItauleasingSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banco Itauleasing S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BancoItauleasingSAMember" xlink:to="lab_itub_BancoItauleasingSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BiuParticipacoesSAMember" xlink:label="loc_itub_BiuParticipacoesSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BiuParticipacoesSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Biu Participacoes S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BiuParticipacoesSAMember" xlink:to="lab_itub_BiuParticipacoesSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CiaItauDeCapitalizacaoMember" xlink:label="loc_itub_CiaItauDeCapitalizacaoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CiaItauDeCapitalizacaoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cia Itau De Capitalizacao [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CiaItauDeCapitalizacaoMember" xlink:to="lab_itub_CiaItauDeCapitalizacaoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DibensLeasingSAArrendamentoMercantilMember" xlink:label="loc_itub_DibensLeasingSAArrendamentoMercantilMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DibensLeasingSAArrendamentoMercantilMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dibens Leasing S.A. Arrendamento Mercantil [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DibensLeasingSAArrendamentoMercantilMember" xlink:to="lab_itub_DibensLeasingSAArrendamentoMercantilMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FaiFinanceiraAmericanasItauSACreditoFinanciamentoEInvestimentoMember" xlink:label="loc_itub_FaiFinanceiraAmericanasItauSACreditoFinanciamentoEInvestimentoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FaiFinanceiraAmericanasItauSACreditoFinanciamentoEInvestimentoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fai Financeira Americanas Itau S.A. Credito Financiamento E Investimento [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FaiFinanceiraAmericanasItauSACreditoFinanciamentoEInvestimentoMember" xlink:to="lab_itub_FaiFinanceiraAmericanasItauSACreditoFinanciamentoEInvestimentoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FiatAdministradoraDeConsorciosLtdaMember" xlink:label="loc_itub_FiatAdministradoraDeConsorciosLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FiatAdministradoraDeConsorciosLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fiat Administradora De Consorcios Ltda [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FiatAdministradoraDeConsorciosLtdaMember" xlink:to="lab_itub_FiatAdministradoraDeConsorciosLtdaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FinanceiraItauCbdSACreditoFinanciamentoEInvestimentoMember" xlink:label="loc_itub_FinanceiraItauCbdSACreditoFinanciamentoEInvestimentoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FinanceiraItauCbdSACreditoFinanciamentoEInvestimentoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financeira Itau Cbd S.A. Credito, Financiamento E Investimento [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FinanceiraItauCbdSACreditoFinanciamentoEInvestimentoMember" xlink:to="lab_itub_FinanceiraItauCbdSACreditoFinanciamentoEInvestimentoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_HipercardBancoMultiploSAMember" xlink:label="loc_itub_HipercardBancoMultiploSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_HipercardBancoMultiploSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Hipercard Banco Multiplo S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_HipercardBancoMultiploSAMember" xlink:to="lab_itub_HipercardBancoMultiploSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauAdministradoraDeConsorciosLtdaMember" xlink:label="loc_itub_ItauAdministradoraDeConsorciosLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauAdministradoraDeConsorciosLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Administradora De Consorcios Ltda [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauAdministradoraDeConsorciosLtdaMember" xlink:to="lab_itub_ItauAdministradoraDeConsorciosLtdaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauBankLtdMember" xlink:label="loc_itub_ItauBankLtdMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauBankLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Bank Ltd. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauBankLtdMember" xlink:to="lab_itub_ItauBankLtdMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauCorretoraDeValoresSAMember" xlink:label="loc_itub_ItauCorretoraDeValoresSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauCorretoraDeValoresSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Corretora De Valores S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauCorretoraDeValoresSAMember" xlink:to="lab_itub_ItauCorretoraDeValoresSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauSegurosSAMember" xlink:label="loc_itub_ItauSegurosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauSegurosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Seguros S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauSegurosSAMember" xlink:to="lab_itub_ItauSegurosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauUnibancoSAMember" xlink:label="loc_itub_ItauUnibancoSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauUnibancoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Unibanco S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauUnibancoSAMember" xlink:to="lab_itub_ItauUnibancoSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauVidaEPrevidenciaSAMember" xlink:label="loc_itub_ItauVidaEPrevidenciaSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauVidaEPrevidenciaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Vida E Previdencia S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauVidaEPrevidenciaSAMember" xlink:to="lab_itub_ItauVidaEPrevidenciaSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LuizacredSASociedadeCreditoFinanciamentoInvestimentoMember" xlink:label="loc_itub_LuizacredSASociedadeCreditoFinanciamentoInvestimentoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LuizacredSASociedadeCreditoFinanciamentoInvestimentoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Luizacred S.A. Sociedade Credito Financiamento Investimento [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LuizacredSASociedadeCreditoFinanciamentoInvestimentoMember" xlink:to="lab_itub_LuizacredSASociedadeCreditoFinanciamentoInvestimentoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OcaCasaFinancieraSAMember" xlink:label="loc_itub_OcaCasaFinancieraSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OcaCasaFinancieraSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Oca Casa Financiera S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OcaCasaFinancieraSAMember" xlink:to="lab_itub_OcaCasaFinancieraSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OrbitallServicosEProcessamentoDeInformacoesComerciaisSAMember" xlink:label="loc_itub_OrbitallServicosEProcessamentoDeInformacoesComerciaisSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OrbitallServicosEProcessamentoDeInformacoesComerciaisSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Orbitall Servicos E Processamento De Informacoes Comerciais S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OrbitallServicosEProcessamentoDeInformacoesComerciaisSAMember" xlink:to="lab_itub_OrbitallServicosEProcessamentoDeInformacoesComerciaisSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PontoFrioLeasingSAArrendamentoMercantilMember" xlink:label="loc_itub_PontoFrioLeasingSAArrendamentoMercantilMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PontoFrioLeasingSAArrendamentoMercantilMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ponto Frio Leasing S.A. Arrendamento Mercantil [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PontoFrioLeasingSAArrendamentoMercantilMember" xlink:to="lab_itub_PontoFrioLeasingSAArrendamentoMercantilMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoUniaoDeBancoBrasileirosSAMember" xlink:label="loc_itub_UnibancoUniaoDeBancoBrasileirosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoUniaoDeBancoBrasileirosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco Uniao De Banco Brasileiros S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoUniaoDeBancoBrasileirosSAMember" xlink:to="lab_itub_UnibancoUniaoDeBancoBrasileirosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoHoldingsSAMember" xlink:label="loc_itub_UnibancoHoldingsSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoHoldingsSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco Holdings S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoHoldingsSAMember" xlink:to="lab_itub_UnibancoHoldingsSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoCaymanBankLtdMember" xlink:label="loc_itub_UnibancoCaymanBankLtdMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoCaymanBankLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco Cayman Bank Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoCaymanBankLtdMember" xlink:to="lab_itub_UnibancoCaymanBankLtdMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoParticipacoesSocietariasSAMember" xlink:label="loc_itub_UnibancoParticipacoesSocietariasSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoParticipacoesSocietariasSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco Participacoes Societarias S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoParticipacoesSocietariasSAMember" xlink:to="lab_itub_UnibancoParticipacoesSocietariasSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnicardBancoMultiploSAMember" xlink:label="loc_itub_UnicardBancoMultiploSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnicardBancoMultiploSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unicard Banco Multiplo S.A. [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnicardBancoMultiploSAMember" xlink:to="lab_itub_UnicardBancoMultiploSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncorporationCountryOfSubsidiary" xlink:label="loc_itub_IncorporationCountryOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncorporationCountryOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Incorporation Country Of Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncorporationCountryOfSubsidiary" xlink:to="lab_itub_IncorporationCountryOfSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncorporationCountryOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Incorporation country</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncorporationCountryOfSubsidiary" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Country of incorporation of subsidiary.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_VotingInterestOnSubsidiary" xlink:label="loc_itub_VotingInterestOnSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_itub_VotingInterestOnSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Voting Interest On Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_VotingInterestOnSubsidiary" xlink:to="lab_itub_VotingInterestOnSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_itub_VotingInterestOnSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Voting interest (%) as of 12/31/2010</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitContributions" xlink:label="loc_us-gaap_PensionAndOtherPostretirementBenefitContributions"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition [Line Items]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationCentralBankCompulsoryDeposits" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationCentralBankCompulsoryDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Central Bank Compulsory Deposits</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Central Bank compulsory deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationCentralBankCompulsoryDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of central Bank compulsory deposits acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Trading Assets At Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Trading assets</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trading assets, at fair value</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationTradingAssetsAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of trading assets at fair value acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Available For Sale Securities At Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Available-for-sale securities</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Available-for-sale securities, at fair value</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationAvailableForSaleSecuritiesAtFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of available-for-sale securities at fair value acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Held To Maturity Securities At Amortized Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Held-to-maturity securities, at amortized cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationHeldToMaturitySecuritiesAtAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of held-to-maturity securities at amortized cost acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Net Loans and Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net loans and leases</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNetLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of net loans and leases acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Investment In Unconsolidated Companies Redecard</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investments in unconsolidated companies - Redecard</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesRedecard" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of investments in unconsolidated companies - Redecard acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Investment In Unconsolidated Companies Others</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investments in unconsolidated companies - Others</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedCompaniesOthers" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of investments in unconsolidated companies acquired - others in a business combination.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Property, Plant and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Premises and equipment, net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAmortizableIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Deferred Income Taxes, Asset (Liability), Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationDeferredIncomeTaxesAssetLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax asset, net</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Deferred Tax Asset For Excess Tax Deductible Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax asset for excess tax-deductible goodwill</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeferredTaxAssetForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of deferred tax assets for excess tax-deductible goodwill acquired in a business combination.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Current Assets, Prepaid Expense and Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsPrepaidExpenseAndOtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total assets purchased</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Non Inerest and Interest Bearing Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Non-interest and interest-bearing deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationNonInerestAndInterestBearingDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to non-interest and interest-bearing deposits.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Securities Sold Unde Repurchase Agreements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securities sold under repurchase agreements</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationSecuritiesSoldUndeRepurchaseAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to securities sold under repurchase agreements.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Short and Long Term Borrowings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Short and long-term borrowings</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationShortAndLongTermBorrowings" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to Short and long-term borrowings.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Current Liabilities, Other Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesOtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Liabilities Assumed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationLiabilitiesAssumed" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total liabilities assumed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Assets Acquired (Liabilities Assumed), Net</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net asset at fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationAssetsAcquiredLiabilitiesAssumedNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xml:lang="en-US">Interest in PSIUPAR&#8217;s net assets - 43.9%</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Fair Value Of Noncontrolling Interests</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of non-controlling interests</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationFairValueOfNoncontrollingInterests" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to fair value of non-controlling interests.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Stockholders Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Shareholders&#8217; equity attributable to Ita&#250; Unibanco</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to stockholders' equity attributable to reporting entity.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:label="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Cost of Acquired Entity, Purchase Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:to="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityPurchasePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchase price</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainOnPurchaseOfBusiness" xlink:label="loc_us-gaap_GainOnPurchaseOfBusiness"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainOnPurchaseOfBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain on Purchase of Business</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainOnPurchaseOfBusiness" xlink:to="lab_us-gaap_GainOnPurchaseOfBusiness"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainOnPurchaseOfBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Gain on Purchase of Business</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainOnPurchaseOfBusiness" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Bargain purchase gain</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement" xlink:label="loc_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement"/>
    <label xlink:type="resource" xlink:label="lab_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Number Of Common Shares Held In Equity Method Investee Before Remeasurement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement" xlink:to="lab_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement"/>
    <label xlink:type="resource" xlink:label="lab_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Original Redecard common shares &#8211; in thousands of shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_NumberOfCommonSharesHeldInEquityMethodInvesteeBeforeRemeasurement" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of common shares held in equity method investee before remeasurement.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition" xlink:label="loc_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Quoted Marked Price Per Common Share At Date Of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition" xlink:to="lab_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Quoted market price at date of acquisition &#8211; in R$</label>
    <label xlink:type="resource" xlink:label="lab_itub_QuotedMarkedPricePerCommonShareAtDateOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Quoted market price per common share at the date of acquisition.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:label="loc_us-gaap_EquityMethodInvestmentQuotedMarketValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investment, Quoted Market Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:to="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Method Investment, Quoted Market Value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestmentQuotedMarketValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of our initial investment in Redecard</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Method Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments" xlink:to="lab_us-gaap_EquityMethodInvestments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Equity Method Investments</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Less carrying amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized" xlink:label="loc_us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Preexisting Relationship, Gain (Loss) Recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized" xlink:to="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipGainLossRecognized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pre-tax gain</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Intangible Assets Amortizable and Nonamortizable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Intangible assets</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationIntangibleAssetsAmortizableAndNonamortizable" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to amortizable and non-amortizable identifiable intangible assets.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Receivables From Banks Issuers Of Credit Cards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables from banks issuers of credit cards</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationReceivablesFromBanksIssuersOfCreditCards" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to receivables from banks issuers of credit cards.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Current Liabilities, Accounts Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationCurrentLiabilitiesAccountsPayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payable to merchants</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill Amount</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:label="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Cost of Acquired Entity, Cash Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:to="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityCashPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amount paid in cash</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PortoSeguroMember" xlink:label="loc_itub_PortoSeguroMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PortoSeguroMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Porto Seguro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PortoSeguroMember" xlink:to="lab_itub_PortoSeguroMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationDeposits" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationDeposits" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeposits"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationDeposits" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to deposits.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization" xlink:label="loc_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Purchase Price Allocation Insurance Claim Reserves Reserves For Private Retirement Plans and Reserves For Capitalization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization" xlink:to="lab_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Insurance claims reserves, reserves for private retirement plans and reserves for capitalization</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPurchasePriceAllocationInsuranceClaimReservesReservesForPrivateRetirementPlansAndReservesForCapitalization" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of acquisition cost of a business combination allocated to insurance claims reserves, reserves for private retirement plans and reserves for capitalization.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:label="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Cost Of Acquired Entity, Equity Interests Issued and Issuable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:to="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionCostOfAcquiredEntityEquityInterestsIssuedAndIssuable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of interest held in PSIUPAR</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessDevelopmentTextualAbstract" xlink:label="loc_itub_BusinessDevelopmentTextualAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessDevelopmentTextualAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Development Textual [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessDevelopmentTextualAbstract" xlink:to="lab_itub_BusinessDevelopmentTextualAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessDevelopmentTextualAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Business Development Textual.</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessDevelopmentTextualAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Development Textual [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaExportSAAndItsSubsidiariesMember" xlink:label="loc_itub_ItausaExportSAAndItsSubsidiariesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaExportSAAndItsSubsidiariesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Export S.A. and Its Subsidiaries [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaExportSAAndItsSubsidiariesMember" xlink:to="lab_itub_ItausaExportSAAndItsSubsidiariesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaExportSAAndItsSubsidiariesEuropaMember" xlink:label="loc_itub_ItausaExportSAAndItsSubsidiariesEuropaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaExportSAAndItsSubsidiariesEuropaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Export S.A. and Its Subsidiaries Europa [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaExportSAAndItsSubsidiariesEuropaMember" xlink:to="lab_itub_ItausaExportSAAndItsSubsidiariesEuropaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairvalueOfSharesIssuedMember" xlink:label="loc_itub_FairvalueOfSharesIssuedMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairvalueOfSharesIssuedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fairvalue Of Shares Issued [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairvalueOfSharesIssuedMember" xlink:to="lab_itub_FairvalueOfSharesIssuedMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ReplacementAwardsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Replacement Awards [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReplacementAwardsMember" xlink:to="lab_itub_ReplacementAwardsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReplacementAwardsAndStockOptionsPlanMember" xlink:label="loc_itub_ReplacementAwardsAndStockOptionsPlanMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReplacementAwardsAndStockOptionsPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Replacement Awards and Stock Options Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReplacementAwardsAndStockOptionsPlanMember" xlink:to="lab_itub_ReplacementAwardsAndStockOptionsPlanMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReplacementAwardsProgramForPartnersPlanMember" xlink:label="loc_itub_ReplacementAwardsProgramForPartnersPlanMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReplacementAwardsProgramForPartnersPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Replacement Awards Program For Partners Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReplacementAwardsProgramForPartnersPlanMember" xlink:to="lab_itub_ReplacementAwardsProgramForPartnersPlanMember"/>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Segment [Domain]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_SegmentDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Segment [Domain]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_CommercialBankIndividualsSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Bank Individuals Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialBankIndividualsSegmentMember" xlink:to="lab_itub_CommercialBankIndividualsSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommercialBankInsuranceSegmentMember" xlink:label="loc_itub_CommercialBankInsuranceSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommercialBankInsuranceSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Bank Insurance Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialBankInsuranceSegmentMember" xlink:to="lab_itub_CommercialBankInsuranceSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommercialBankWealthManagementAndServicesSegmentMember" xlink:label="loc_itub_CommercialBankWealthManagementAndServicesSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommercialBankWealthManagementAndServicesSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Bank Wealth Management and Services Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialBankWealthManagementAndServicesSegmentMember" xlink:to="lab_itub_CommercialBankWealthManagementAndServicesSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauBbaSegmentMember" xlink:label="loc_itub_ItauBbaSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauBbaSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Bba Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauBbaSegmentMember" xlink:to="lab_itub_ItauBbaSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsumerCreditVehiclesMember" xlink:label="loc_itub_ConsumerCreditVehiclesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsumerCreditVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Credit Vehicles [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsumerCreditVehiclesMember" xlink:to="lab_itub_ConsumerCreditVehiclesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsumerCreditCardsAndFinancingSegmentMember" xlink:label="loc_itub_ConsumerCreditCardsAndFinancingSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsumerCreditCardsAndFinancingSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Credit Cards and Financing Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsumerCreditCardsAndFinancingSegmentMember" xlink:to="lab_itub_ConsumerCreditCardsAndFinancingSegmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:label="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingencies By Nature Of Contingency [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:to="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesByNatureOfContingencyAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss Contingencies by Nature of Contingency [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyNatureDomain" xlink:label="loc_us-gaap_LossContingencyNatureDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Nature [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyNatureDomain" xlink:to="lab_us-gaap_LossContingencyNatureDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyNatureDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss Contingency, Nature [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CivilClaimsMember" xlink:label="loc_itub_CivilClaimsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CivilClaimsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Civil Claims [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CivilClaimsMember" xlink:to="lab_itub_CivilClaimsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxLawSuitsMember" xlink:label="loc_itub_TaxLawSuitsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxLawSuitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax Law Suits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxLawSuitsMember" xlink:to="lab_itub_TaxLawSuitsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets By Major Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:label="loc_us-gaap_ComputerSoftwareIntangibleAssetMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Computer Software, Intangible Asset [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:to="lab_us-gaap_ComputerSoftwareIntangibleAssetMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CustomerRelationshipsMember" xlink:label="loc_us-gaap_CustomerRelationshipsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CustomerRelationshipsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer Relationships [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerRelationshipsMember" xlink:to="lab_us-gaap_CustomerRelationshipsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CustomerContractsMember" xlink:label="loc_us-gaap_CustomerContractsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CustomerContractsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer Contracts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CustomerContractsMember" xlink:to="lab_us-gaap_CustomerContractsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement" xlink:label="loc_us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Date Of Acquisition Agreement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement" xlink:to="lab_us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionDateOfAcquisitionAgreement" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Date of Acquisition Agreement</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition" xlink:label="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition" xlink:to="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionEffectiveDateOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Effective Date of Acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:label="loc_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Equity Interest Issued or Issuable, Number of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:to="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Equity Interest Issued or Issuable, Number of Shares</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionNumberOfSharesAcquired" xlink:label="loc_itub_BusinessAcquisitionNumberOfSharesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionNumberOfSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Number Of Shares Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionNumberOfSharesAcquired" xlink:to="lab_itub_BusinessAcquisitionNumberOfSharesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionNumberOfSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Number of Shares Acquired</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionNumberOfSharesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Number of shares acquired under business acquisition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired" xlink:label="loc_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Percentage Of Total Interests Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired" xlink:to="lab_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Percentage of Total Interests Acquired</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionPercentageOfTotalInterestsAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of total equity interests acquired in the business combination.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:to="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPreexistingRelationshipDescription" xlink:label="loc_us-gaap_BusinessAcquisitionPreexistingRelationshipDescription"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipDescription" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Preexisting Relationship, Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPreexistingRelationshipDescription" xlink:to="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipDescription"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPreexistingRelationshipDescription" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Preexisting Relationship, Description</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount" xlink:label="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount" xlink:to="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessAcquisitionPurchasePriceAllocationGoodwillExpectedTaxDeductibleAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Acquisition, Purchase Price Allocation, Goodwill, Expected Tax Deductible Amount</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessCombinationCostOfAcquisitionReimbursed" xlink:label="loc_itub_BusinessCombinationCostOfAcquisitionReimbursed"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessCombinationCostOfAcquisitionReimbursed" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination Cost Of Acquisition Reimbursed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessCombinationCostOfAcquisitionReimbursed" xlink:to="lab_itub_BusinessCombinationCostOfAcquisitionReimbursed"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage" xlink:to="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeconsolidationGainOrLossAmount" xlink:label="loc_us-gaap_DeconsolidationGainOrLossAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeconsolidationGainOrLossAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deconsolidation, Gain (Loss), Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeconsolidationGainOrLossAmount" xlink:to="lab_us-gaap_DeconsolidationGainOrLossAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeconsolidationGainOrLossAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deconsolidation, Gain (Loss), Amount</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares" xlink:label="loc_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Decrease Of Noncontrolling Interest Persuant To Exchange Of Holding Company Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares" xlink:to="lab_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Decrease of Non-controlling Interest Persuant to Exchange Of Holding Company's Shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_DecreaseOfNoncontrollingInterestPersuantToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Decrease of Non-controlling Interest Persuant to Exchange Of Holding Company's Shares.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Average Useful Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finite-Lived Intangible Assets, Average Useful Life</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Useful Life, Maximum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMaximum" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Finite-Lived Intangible Assets, Useful Life, Maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Useful Life, Minimum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsUsefulLifeMinimum"/>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares" xlink:label="loc_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase In Common Shares Persuan To Exchange Of Holding Company Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares" xlink:to="lab_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Increase in Common Shares Persuant to Exchange of Holding Company's Shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInCommonSharesPersuanToExchangeOfHoldingCompanyShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Increase in Common Shares Persuant to Exchange of Holding Company's Shares.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues" xlink:to="lab_us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Revenues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Revenue of Redecard</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ValueOfSharesAcquiredFromOfficers" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Value Of Shares Acquired From Officers</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CashAndCashEquivalentsDetailsAbstract" xlink:label="loc_itub_CashAndCashEquivalentsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndCashEquivalentsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Cash Equivalents (Details) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_CashAndCashEquivalentsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and Cash Equivalents (Details) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsInOtherBanks" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest-Bearing Deposits In Other Banks</label>
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    <label xlink:type="resource" xlink:label="lab_itub_CentralBankCompulsoryDepositsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Central Bank Compulsory Deposits (Details) [Abstract]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted Cash and Cash Equivalents, Cash and Cash Equivalents [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsAxis"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restricted Cash and Cash Equivalents, Cash and Cash Equivalents [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestBearingDepositsMember" xlink:label="loc_us-gaap_InterestBearingDepositsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_TradingAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading Assets (Details) [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TradingAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trading Assets (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable" xlink:label="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsTable"/>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_MajorTypesOfTradingSecuritiesAndAssetsDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Major Types of Trading Securities and Assets [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InvestmentFundsMember" xlink:label="loc_itub_InvestmentFundsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmentFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investment Funds [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BrazilianFederalGovernmentSecuritiesMember" xlink:label="loc_itub_BrazilianFederalGovernmentSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BrazilianFederalGovernmentSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brazilian Federal Government Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BrazilianFederalGovernmentSecuritiesMember" xlink:to="lab_itub_BrazilianFederalGovernmentSecuritiesMember"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems" xlink:label="loc_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems" xlink:to="lab_us-gaap_ScheduleOfInvestmentIncomeReportedAmountsByCategoryLineItems"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortized cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain" xlink:label="loc_us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Gross Unrealized Gains</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain" xlink:to="lab_us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesGrossUnrealizedGain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gains</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Gross Unrealized Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLosses1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:label="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Available-For-Sale Securities [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:to="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Available-for-sale Securities [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:label="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Available-for-sale Securities [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:to="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Available-for-sale Securities [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesGrossRealizedGains"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Gross Realized Gains</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedGains"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedGains" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gross realized gains during the year upon sale of the securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Gross Realized Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesGrossRealizedLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gross realized losses during the year upon sale of the securities</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares" xlink:label="loc_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available For Sale Securities Realized Gain Upon Exchange Of Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares" xlink:to="lab_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Realized gain upon exchange of shares of Bovespa Holding S.A. (Note 24a)</label>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesRealizedGainUponExchangeOfShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Realized gain on available for sale securities upon exchange of shares.</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesNetGains" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available For Sale Securities Net Gains</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AvailableForSaleSecuritiesNetGains" xlink:to="lab_itub_AvailableForSaleSecuritiesNetGains"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesNetGains" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">TOTAL</label>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesNetGains" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net gains on available for sale securities during the reporting period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, within One Year, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Due within one year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after One Through Five Years, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 1 to 5 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 5 to 10 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">After 10 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateAmortizedCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">No stated maturity</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, within One Year, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Due within one year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 1 to 5 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 5 to 10 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">After 10 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithoutSingleMaturityDateFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">No stated maturity</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AvailableForSaleSecuritiesTextualsAbstract" xlink:label="loc_itub_AvailableForSaleSecuritiesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available For Sale Securities Textuals [Abstract]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_AvailableForSaleSecuritiesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Available For Sale Securities Textuals</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value</label>
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    <label xlink:type="resource" xlink:label="lab_itub_FairValueMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_CommercialImportFinancingMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Import Financing [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialImportFinancingMember" xlink:to="lab_itub_CommercialImportFinancingMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommercialExportFinancingMember" xlink:label="loc_itub_CommercialExportFinancingMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommercialExportFinancingMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Export Financing [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialExportFinancingMember" xlink:to="lab_itub_CommercialExportFinancingMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_RealEstateLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Real Estate Loans [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LeasesMainlyVehiclesMember" xlink:label="loc_itub_LeasesMainlyVehiclesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LeasesMainlyVehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leases Mainly Vehicles [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PublicSectorMember" xlink:label="loc_itub_PublicSectorMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PublicSectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Public Sector [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PublicSectorMember" xlink:to="lab_itub_PublicSectorMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IndividualsMember" xlink:label="loc_itub_IndividualsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_IndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Individuals [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IndividualsMember" xlink:to="lab_itub_IndividualsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OverdraftMember" xlink:label="loc_itub_OverdraftMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OverdraftMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Overdraft [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OverdraftMember" xlink:to="lab_itub_OverdraftMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsumerFinanceOperationsIncludingFinanceMember" xlink:label="loc_itub_ConsumerFinanceOperationsIncludingFinanceMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsumerFinanceOperationsIncludingFinanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Finance Operations Including Finance [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsumerFinanceOperationsIncludingFinanceMember" xlink:to="lab_itub_ConsumerFinanceOperationsIncludingFinanceMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditCardMember" xlink:label="loc_itub_CreditCardMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Card [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AgriculturalMember" xlink:label="loc_itub_AgriculturalMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AgriculturalMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Agricultural [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AgriculturalMember" xlink:to="lab_itub_AgriculturalMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessesMember" xlink:label="loc_itub_BusinessesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Businesses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessesMember" xlink:to="lab_itub_BusinessesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable With Related Allowance [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis" xlink:to="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Impaired Financing Receivable with Related Allowance [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember" xlink:label="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable With Related Allowance [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember" xlink:to="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableWithRelatedAllowanceMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Impaired Financing Receivable with Related Allowance [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LoansIndividuallyReviewedMember" xlink:label="loc_itub_LoansIndividuallyReviewedMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansIndividuallyReviewedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans Individually Reviewed [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LoansIndividuallyReviewedMember" xlink:to="lab_itub_LoansIndividuallyReviewedMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable, Recorded Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:to="lab_us-gaap_ImpairedFinancingReceivableRecordedInvestment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRecordedInvestment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recorded Amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable, Unpaid Principal Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:to="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableUnpaidPrincipalBalance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Unpaid principal balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:label="loc_us-gaap_ImpairedFinancingReceivableRelatedAllowance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable, Related Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:to="lab_us-gaap_ImpairedFinancingReceivableRelatedAllowance"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableRelatedAllowance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Related Allowance for loan losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment" xlink:label="loc_us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable, Average Recorded Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment" xlink:to="lab_us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableAverageRecordedInvestment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Average book value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod" xlink:label="loc_us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable, Interest Income, Accrual Method</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod" xlink:to="lab_us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ImpairedFinancingReceivableInterestIncomeAccrualMethod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recognized interest revenue</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProductOrServiceAxis" xlink:label="loc_us-gaap_ProductOrServiceAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Products and Services [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProductOrServiceAxis" xlink:to="lab_us-gaap_ProductOrServiceAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProductOrServiceAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Products and Services [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProductsAndServicesDomain" xlink:label="loc_us-gaap_ProductsAndServicesDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Products and Services [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProductsAndServicesDomain" xlink:to="lab_us-gaap_ProductsAndServicesDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProductsAndServicesDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Products and Services [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PersonalLoansMember" xlink:label="loc_itub_PersonalLoansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PersonalLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Personal Loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PersonalLoansMember" xlink:to="lab_itub_PersonalLoansMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_VehiclesMember" xlink:label="loc_us-gaap_VehiclesMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_VehiclesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Vehicles [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VehiclesMember" xlink:to="lab_us-gaap_VehiclesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MortgageLoansMember" xlink:label="loc_itub_MortgageLoansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_MortgageLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage Loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MortgageLoansMember" xlink:to="lab_itub_MortgageLoansMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CorporateMember" xlink:label="loc_itub_CorporateMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CorporateMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Corporate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CorporateMember" xlink:to="lab_itub_CorporateMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SmallAndMediumBusinessesMember" xlink:label="loc_itub_SmallAndMediumBusinessesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_SmallAndMediumBusinessesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Small and Medium Businesses [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SmallAndMediumBusinessesMember" xlink:to="lab_itub_SmallAndMediumBusinessesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CurrentAndPastDueUpto30DaysMember" xlink:label="loc_itub_CurrentAndPastDueUpto30DaysMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CurrentAndPastDueUpto30DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Current and Past Due Upto 30 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CurrentAndPastDueUpto30DaysMember" xlink:to="lab_itub_CurrentAndPastDueUpto30DaysMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PastDueFrom31To60DaysMember" xlink:label="loc_itub_PastDueFrom31To60DaysMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PastDueFrom31To60DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Past Due From 31 To 60 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PastDueFrom31To60DaysMember" xlink:to="lab_itub_PastDueFrom31To60DaysMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PastDueFrom61To90DaysMember" xlink:label="loc_itub_PastDueFrom61To90DaysMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PastDueFrom61To90DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Past Due From 61 To 90 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PastDueFrom61To90DaysMember" xlink:to="lab_itub_PastDueFrom61To90DaysMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PastDueOver90DaysMember" xlink:label="loc_itub_PastDueOver90DaysMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PastDueOver90DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Past Due Over 90 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PastDueOver90DaysMember" xlink:to="lab_itub_PastDueOver90DaysMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TotalPastDueOver30DaysMember" xlink:label="loc_itub_TotalPastDueOver30DaysMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TotalPastDueOver30DaysMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Past Due Over 30 Days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TotalPastDueOver30DaysMember" xlink:to="lab_itub_TotalPastDueOver30DaysMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableConsumerNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableConsumerNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableConsumerNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and leases receivable, consumer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableConsumerNetOfDeferredIncome" xlink:to="lab_us-gaap_LoansAndLeasesReceivableConsumerNetOfDeferredIncome"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Commercial, Net of Deferred Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome" xlink:to="lab_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Commercial</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableCommercialNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and leases receivable, commercial</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:label="loc_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Foreign, Net of Deferred Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:to="lab_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Foreign Loans Latin America</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableForeignNetOfDeferredIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Foreign Loans Latin America</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Financing Receivable, Recorded Investment, Credit Quality Indicator [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:label="loc_us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable Information By Credit Quality Indicator [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:to="lab_us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableInformationByCreditQualityIndicatorAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Financing Receivable Information by Credit Quality Indicator [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:label="loc_us-gaap_FinancingReceivableByCreditQualityIndicatorDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable, By Credit Quality Indicator [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:to="lab_us-gaap_FinancingReceivableByCreditQualityIndicatorDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableByCreditQualityIndicatorDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Financing Receivable, by Credit Quality Indicator [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StrongMember" xlink:label="loc_itub_StrongMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_StrongMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Strong [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StrongMember" xlink:to="lab_itub_StrongMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SatisfactoryMember" xlink:label="loc_itub_SatisfactoryMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_SatisfactoryMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Satisfactory [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SatisfactoryMember" xlink:to="lab_itub_SatisfactoryMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_HigherRiskMember" xlink:label="loc_itub_HigherRiskMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_HigherRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Higher Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_HigherRiskMember" xlink:to="lab_itub_HigherRiskMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Financing Receivable, Recorded Investment [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Financing Receivable, Recorded Investment [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MeasurementOfLevelsOfRisk" xlink:label="loc_itub_MeasurementOfLevelsOfRisk"/>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRisk" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Measurement Of Levels Of Risk</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MeasurementOfLevelsOfRisk" xlink:to="lab_itub_MeasurementOfLevelsOfRisk"/>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRisk" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loan quality indicators</label>
    <label xlink:type="resource" xlink:label="lab_itub_MeasurementOfLevelsOfRisk" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Measurement Of Levels Of Risk.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ImpairedMember" xlink:label="loc_itub_ImpairedMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ImpairedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ImpairedMember" xlink:to="lab_itub_ImpairedMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans" xlink:label="loc_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans"/>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ratio Of Loans Segregated Based On Credit Quality Indicators To Total Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans" xlink:to="lab_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans"/>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">%</label>
    <label xlink:type="resource" xlink:label="lab_itub_RatioOfLoansSegregatedBasedOnCreditQualityIndicatorsToTotalLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Ratio Of Loans Segregated Based On Credit Quality Indicators To Total Loans.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PerformingFinancingReceivableMember" xlink:label="loc_us-gaap_PerformingFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PerformingFinancingReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Performing Financing Receivable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PerformingFinancingReceivableMember" xlink:to="lab_us-gaap_PerformingFinancingReceivableMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonperformingFinancingReceivableMember" xlink:label="loc_us-gaap_NonperformingFinancingReceivableMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NonperformingFinancingReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nonperforming Financing Receivable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonperformingFinancingReceivableMember" xlink:to="lab_us-gaap_NonperformingFinancingReceivableMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TotalConsumerLoanMember" xlink:label="loc_itub_TotalConsumerLoanMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TotalConsumerLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Consumer Loan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TotalConsumerLoanMember" xlink:to="lab_itub_TotalConsumerLoanMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ForeignLoansMember" xlink:label="loc_itub_ForeignLoansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Loans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForeignLoansMember" xlink:to="lab_itub_ForeignLoansMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans" xlink:label="loc_us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Ratio of Nonperforming Loans to All Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans" xlink:to="lab_us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableRatioOfNonperformingLoansToAllLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Ratio of non-performing loans to total loans</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest" xlink:label="loc_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Credit Impaired Loans Contractually Required Payments Including Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest" xlink:to="lab_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contractually required payments (including interest)</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansContractuallyRequiredPaymentsIncludingInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Contractually required payments (including interest) on credit impaired loans acquired under business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference" xlink:label="loc_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Credit Impaired Loans Non Accretable Difference</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference" xlink:to="lab_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Less: non-accretable difference</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansNonAccretableDifference" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Non-accretable difference on credit impaired loans acquired under business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition" xlink:label="loc_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Credit Impaired Loans Undiscounted Principal and Interest At Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition" xlink:to="lab_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash flow expected to be collected representing undiscounted principal and interest at acquisition</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansUndiscountedPrincipalAndInterestAtAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Undiscounted principal and interest at acquisition on credit impaired loans acquired under business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:label="loc_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Credit Impaired Loans Accretable Yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:to="lab_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accretion into interest income</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Less: Accretable yield</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansAccretableYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accretable yield on credit impaired loans acquired under business combination.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessAcquisitionCreditImpairedLoansFairValue" xlink:label="loc_itub_BusinessAcquisitionCreditImpairedLoansFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Acquisition Credit Impaired Loans Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessAcquisitionCreditImpairedLoansFairValue" xlink:to="lab_itub_BusinessAcquisitionCreditImpairedLoansFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of loans acquired</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessAcquisitionCreditImpairedLoansFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Fair value of credit impaired loans acquired under business combination.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:label="loc_us-gaap_CertainLoansAcquiredInTransferAccretableYield"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Certain Loans Acquired in Transfer, Accretable Yield</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:to="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance as of December 31, 2009</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance as of January 1, 2009</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CertainLoansAcquiredInTransferAccretableYield" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance as of December 31, 2009</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AccretionOfCreditImpairedLoanIntoInterestIncome" xlink:label="loc_itub_AccretionOfCreditImpairedLoanIntoInterestIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_AccretionOfCreditImpairedLoanIntoInterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accretion Of Credit Impaired Loan Into Interest Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AccretionOfCreditImpairedLoanIntoInterestIncome" xlink:to="lab_itub_AccretionOfCreditImpairedLoanIntoInterestIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_AccretionOfCreditImpairedLoanIntoInterestIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accretion into interest income</label>
    <label xlink:type="resource" xlink:label="lab_itub_AccretionOfCreditImpairedLoanIntoInterestIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Accretion Of Credit Impaired Loan Into Interest Income</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LoansAndLeasesTextualsAbstract" xlink:label="loc_itub_LoansAndLeasesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LoansAndLeasesTextualsAbstract" xlink:to="lab_itub_LoansAndLeasesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">LOANS AND LEASES (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAndLeasesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and Leases (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest" xlink:label="loc_us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Impaired, Nonperforming, Nonaccrual of Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest" xlink:to="lab_us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and Leases Receivable, Impaired, Nonperforming, Nonaccrual of Interest</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses" xlink:label="loc_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impaired Financing Receivable Requiring Allowance For Loan and Lease Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses" xlink:to="lab_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Impaired Financing Receivable Requiring Allowance For Loan And Lease Losses.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ImpairedFinancingReceivableRequiringAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Impaired Financing Receivable Requiring Allowance For Loan and Lease Losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans" xlink:label="loc_us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans" xlink:to="lab_us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LoansAcquiredDuringPeriod" xlink:label="loc_itub_LoansAcquiredDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans Acquired During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LoansAcquiredDuringPeriod" xlink:to="lab_itub_LoansAcquiredDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Loans Acquired During Period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_LoansAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans Acquired During Period</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LoansSoldDuringPeriod" xlink:label="loc_itub_LoansSoldDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansSoldDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loans Sold During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LoansSoldDuringPeriod" xlink:to="lab_itub_LoansSoldDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_LoansSoldDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Loans Sold During Period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_LoansSoldDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loans Sold During Period</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AllowanceForLoanAndLeaseLossesDetailsAbstract" xlink:label="loc_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance For Loan and Lease Losses (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract" xlink:to="lab_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">ALLOWANCE FOR LOAN AND LEASE LOSSES (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_AllowanceForLoanAndLeaseLossesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Allowance For Loan and Lease Losses (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Allowance for Loan and Lease Losses, Provision for Loss, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross" xlink:to="lab_us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AllowanceForLoanAndLeaseLossesProvisionForLossGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provision for loan and lease losses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs" xlink:label="loc_us-gaap_AllowanceForLoanAndLeaseLossesWriteOffs"/>
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    <label xlink:type="resource" xlink:label="lab_itub_RosefiledFinanceLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rosefiled Finance Ltd [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_SerasaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Serasa S.A [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TecnologiaBancariaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tecnologia Bancaria S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TecnologiaBancariaSAMember" xlink:to="lab_itub_TecnologiaBancariaSAMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Intangible Assets [Member]</label>
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    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueOfGoodwillMember" xlink:label="loc_itub_FairValueOfGoodwillMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfGoodwillMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Goodwill [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Property, Plant and Equipment [Table]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment By Type [Axis]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TransportationEquipmentMember" xlink:label="loc_us-gaap_TransportationEquipmentMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TransportationEquipmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Transportation Equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransportationEquipmentMember" xlink:to="lab_us-gaap_TransportationEquipmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherCapitalizedPropertyPlantAndEquipmentMember" xlink:label="loc_us-gaap_OtherCapitalizedPropertyPlantAndEquipmentMember"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCapitalizedPropertyPlantAndEquipmentMember" xlink:to="lab_us-gaap_OtherCapitalizedPropertyPlantAndEquipmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BuildingMember" xlink:label="loc_us-gaap_BuildingMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Building [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember"/>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_FurnitureAndFixturesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Furniture and Fixtures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesMember" xlink:to="lab_us-gaap_FurnitureAndFixturesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherMachineryAndEquipmentMember" xlink:label="loc_us-gaap_OtherMachineryAndEquipmentMember"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SoftwareMember" xlink:label="loc_us-gaap_SoftwareMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SoftwareMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Software [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SoftwareMember" xlink:to="lab_us-gaap_SoftwareMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Property, Plant and Equipment [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Land" xlink:label="loc_us-gaap_Land"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Land</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_Land" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Land</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BuildingsAndImprovementsGross" xlink:label="loc_us-gaap_BuildingsAndImprovementsGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Buildings and Improvements, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingsAndImprovementsGross" xlink:to="lab_us-gaap_BuildingsAndImprovementsGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Buildings used in operations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="loc_us-gaap_FurnitureAndFixturesGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FurnitureAndFixturesGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Furniture and Fixtures, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FurnitureAndFixturesGross" xlink:to="lab_us-gaap_FurnitureAndFixturesGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FurnitureAndFixturesGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Installations, furniture, equipment and security and communication</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MachineryAndEquipmentGross" xlink:label="loc_us-gaap_MachineryAndEquipmentGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MachineryAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Machinery and Equipment, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MachineryAndEquipmentGross" xlink:to="lab_us-gaap_MachineryAndEquipmentGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MachineryAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Data processing equipment</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalizedComputerSoftwareGross" xlink:label="loc_us-gaap_CapitalizedComputerSoftwareGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalizedComputerSoftwareGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capitalized Computer Software, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalizedComputerSoftwareGross" xlink:to="lab_us-gaap_CapitalizedComputerSoftwareGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalizedComputerSoftwareGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cost of software developed or obtained for internal use</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentOther" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment, Other, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentOther" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Equipments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsHeldForSaleLongLived" xlink:label="loc_us-gaap_AssetsHeldForSaleLongLived"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetsHeldForSaleLongLived" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets Held-for-sale, Long Lived</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsHeldForSaleLongLived" xlink:to="lab_us-gaap_AssetsHeldForSaleLongLived"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetsHeldForSaleLongLived" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Assets held for sale</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Property, Plant and Equipment, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentGross" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">TOTAL</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accumulated Depreciation Depletion And Amortization</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AnnualDepreciationRates" xlink:label="loc_itub_AnnualDepreciationRates"/>
    <label xlink:type="resource" xlink:label="lab_itub_AnnualDepreciationRates" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Annual Depreciation Rates</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AnnualDepreciationRates" xlink:to="lab_itub_AnnualDepreciationRates"/>
    <label xlink:type="resource" xlink:label="lab_itub_AnnualDepreciationRates" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Annual depreciation rates for property, plant and equipment</label>
    <label xlink:type="resource" xlink:label="lab_itub_AnnualDepreciationRates" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Annual Depreciation Rates</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PremisesAndEquipmentTextualsAbstract" xlink:label="loc_itub_PremisesAndEquipmentTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Premises and Equipment (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PremisesAndEquipmentTextualsAbstract" xlink:to="lab_itub_PremisesAndEquipmentTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">PREMISES AND EQUIPMENT (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_PremisesAndEquipmentTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Premises and Equipment (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SoftwareDevelopedForInternalUseMember" xlink:label="loc_itub_SoftwareDevelopedForInternalUseMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_SoftwareDevelopedForInternalUseMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Software Developed For Internal Use [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SoftwareDevelopedForInternalUseMember" xlink:to="lab_itub_SoftwareDevelopedForInternalUseMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeaseholdsAndLeaseholdImprovementsMember" xlink:label="loc_us-gaap_LeaseholdsAndLeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Leaseholds and Leasehold Improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseholdsAndLeaseholdImprovementsMember" xlink:to="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestCostsIncurredCapitalized" xlink:label="loc_us-gaap_InterestCostsIncurredCapitalized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestCostsIncurredCapitalized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Costs Incurred, Capitalized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestCostsIncurredCapitalized" xlink:to="lab_us-gaap_InterestCostsIncurredCapitalized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestCostsIncurredCapitalized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest Costs Incurred, Capitalized</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DepreciationOfCapitalizedInterest" xlink:label="loc_itub_DepreciationOfCapitalizedInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepreciationOfCapitalizedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Depreciation Of Capitalized Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DepreciationOfCapitalizedInterest" xlink:to="lab_itub_DepreciationOfCapitalizedInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepreciationOfCapitalizedInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Depreciation of capitalized interest that are capitalized.</label>
    <label xlink:type="resource" xlink:label="lab_itub_DepreciationOfCapitalizedInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Depreciation Of Capitalized Interest</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:label="loc_itub_GoodwillAndIntangibleAssetsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill and Intangible Assets (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:to="lab_itub_GoodwillAndIntangibleAssetsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">GOODWILL AND INTANGIBLE ASSETS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill and Intangible Assets (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommercialBankSegmentMember" xlink:label="loc_itub_CommercialBankSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommercialBankSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Bank Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialBankSegmentMember" xlink:to="lab_itub_CommercialBankSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsumerCreditSegmentMember" xlink:label="loc_itub_ConsumerCreditSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsumerCreditSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Credit Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsumerCreditSegmentMember" xlink:to="lab_itub_ConsumerCreditSegmentMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillLineItems" xlink:label="loc_us-gaap_GoodwillLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillLineItems" xlink:to="lab_us-gaap_GoodwillLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillGross" xlink:label="loc_us-gaap_GoodwillGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillGross" xlink:to="lab_us-gaap_GoodwillGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Goodwill, Gross</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Goodwill, Gross</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Goodwill, Gross</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:label="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, Impaired, Accumulated Impairment Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:to="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accumulated impairment losses</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Goodwill, Impaired, Accumulated Impairment Loss</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillImpairedAccumulatedImpairmentLoss" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Goodwill, Impaired, Accumulated Impairment Loss</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="loc_us-gaap_GoodwillAcquiredDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, Acquired During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillAcquiredDuringPeriod" xlink:to="lab_us-gaap_GoodwillAcquiredDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillAcquiredDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Addition as a result of acquisition</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillTranslationAdjustments" xlink:label="loc_us-gaap_GoodwillTranslationAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, Translation Adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillTranslationAdjustments" xlink:to="lab_us-gaap_GoodwillTranslationAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect of exchange rate on goodwill on entities outside Brazil</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset" xlink:label="loc_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Goodwill, Subsequent Recognition of Deferred Tax Asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset" xlink:to="lab_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Goodwill, Subsequent Recognition of Deferred Tax Asset</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GoodwillSubsequentRecognitionOfDeferredTaxAsset" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tax benefit in the realization of deductible goodwill</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:label="loc_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Indefinite-Lived Intangible Assets By Major Class [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:to="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Indefinite-lived Intangible Assets by Major Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indefinite-Lived Intangible Assets By Major Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Indefinite-lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indefinite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ExclusiveAccessToCustomersOfRetailersAndRealEstateBrokersMember" xlink:label="loc_itub_ExclusiveAccessToCustomersOfRetailersAndRealEstateBrokersMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExclusiveAccessToCustomersOfRetailersAndRealEstateBrokersMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Exclusive Access To Customers Of Retailers and Real Estate Brokers [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ExclusiveAccessToCustomersOfRetailersAndRealEstateBrokersMember" xlink:to="lab_itub_ExclusiveAccessToCustomersOfRetailersAndRealEstateBrokersMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CustomerRelationshipsIncludingCoreDepositsMember" xlink:label="loc_itub_CustomerRelationshipsIncludingCoreDepositsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CustomerRelationshipsIncludingCoreDepositsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Customer Relationships Including Core Deposits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CustomerRelationshipsIncludingCoreDepositsMember" xlink:to="lab_itub_CustomerRelationshipsIncludingCoreDepositsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BrandMember" xlink:label="loc_itub_BrandMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BrandMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brand [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BrandMember" xlink:to="lab_itub_BrandMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherIntangibleAssetsMember" xlink:label="loc_us-gaap_OtherIntangibleAssetsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherIntangibleAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Intangible Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIntangibleAssetsMember" xlink:to="lab_us-gaap_OtherIntangibleAssetsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IntangibleAssetsLineItems" xlink:label="loc_itub_IntangibleAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IntangibleAssetsLineItems" xlink:to="lab_itub_IntangibleAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Intangible Assets [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noncash or Part Noncash Acquisition, Intangible Assets Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:to="lab_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquisition during the period</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IntangibleAssetsTranslationAdjustments" xlink:label="loc_itub_IntangibleAssetsTranslationAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible Assets Translation Adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IntangibleAssetsTranslationAdjustments" xlink:to="lab_itub_IntangibleAssetsTranslationAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Amortization for the year</label>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect of exchange rate on intangible assets of entities outside Brazil</label>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsTranslationAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The increase (decrease) to the recorded value of Intangible for foreign currency translation adjustments.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TerminationOfContractsOfIntangibleAssets" xlink:label="loc_itub_TerminationOfContractsOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_TerminationOfContractsOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Termination Of Contracts Of Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TerminationOfContractsOfIntangibleAssets" xlink:to="lab_itub_TerminationOfContractsOfIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_TerminationOfContractsOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gain or loss on termination of contracts of intangible assets.</label>
    <label xlink:type="resource" xlink:label="lab_itub_TerminationOfContractsOfIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Termination Of Contracts Of Intangible Assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IntangibleAssetsGross" xlink:label="loc_itub_IntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Intangible Assets Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IntangibleAssetsGross" xlink:to="lab_itub_IntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gross balance</label>
    <label xlink:type="resource" xlink:label="lab_itub_IntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Sum of the gross carrying amounts before accumulated amortization as of the balance sheet date of all intangible assets (finite-lived and indefinite-lived) having statutory or estimated useful lives.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accumulated amortization</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Weighted-Average Useful Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average useful life (in years)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherCompaniesMember" xlink:label="loc_itub_OtherCompaniesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherCompaniesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Companies [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherCompaniesMember" xlink:to="lab_itub_OtherCompaniesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearOne" xlink:label="loc_us-gaap_FutureAmortizationExpenseYearOne"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearOne" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Amortization Expense, Year One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureAmortizationExpenseYearOne" xlink:to="lab_us-gaap_FutureAmortizationExpenseYearOne"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearOne" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2011</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearTwo" xlink:label="loc_us-gaap_FutureAmortizationExpenseYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Amortization Expense, Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FutureAmortizationExpenseYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearThree" xlink:label="loc_us-gaap_FutureAmortizationExpenseYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Amortization Expense, Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FutureAmortizationExpenseYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFour" xlink:label="loc_us-gaap_FutureAmortizationExpenseYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Amortization Expense, Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureAmortizationExpenseYearFour" xlink:to="lab_us-gaap_FutureAmortizationExpenseYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFive" xlink:label="loc_us-gaap_FutureAmortizationExpenseYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Amortization Expense, Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureAmortizationExpenseYearFive" xlink:to="lab_us-gaap_FutureAmortizationExpenseYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureAmortizationExpenseYearFive" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssets" xlink:label="loc_us-gaap_IndefiniteLivedIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indefinite-lived Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IndefiniteLivedIntangibleAssets" xlink:to="lab_us-gaap_IndefiniteLivedIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Indefinite life Gross amount</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Indefinite life Net amount</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IndefiniteLivedIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Indefinite-lived Intangible Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Definite life Gross amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Definite life Net amount</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherAssetsDetailsAbstract" xlink:label="loc_itub_OtherAssetsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Assets (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherAssetsDetailsAbstract" xlink:to="lab_itub_OtherAssetsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">OTHER ASSETS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherAssetsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Assets (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesPayableMember" xlink:label="loc_itub_TaxesPayableMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesPayableMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes Payable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesPayableMember" xlink:to="lab_itub_TaxesPayableMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingentLiabilitiesClassifiedAsPossibleMember" xlink:label="loc_itub_ContingentLiabilitiesClassifiedAsPossibleMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentLiabilitiesClassifiedAsPossibleMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingent Liabilities Classified As Possible [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingentLiabilitiesClassifiedAsPossibleMember" xlink:to="lab_itub_ContingentLiabilitiesClassifiedAsPossibleMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingentLiabilitiesClassifiedAsProbableMember" xlink:label="loc_itub_ContingentLiabilitiesClassifiedAsProbableMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentLiabilitiesClassifiedAsProbableMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingent Liabilities Classified As Probable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingentLiabilitiesClassifiedAsProbableMember" xlink:to="lab_itub_ContingentLiabilitiesClassifiedAsProbableMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OthersEscrowDepositsMember" xlink:label="loc_itub_OthersEscrowDepositsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OthersEscrowDepositsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Others Escrow Deposits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OthersEscrowDepositsMember" xlink:to="lab_itub_OthersEscrowDepositsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CbdAndLasaMember" xlink:label="loc_itub_CbdAndLasaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CbdAndLasaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cbd and Lasa [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CbdAndLasaMember" xlink:to="lab_itub_CbdAndLasaMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CreditCardReceivables" xlink:label="loc_us-gaap_CreditCardReceivables"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditCardReceivables" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Card Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditCardReceivables" xlink:to="lab_us-gaap_CreditCardReceivables"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditCardReceivables" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Redecard- receivables from issuers of credit cards</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="loc_us-gaap_DeferredTaxAssetsNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Assets, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsNet" xlink:to="lab_us-gaap_DeferredTaxAssetsNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax assets (Note 21)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidTaxes" xlink:label="loc_us-gaap_PrepaidTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidTaxes" xlink:to="lab_us-gaap_PrepaidTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidTaxes" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Prepaid taxes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EscrowDeposit" xlink:label="loc_us-gaap_EscrowDeposit"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EscrowDeposit" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Escrow Deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EscrowDeposit" xlink:to="lab_us-gaap_EscrowDeposit"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EscrowDeposit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Escrow deposits (Note 14)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EscrowDeposit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Escrow deposits</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesFromReimbursementOfContingentLiabilities" xlink:label="loc_itub_ReceivablesFromReimbursementOfContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromReimbursementOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables From Reimbursement Of Contingent Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesFromReimbursementOfContingentLiabilities" xlink:to="lab_itub_ReceivablesFromReimbursementOfContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromReimbursementOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables from reimbursement of contingent liabilities (Note 30b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromReimbursementOfContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Receivables From Reimbursement Of Contingent Liabilities.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ServiceFeesAndCommissionsReceivable" xlink:label="loc_itub_ServiceFeesAndCommissionsReceivable"/>
    <label xlink:type="resource" xlink:label="lab_itub_ServiceFeesAndCommissionsReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Service Fees and Commissions Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ServiceFeesAndCommissionsReceivable" xlink:to="lab_itub_ServiceFeesAndCommissionsReceivable"/>
    <label xlink:type="resource" xlink:label="lab_itub_ServiceFeesAndCommissionsReceivable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Service fees and commissions receivable</label>
    <label xlink:type="resource" xlink:label="lab_itub_ServiceFeesAndCommissionsReceivable" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Service Fees And Commissions Receivable.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ReceivablesFromClearingOrganizations" xlink:label="loc_us-gaap_ReceivablesFromClearingOrganizations"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ReceivablesFromClearingOrganizations" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables from Clearing Organizations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivablesFromClearingOrganizations" xlink:to="lab_us-gaap_ReceivablesFromClearingOrganizations"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ReceivablesFromClearingOrganizations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securities trading and clearing accounts</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:to="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Prepaid expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidPensionCosts" xlink:label="loc_us-gaap_PrepaidPensionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidPensionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prepaid Pension Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PrepaidPensionCosts" xlink:to="lab_us-gaap_PrepaidPensionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PrepaidPensionCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Prepaid pension plan assets (Note 25c)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivableFromGovernmentAdministeredFund" xlink:label="loc_itub_ReceivableFromGovernmentAdministeredFund"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivableFromGovernmentAdministeredFund" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivable From Government Administered Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivableFromGovernmentAdministeredFund" xlink:to="lab_itub_ReceivableFromGovernmentAdministeredFund"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivableFromGovernmentAdministeredFund" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivable from the government administered fund &#8211; Fundo para Compensa&#231;&#227;o de Varia&#231;&#245;es Salariais (FCVS)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivableFromGovernmentAdministeredFund" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Receivable From Government Administered Fund.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesRelatedToAcquisitions" xlink:label="loc_itub_ReceivablesRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesRelatedToAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables Related To Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesRelatedToAcquisitions" xlink:to="lab_itub_ReceivablesRelatedToAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesRelatedToAcquisitions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables related to acquisitions (Note 35)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesRelatedToAcquisitions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Receivables Related To Acquisitions.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredPolicyAcquisitionCosts" xlink:label="loc_us-gaap_DeferredPolicyAcquisitionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Policy Acquisition Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredPolicyAcquisitionCosts" xlink:to="lab_us-gaap_DeferredPolicyAcquisitionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredPolicyAcquisitionCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred policy acquisition costs</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeclosedAssets" xlink:label="loc_us-gaap_ForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Repossessed Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeclosedAssets" xlink:to="lab_us-gaap_ForeclosedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ForeclosedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Foreclosed assets, net</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherSundryAssets" xlink:label="loc_itub_OtherSundryAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherSundryAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Sundry Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherSundryAssets" xlink:to="lab_itub_OtherSundryAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherSundryAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherSundryAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other Sundry Assets.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DepositsDetailsAbstract" xlink:label="loc_itub_DepositsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DepositsDetailsAbstract" xlink:to="lab_itub_DepositsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Deposits (Textuals).</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NonInterestBearingDemandDepositLiabilities" xlink:label="loc_itub_NonInterestBearingDemandDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingDemandDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non Interest Bearing Demand Deposit Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NonInterestBearingDemandDepositLiabilities" xlink:to="lab_itub_NonInterestBearingDemandDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingDemandDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Demand deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingDemandDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The aggregate amount of all domestic and foreign noninterest-bearing demand deposits liabilities held by the entity.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NonInterestBearingOtherDepositLiabilities" xlink:label="loc_itub_NonInterestBearingOtherDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingOtherDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Non Interest Bearing Other Deposit Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NonInterestBearingOtherDepositLiabilities" xlink:to="lab_itub_NonInterestBearingOtherDepositLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingOtherDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_NonInterestBearingOtherDepositLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The aggregate amount of all domestic and foreign noninterest-bearing other deposits liabilities held by the entity.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositsSavingsDeposits" xlink:label="loc_us-gaap_DepositsSavingsDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepositsSavingsDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits, Savings Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsSavingsDeposits" xlink:to="lab_us-gaap_DepositsSavingsDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepositsSavingsDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Savings deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TimeDeposits" xlink:label="loc_us-gaap_TimeDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TimeDeposits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Time Deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDeposits" xlink:to="lab_us-gaap_TimeDeposits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TimeDeposits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Time deposits</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DepositsWholesale" xlink:label="loc_us-gaap_DepositsWholesale"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepositsWholesale" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits, Wholesale</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepositsWholesale" xlink:to="lab_us-gaap_DepositsWholesale"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DepositsWholesale" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits from other banks</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShortTermBorrowingsDetailsAbstract" xlink:label="loc_itub_ShortTermBorrowingsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short-Term Borrowings (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShortTermBorrowingsDetailsAbstract" xlink:to="lab_itub_ShortTermBorrowingsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SHORT-TERM BORROWINGS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Short-Term Borrowings (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingMember" xlink:label="loc_itub_TradeFinancingMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingMember" xlink:to="lab_itub_TradeFinancingMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LocalOnLendingMember" xlink:label="loc_itub_LocalOnLendingMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LocalOnLendingMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Local On Lending [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LocalOnLendingMember" xlink:to="lab_itub_LocalOnLendingMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesMember" xlink:label="loc_itub_EuronotesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesMember" xlink:to="lab_itub_EuronotesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FixedRateNotesMember" xlink:label="loc_itub_FixedRateNotesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FixedRateNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fixed Rate Notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FixedRateNotesMember" xlink:to="lab_itub_FixedRateNotesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MortgageNotesMember" xlink:label="loc_itub_MortgageNotesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_MortgageNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mortgage Notes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MortgageNotesMember" xlink:to="lab_itub_MortgageNotesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherShortTermDebtMember" xlink:label="loc_itub_OtherShortTermDebtMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherShortTermDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Short Term Debt [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherShortTermDebtMember" xlink:to="lab_itub_OtherShortTermDebtMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShortTermBorrowingsInterestRatesApplicable" xlink:label="loc_itub_ShortTermBorrowingsInterestRatesApplicable"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short Term Borrowings Interest Rates Applicable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShortTermBorrowingsInterestRatesApplicable" xlink:to="lab_itub_ShortTermBorrowingsInterestRatesApplicable"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest rate applicable for Securities issued and sold to customers under repurchase agreements</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsInterestRatesApplicable" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Applicable interest rates for short term borrowings.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShortTermBorrowingsTextualsAbstract" xlink:label="loc_itub_ShortTermBorrowingsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Short-Term Borrowings (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShortTermBorrowingsTextualsAbstract" xlink:to="lab_itub_ShortTermBorrowingsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Short-Term Borrowings (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShortTermBorrowingsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Short-Term Borrowings (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LongTermDebtDetailsAbstract" xlink:label="loc_itub_LongTermDebtDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LongTermDebtDetailsAbstract" xlink:to="lab_itub_LongTermDebtDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">LONG TERM DEBT (Details)</label>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long Term Debt (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LocalOnLendings" xlink:label="loc_itub_LocalOnLendings"/>
    <label xlink:type="resource" xlink:label="lab_itub_LocalOnLendings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Local On Lendings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LocalOnLendings" xlink:to="lab_itub_LocalOnLendings"/>
    <label xlink:type="resource" xlink:label="lab_itub_LocalOnLendings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Local onlending</label>
    <label xlink:type="resource" xlink:label="lab_itub_LocalOnLendings" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Local onlending represents amounts borrowed from agencies for lending to entities principally to finance purchases of premises and equipment as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_Euronotes" xlink:label="loc_itub_Euronotes"/>
    <label xlink:type="resource" xlink:label="lab_itub_Euronotes" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_Euronotes" xlink:to="lab_itub_Euronotes"/>
    <label xlink:type="resource" xlink:label="lab_itub_Euronotes" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Euronotes</label>
    <label xlink:type="resource" xlink:label="lab_itub_Euronotes" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying amount of Euronotes as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:label="loc_us-gaap_LongtermDebtPercentageBearingFixedInterestAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Percentage Bearing Fixed Interest, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:to="lab_us-gaap_LongtermDebtPercentageBearingFixedInterestAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtPercentageBearingFixedInterestAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fixed rate notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Secured Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt" xlink:to="lab_us-gaap_SecuredDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SecuredDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Mortgage notes</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Line of Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit" xlink:to="lab_us-gaap_LineOfCredit"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Long-term Line of Credit</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trade financing borrowings</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LineOfCredit" xlink:role="http://www.xbrl.org/2003/role/presentationGuidance" xml:lang="en-US">Long-term Line of Credit</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_Debentures" xlink:label="loc_itub_Debentures"/>
    <label xlink:type="resource" xlink:label="lab_itub_Debentures" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_Debentures" xlink:to="lab_itub_Debentures"/>
    <label xlink:type="resource" xlink:label="lab_itub_Debentures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Carrying amount (excluding debentures in treasury)</label>
    <label xlink:type="resource" xlink:label="lab_itub_Debentures" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Debentures</label>
    <label xlink:type="resource" xlink:label="lab_itub_Debentures" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying amount of long term debentures as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubordinatedDebt" xlink:label="loc_us-gaap_SubordinatedDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubordinatedDebt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subordinated Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubordinatedDebt" xlink:to="lab_us-gaap_SubordinatedDebt"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubordinatedDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Carrying value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubordinatedDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subordinated debt</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherLongTermDebtAndCapitalLeaseObligations" xlink:label="loc_itub_OtherLongTermDebtAndCapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLongTermDebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Long Term Debt and Capital Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherLongTermDebtAndCapitalLeaseObligations" xlink:to="lab_itub_OtherLongTermDebtAndCapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLongTermDebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other long-term debt</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLongTermDebtAndCapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Including both current and noncurrent portions, carrying amount as of the balance sheet date of other forms of debt not elsewhere specified in the taxonomy with initial maturities beyond one year or beyond the normal operating cycle, if longer. Also includes, Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal through the balance sheet date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Long-Term Debt Instruments [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable" xlink:to="lab_us-gaap_DebtInstrumentTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-Term Debt, Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-Term Debt, Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesOne2010Member" xlink:label="loc_itub_EuronotesOne2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesOne2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes One 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesOne2010Member" xlink:to="lab_itub_EuronotesOne2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesTwo2010Member" xlink:label="loc_itub_EuronotesTwo2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesTwo2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Two 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesTwo2010Member" xlink:to="lab_itub_EuronotesTwo2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesThree2010Member" xlink:label="loc_itub_EuronotesThree2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesThree2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Three 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesThree2010Member" xlink:to="lab_itub_EuronotesThree2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesFour2010Member" xlink:label="loc_itub_EuronotesFour2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesFour2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Four 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesFour2010Member" xlink:to="lab_itub_EuronotesFour2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesFive2010Member" xlink:label="loc_itub_EuronotesFive2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesFive2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Five 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesFive2010Member" xlink:to="lab_itub_EuronotesFive2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesSix2010Member" xlink:label="loc_itub_EuronotesSix2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesSix2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Six 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesSix2010Member" xlink:to="lab_itub_EuronotesSix2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesSeven2010Member" xlink:label="loc_itub_EuronotesSeven2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesSeven2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Seven 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesSeven2010Member" xlink:to="lab_itub_EuronotesSeven2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesEight2010Member" xlink:label="loc_itub_EuronotesEight2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesEight2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Eight 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesEight2010Member" xlink:to="lab_itub_EuronotesEight2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesNine2010Member" xlink:label="loc_itub_EuronotesNine2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesNine2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Nine 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesNine2010Member" xlink:to="lab_itub_EuronotesNine2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesTen2010Member" xlink:label="loc_itub_EuronotesTen2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesTen2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Ten 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesTen2010Member" xlink:to="lab_itub_EuronotesTen2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesEleven2010Member" xlink:label="loc_itub_EuronotesEleven2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesEleven2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Eleven 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesEleven2010Member" xlink:to="lab_itub_EuronotesEleven2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesTwelve2010Member" xlink:label="loc_itub_EuronotesTwelve2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesTwelve2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Twelve 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesTwelve2010Member" xlink:to="lab_itub_EuronotesTwelve2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesThirteen2010Member" xlink:label="loc_itub_EuronotesThirteen2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuronotesThirteen2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euronotes Thirteen 2010 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesThirteen2010Member" xlink:to="lab_itub_EuronotesThirteen2010Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuronotesOne2011Member" xlink:label="loc_itub_EuronotesOne2011Member"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuronotesOne2011Member" xlink:to="lab_itub_EuronotesOne2011Member"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FixedRateNotesNine2013Member" xlink:to="lab_itub_FixedRateNotesNine2013Member"/>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsSix2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Six 2010 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsOne2011Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings One 2011 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsTwo2011Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Two 2011 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsTwo2011Member" xlink:to="lab_itub_TradeFinancingBorrowingsTwo2011Member"/>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsThree2011Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Three 2011 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsThree2011Member" xlink:to="lab_itub_TradeFinancingBorrowingsThree2011Member"/>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsFour2011Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Four 2011 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsOne2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings One 2012 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsOne2012Member" xlink:to="lab_itub_TradeFinancingBorrowingsOne2012Member"/>
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    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsTwo2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Two 2012 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsTwo2012Member" xlink:to="lab_itub_TradeFinancingBorrowingsTwo2012Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsThree2012Member" xlink:label="loc_itub_TradeFinancingBorrowingsThree2012Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsThree2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Three 2012 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsThree2012Member" xlink:to="lab_itub_TradeFinancingBorrowingsThree2012Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsFour2012Member" xlink:label="loc_itub_TradeFinancingBorrowingsFour2012Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsFour2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Four 2012 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsFour2012Member" xlink:to="lab_itub_TradeFinancingBorrowingsFour2012Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsOne2013Member" xlink:label="loc_itub_TradeFinancingBorrowingsOne2013Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsOne2013Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings One 2013 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsOne2013Member" xlink:to="lab_itub_TradeFinancingBorrowingsOne2013Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsTwo2013Member" xlink:label="loc_itub_TradeFinancingBorrowingsTwo2013Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsTwo2013Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Two 2013 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsTwo2013Member" xlink:to="lab_itub_TradeFinancingBorrowingsTwo2013Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsThree2013Member" xlink:label="loc_itub_TradeFinancingBorrowingsThree2013Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsThree2013Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Three 2013 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsThree2013Member" xlink:to="lab_itub_TradeFinancingBorrowingsThree2013Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsOne2014Member" xlink:label="loc_itub_TradeFinancingBorrowingsOne2014Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsOne2014Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings One 2014 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsOne2014Member" xlink:to="lab_itub_TradeFinancingBorrowingsOne2014Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsTwo2014Member" xlink:label="loc_itub_TradeFinancingBorrowingsTwo2014Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsTwo2014Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Two 2014 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsTwo2014Member" xlink:to="lab_itub_TradeFinancingBorrowingsTwo2014Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsThree2014Member" xlink:label="loc_itub_TradeFinancingBorrowingsThree2014Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsThree2014Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Three 2014 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsThree2014Member" xlink:to="lab_itub_TradeFinancingBorrowingsThree2014Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsOne2015Member" xlink:label="loc_itub_TradeFinancingBorrowingsOne2015Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsOne2015Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings One 2015 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsOne2015Member" xlink:to="lab_itub_TradeFinancingBorrowingsOne2015Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsTwo2015Member" xlink:label="loc_itub_TradeFinancingBorrowingsTwo2015Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsTwo2015Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Two 2015 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsTwo2015Member" xlink:to="lab_itub_TradeFinancingBorrowingsTwo2015Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeFinancingBorrowingsThree2015Member" xlink:label="loc_itub_TradeFinancingBorrowingsThree2015Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeFinancingBorrowingsThree2015Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Financing Borrowings Three 2015 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeFinancingBorrowingsThree2015Member" xlink:to="lab_itub_TradeFinancingBorrowingsThree2015Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings1Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings1Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings1Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings1Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings1Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings2Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings2Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings2Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings2Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings2Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings3Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings3Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings3Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings3Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings3Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings4Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings4Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings4Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 4 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings4Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings4Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings5Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings5Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings5Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 5 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings5Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings5Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_After2015TradeFinancingBorrowings6Member" xlink:label="loc_itub_After2015TradeFinancingBorrowings6Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_After2015TradeFinancingBorrowings6Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">After 2015 Trade Financing Borrowings 6 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_After2015TradeFinancingBorrowings6Member" xlink:to="lab_itub_After2015TradeFinancingBorrowings6Member"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DebtInstrumentDateOfMaturity" xlink:label="loc_itub_DebtInstrumentDateOfMaturity"/>
    <label xlink:type="resource" xlink:label="lab_itub_DebtInstrumentDateOfMaturity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debt Instrument Date Of Maturity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DebtInstrumentDateOfMaturity" xlink:to="lab_itub_DebtInstrumentDateOfMaturity"/>
    <label xlink:type="resource" xlink:label="lab_itub_DebtInstrumentDateOfMaturity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maturity</label>
    <label xlink:type="resource" xlink:label="lab_itub_DebtInstrumentDateOfMaturity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Date when the debt instrument is scheduled to be fully repaid, which may be presented in a variety of ways (year, month and year, day, month and year, quarter, etc.).</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CurrencyDomain" xlink:label="loc_itub_CurrencyDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_CurrencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Currency [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CurrencyDomain" xlink:to="lab_itub_CurrencyDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_CurrencyDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Type of currencies like us dollar, japan yen,euro,brazilian reais</label>
    <label xlink:type="resource" xlink:label="lab_itub_CurrencyDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Currency [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_USDollarsMember" xlink:label="loc_itub_USDollarsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_USDollarsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">U.S Dollars [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_USDollarsMember" xlink:to="lab_itub_USDollarsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_JapanYenMember" xlink:label="loc_itub_JapanYenMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_JapanYenMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Japan Yen [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_JapanYenMember" xlink:to="lab_itub_JapanYenMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EuroMember" xlink:label="loc_itub_EuroMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_EuroMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Euro [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EuroMember" xlink:to="lab_itub_EuroMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BrazilReaisMember" xlink:label="loc_itub_BrazilReaisMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BrazilReaisMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brazil Reais [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BrazilReaisMember" xlink:to="lab_itub_BrazilReaisMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ChileanPesoMember" xlink:label="loc_itub_ChileanPesoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ChileanPesoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Chilean Peso [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ChileanPesoMember" xlink:to="lab_itub_ChileanPesoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SwissFrancMember" xlink:label="loc_itub_SwissFrancMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_SwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Swiss Franc [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SwissFrancMember" xlink:to="lab_itub_SwissFrancMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ForeignCurrenyLineItems" xlink:label="loc_itub_ForeignCurrenyLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignCurrenyLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Curreny [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForeignCurrenyLineItems" xlink:to="lab_itub_ForeignCurrenyLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignCurrenyLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignCurrenyLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Foreign Curreny [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestRatesOnForeignCurrencyDenominatedBalances" xlink:label="loc_itub_InterestRatesOnForeignCurrencyDenominatedBalances"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRatesOnForeignCurrencyDenominatedBalances" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rates On Foreign Currency Denominated Balances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestRatesOnForeignCurrencyDenominatedBalances" xlink:to="lab_itub_InterestRatesOnForeignCurrencyDenominatedBalances"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRatesOnForeignCurrencyDenominatedBalances" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Currency</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRatesOnForeignCurrencyDenominatedBalances" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of interest rates on foreign currency denominated balances.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_Debentures2010Member" xlink:label="loc_itub_Debentures2010Member"/>
    <label xlink:type="resource" xlink:label="lab_itub_Debentures2010Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Debentures 2010 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateFive2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Five 2012 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateSix2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Six 2012 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateSeven2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Seven 2012 [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BankDepositCertificateNine2012Member" xlink:to="lab_itub_BankDepositCertificateNine2012Member"/>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateTen2012Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Ten 2012 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateTen2013Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Ten 2013 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_BankDepositCertificateTwelve2013Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Bank Deposit Certificate Twelve 2013 [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Due within one year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 1 to 2 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 2 to 3 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 3 to 4 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal in Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 4 to 5 years</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Maturities, Repayments of Principal after Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">After 5 years</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LongTermDebtTextualsAbstract" xlink:label="loc_itub_LongTermDebtTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long Term Debt (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LongTermDebtTextualsAbstract" xlink:to="lab_itub_LongTermDebtTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">LONG TERM DEBT (Textuals)</label>
    <label xlink:type="resource" xlink:label="lab_itub_LongTermDebtTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long Term Debt (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeaseObligations" xlink:label="loc_us-gaap_CapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Lease Obligations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeaseObligations" xlink:to="lab_us-gaap_CapitalLeaseObligations"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeaseObligations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capital Lease Obligations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:label="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:to="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtPercentageBearingFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestRateOfMortgageNotes" xlink:label="loc_itub_InterestRateOfMortgageNotes"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRateOfMortgageNotes" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Of Mortgage Notes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestRateOfMortgageNotes" xlink:to="lab_itub_InterestRateOfMortgageNotes"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRateOfMortgageNotes" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Interest rate of mortgage notes.</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestRateOfMortgageNotes" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest Rate Of Mortgage Notes</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherLiabilitiesDetailsAbstract" xlink:label="loc_itub_OtherLiabilitiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Liabilities (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherLiabilitiesDetailsAbstract" xlink:to="lab_itub_OtherLiabilitiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other Liabilities (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Liabilities (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CreditMember" xlink:label="loc_us-gaap_CreditMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditMember" xlink:to="lab_us-gaap_CreditMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FutureMember" xlink:label="loc_us-gaap_FutureMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FutureMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FutureMember" xlink:to="lab_us-gaap_FutureMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:label="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule of Trading Securities and Other Trading Assets [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:to="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfTradingSecuritiesAndOtherTradingAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Trading Securities and Other Trading Assets [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PayableToMerchantsForCreditCardTransactions" xlink:label="loc_itub_PayableToMerchantsForCreditCardTransactions"/>
    <label xlink:type="resource" xlink:label="lab_itub_PayableToMerchantsForCreditCardTransactions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payable To Merchants For Credit Card Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PayableToMerchantsForCreditCardTransactions" xlink:to="lab_itub_PayableToMerchantsForCreditCardTransactions"/>
    <label xlink:type="resource" xlink:label="lab_itub_PayableToMerchantsForCreditCardTransactions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payable to merchants for credit card transactions</label>
    <label xlink:type="resource" xlink:label="lab_itub_PayableToMerchantsForCreditCardTransactions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The total amount of payable to merchants for credit transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingentLiabilities" xlink:label="loc_itub_ContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingent Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingentLiabilities" xlink:to="lab_itub_ContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contingent liabilities (Note 30b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of contingent liabilities as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeLiabilitiesAbstract" xlink:label="loc_us-gaap_DerivativeLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilitiesAbstract" xlink:to="lab_us-gaap_DerivativeLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative Instrument</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Derivative financial instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrual for Taxes Other than Income Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:to="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccrualForTaxesOtherThanIncomeTaxesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes (other than income)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesPayableAndChallengedInCourt" xlink:label="loc_itub_TaxesPayableAndChallengedInCourt"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesPayableAndChallengedInCourt" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes Payable and Challenged In Court</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesPayableAndChallengedInCourt" xlink:to="lab_itub_TaxesPayableAndChallengedInCourt"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesPayableAndChallengedInCourt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes payable and challenged in court (Note 30b)</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesPayableAndChallengedInCourt" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of taxes payable where the company filed lawsuits related to taxes in which we challenge the position of federal, state or municipal governments based on grounds of illegality as unconstitutionality.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance" xlink:label="loc_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Third Party Taxes Social Contributions and Other Pending Remittance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance" xlink:to="lab_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Collection of third-party taxes, social contributions and other</label>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyTaxesSocialContributionsAndOtherPendingRemittance" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The total amounts of third-party taxes, social contributions and other and pending remittance to the regulatory authority as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PayableForSecuritiesPurchased" xlink:label="loc_itub_PayableForSecuritiesPurchased"/>
    <label xlink:type="resource" xlink:label="lab_itub_PayableForSecuritiesPurchased" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payable For Securities Purchased</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PayableForSecuritiesPurchased" xlink:to="lab_itub_PayableForSecuritiesPurchased"/>
    <label xlink:type="resource" xlink:label="lab_itub_PayableForSecuritiesPurchased" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payable for securities purchased (trade date)</label>
    <label xlink:type="resource" xlink:label="lab_itub_PayableForSecuritiesPurchased" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The total amounts of payable for securities purchased as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee-related Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Labor liabilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccruedIncomeTaxes" xlink:label="loc_us-gaap_AccruedIncomeTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccruedIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Accrued Income Taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedIncomeTaxes" xlink:to="lab_us-gaap_AccruedIncomeTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AccruedIncomeTaxes" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes on income</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestOnStockholdersEquityPayable" xlink:label="loc_itub_InterestOnStockholdersEquityPayable"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPayable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest On Stockholders Equity Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestOnStockholdersEquityPayable" xlink:to="lab_itub_InterestOnStockholdersEquityPayable"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest on stockholders' equity payable</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestOnStockholdersEquityPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying value as of the balance sheet date of [accrued] interest payable on stockholders equity payable hat has been incurred and is unpaid.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AcquisitionsPayable" xlink:label="loc_itub_AcquisitionsPayable"/>
    <label xlink:type="resource" xlink:label="lab_itub_AcquisitionsPayable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquisitions Payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AcquisitionsPayable" xlink:to="lab_itub_AcquisitionsPayable"/>
    <label xlink:type="resource" xlink:label="lab_itub_AcquisitionsPayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payable related to acquisitions (Note 35)</label>
    <label xlink:type="resource" xlink:label="lab_itub_AcquisitionsPayable" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of payable related to acquisitions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:label="loc_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Compensation Liability, Current and Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:to="lab_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Deferred Compensation Liability</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredCompensationLiabilityCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock-based compensation (Note 26)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ForeignExchangePortfolioNet" xlink:label="loc_itub_ForeignExchangePortfolioNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignExchangePortfolioNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Exchange Portfolio Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForeignExchangePortfolioNet" xlink:to="lab_itub_ForeignExchangePortfolioNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignExchangePortfolioNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Foreign exchange portfolio, net</label>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignExchangePortfolioNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of foreign exchange portfolio net as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities" xlink:label="loc_us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Pension Plan, Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities" xlink:to="lab_us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPensionPlanCurrentAndNoncurrentLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accrued pension plan benefits (Note 25c)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GuaranteesFairValueDisclosure" xlink:label="loc_us-gaap_GuaranteesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Guarantees, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteesFairValueDisclosure" xlink:to="lab_us-gaap_GuaranteesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Guarantees, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value of guarantees granted (Note 29e)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredRevenueAndCredits" xlink:label="loc_us-gaap_DeferredRevenueAndCredits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredRevenueAndCredits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Revenue and Credits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRevenueAndCredits" xlink:to="lab_us-gaap_DeferredRevenueAndCredits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredRevenueAndCredits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred credits related to strategic partnership with CBD and LASA</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherSundryLiabilities" xlink:label="loc_us-gaap_OtherSundryLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherSundryLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Sundry Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherSundryLiabilities" xlink:to="lab_us-gaap_OtherSundryLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherSundryLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StockholdersEquityDetailsAbstract" xlink:label="loc_itub_StockholdersEquityDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders Equity (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StockholdersEquityDetailsAbstract" xlink:to="lab_itub_StockholdersEquityDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">STOCKHOLDERS' EQUITY (Details)</label>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stockholders Equity (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaap_ClassOfStockLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Class of Stock [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockAcquisitionFairValuePerShare" xlink:label="loc_itub_TreasuryStockAcquisitionFairValuePerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionFairValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Acquisition Fair Value Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockAcquisitionFairValuePerShare" xlink:to="lab_itub_TreasuryStockAcquisitionFairValuePerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionFairValuePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock held by Itaubanco defined contribution plan in excess of the individual accounts of participants</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionFairValuePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Fair value of treasury stock per share.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockAcquisitionMinimumCostPerShare" xlink:label="loc_itub_TreasuryStockAcquisitionMinimumCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMinimumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Acquisition Minimum Cost Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockAcquisitionMinimumCostPerShare" xlink:to="lab_itub_TreasuryStockAcquisitionMinimumCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMinimumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMinimumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Minimum cost of treasury stock per share.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockAcquisitionWeightedAverageCostPerShare" xlink:label="loc_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Acquisition Weighted Average Cost Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare" xlink:to="lab_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionWeightedAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Weighted average cost of treasury stock per share.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockAcquisitionMaximumCostPerShare" xlink:label="loc_itub_TreasuryStockAcquisitionMaximumCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMaximumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Acquisition Maximum Cost Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockAcquisitionMaximumCostPerShare" xlink:to="lab_itub_TreasuryStockAcquisitionMaximumCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMaximumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAcquisitionMaximumCostPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum cost of treasury stock per share.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BalanceOfTreasuryStockAbstract" xlink:label="loc_itub_BalanceOfTreasuryStockAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BalanceOfTreasuryStockAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Balance Of Treasury Stock [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BalanceOfTreasuryStockAbstract" xlink:to="lab_itub_BalanceOfTreasuryStockAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BalanceOfTreasuryStockAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance of treasury stock</label>
    <label xlink:type="resource" xlink:label="lab_itub_BalanceOfTreasuryStockAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Balance Of Treasury Stock.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockAverageCostPerShare" xlink:label="loc_itub_TreasuryStockAverageCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Average Cost Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockAverageCostPerShare" xlink:to="lab_itub_TreasuryStockAverageCostPerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Average cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockAverageCostPerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Total cost of shares repurchased divided by the total number of shares repurchased as at the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TreasuryStockMarketValuePerShare" xlink:label="loc_itub_TreasuryStockMarketValuePerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockMarketValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Treasury Stock Market Value Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TreasuryStockMarketValuePerShare" xlink:to="lab_itub_TreasuryStockMarketValuePerShare"/>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockMarketValuePerShare" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Quoted Market Value of shares in BOVESPA (Sao Paulo Stock exchange) at December, 31</label>
    <label xlink:type="resource" xlink:label="lab_itub_TreasuryStockMarketValuePerShare" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Market price of treasury stock per share as at the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ParentCompanyMember" xlink:label="loc_us-gaap_ParentCompanyMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ParentCompanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Parent Company [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentCompanyMember" xlink:to="lab_us-gaap_ParentCompanyMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ConsolidationEliminationsMember" xlink:label="loc_us-gaap_ConsolidationEliminationsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ConsolidationEliminationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consolidation, Eliminations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationEliminationsMember" xlink:to="lab_us-gaap_ConsolidationEliminationsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAdjustmentsLineItems" xlink:label="loc_us-gaap_RetainedEarningsAdjustmentsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAdjustmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Retained Earnings Adjustments [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAdjustmentsLineItems" xlink:to="lab_us-gaap_RetainedEarningsAdjustmentsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RetainedEarningsAdjustmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Retained Earnings Adjustments [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LegalReserve" xlink:label="loc_itub_LegalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_LegalReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Legal Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LegalReserve" xlink:to="lab_itub_LegalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_LegalReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Legal reserve</label>
    <label xlink:type="resource" xlink:label="lab_itub_LegalReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">A legal reserve, which is restricted as to distribution. The reserve may be used to increase capital or absorb losses, but it may not be distributed as dividends.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StatutoryReserveAbstract" xlink:label="loc_itub_StatutoryReserveAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StatutoryReserveAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Statutory Reserve [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StatutoryReserveAbstract" xlink:to="lab_itub_StatutoryReserveAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StatutoryReserveAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Statutory reserves:</label>
    <label xlink:type="resource" xlink:label="lab_itub_StatutoryReserveAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Statutory Reserve</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DividendEqualizationReserve" xlink:label="loc_itub_DividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividend Equalization Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DividendEqualizationReserve" xlink:to="lab_itub_DividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividend equalization</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Reserve for the purpose of paying dividends, including interest on stockholders' equity, with the objective of maintaining a payment flow to stockholders.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncreaseInWorkingCapitalReserve" xlink:label="loc_itub_IncreaseInWorkingCapitalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInWorkingCapitalReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase In Working Capital Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncreaseInWorkingCapitalReserve" xlink:to="lab_itub_IncreaseInWorkingCapitalReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInWorkingCapitalReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Increase in working capital</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInWorkingCapitalReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Reserve created for the purpose of accruing funds for Parent Holding&#8217;s operations.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncreaseInInterestInInvesteesReserve" xlink:label="loc_itub_IncreaseInInterestInInvesteesReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInInterestInInvesteesReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase In Interest In Investees Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncreaseInInterestInInvesteesReserve" xlink:to="lab_itub_IncreaseInInterestInInvesteesReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInInterestInInvesteesReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Increase in interest in investees</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseInInterestInInvesteesReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Reserve to accrue funds to exercise the right of first refusal in capital increases in companies we have an interest in.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnrealizedProfitsReserve" xlink:label="loc_itub_UnrealizedProfitsReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrealizedProfitsReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrealized Profits Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnrealizedProfitsReserve" xlink:to="lab_itub_UnrealizedProfitsReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrealizedProfitsReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Unrealized profits</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrealizedProfitsReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This reserve represents income recorded for accounting purposes in individual financial statements, as equity in the earnings of unconsolidated investments, which has not yet been received in cash.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StockholdersEquityTextualsAbstract" xlink:label="loc_itub_StockholdersEquityTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stockholders Equity (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StockholdersEquityTextualsAbstract" xlink:to="lab_itub_StockholdersEquityTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">STOCKHOLDERS' EQUITY (Textuals)</label>
    <label xlink:type="resource" xlink:label="lab_itub_StockholdersEquityTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stockholders Equity (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReservesLineItems" xlink:label="loc_itub_ReservesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReservesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reserves [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReservesLineItems" xlink:to="lab_itub_ReservesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReservesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReservesLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Reserves [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StockBonusPercentage" xlink:label="loc_itub_StockBonusPercentage"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockBonusPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Bonus Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StockBonusPercentage" xlink:to="lab_itub_StockBonusPercentage"/>
    <label xlink:type="resource" xlink:label="lab_itub_StockBonusPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock Bonus Percentage</label>
    <label xlink:type="resource" xlink:label="lab_itub_StockBonusPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of Stock bonus over shares by issuing one additional share per each ten shares previosly owned.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MinimumMandatoryDividendRatePercentage" xlink:label="loc_itub_MinimumMandatoryDividendRatePercentage"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumMandatoryDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Mandatory Dividend Rate Percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MinimumMandatoryDividendRatePercentage" xlink:to="lab_itub_MinimumMandatoryDividendRatePercentage"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumMandatoryDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum Mandatory Dividend Percentage</label>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumMandatoryDividendRatePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage rate of minimum mandatory dividend to all stockholders.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MinimumRequirementOfLegalReserveToBeMaintained" xlink:label="loc_itub_MinimumRequirementOfLegalReserveToBeMaintained"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRequirementOfLegalReserveToBeMaintained" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Requirement Of Legal Reserve To Be Maintained</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MinimumRequirementOfLegalReserveToBeMaintained" xlink:to="lab_itub_MinimumRequirementOfLegalReserveToBeMaintained"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRequirementOfLegalReserveToBeMaintained" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum Requirement of Legal Reserve to be Maintained</label>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRequirementOfLegalReserveToBeMaintained" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Minimum requirement of legal reserve to be maintained under Brazilian corporate law.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompositionOfDividendEqualizationReserve" xlink:label="loc_itub_CompositionOfDividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Composition Of Dividend Equalization Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompositionOfDividendEqualizationReserve" xlink:to="lab_itub_CompositionOfDividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Composition of Dividend Equalization Reserve</label>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Composition of dividend equalization reserve.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MaximumLimitOfDividendEqualizationReserve" xlink:label="loc_itub_MaximumLimitOfDividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maximum Limit Of Dividend Equalization Reserve</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MaximumLimitOfDividendEqualizationReserve" xlink:to="lab_itub_MaximumLimitOfDividendEqualizationReserve"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum Limit of Dividend Equalization Reserve</label>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfDividendEqualizationReserve" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum Limit of dividend equalization reserve.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompositionOfReserveForIncreaseInWorkingCapital" xlink:label="loc_itub_CompositionOfReserveForIncreaseInWorkingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Composition Of Reserve For Increase In Working Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompositionOfReserveForIncreaseInWorkingCapital" xlink:to="lab_itub_CompositionOfReserveForIncreaseInWorkingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Composition of Reserve for Increase in Working Capital</label>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Composition of reserve for increase in working capital.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MaximumLimitOfReserveForIncreaseInWorkingCapital" xlink:label="loc_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maximum Limit Of Reserve For Increase In Working Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital" xlink:to="lab_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum Limit of Reserve for Increase in Working Capital</label>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInWorkingCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum limit of reserve for increase in working capital.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompositionOfReserveForIncreaseInInterestInInvestees" xlink:label="loc_itub_CompositionOfReserveForIncreaseInInterestInInvestees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Composition Of Reserve For Increase In Interest In Investees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompositionOfReserveForIncreaseInInterestInInvestees" xlink:to="lab_itub_CompositionOfReserveForIncreaseInInterestInInvestees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Composition of Reserve for Increase in Interest in Investees</label>
    <label xlink:type="resource" xlink:label="lab_itub_CompositionOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Composition of reserve for increase in interest in investees.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees" xlink:label="loc_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maximum Limit Of Reserve For Increase In Interest In Investees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees" xlink:to="lab_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees"/>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum Limit of Reserve for Increase in Interest in Investees</label>
    <label xlink:type="resource" xlink:label="lab_itub_MaximumLimitOfReserveForIncreaseInInterestInInvestees" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum limit of reserve for increase in interest in investees.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EarningsPerShareDetailsAbstract" xlink:label="loc_itub_EarningsPerShareDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EarningsPerShareDetailsAbstract" xlink:to="lab_itub_EarningsPerShareDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">EARNINGS PER SHARE (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings Per Share (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EarningsPerShareLineItems" xlink:label="loc_itub_EarningsPerShareLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EarningsPerShareLineItems" xlink:to="lab_itub_EarningsPerShareLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings Per Share [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:label="loc_us-gaap_PreferredStockDividendsAndOtherAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Preferred Stock Dividends and Other Adjustments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:to="lab_us-gaap_PreferredStockDividendsAndOtherAdjustments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PreferredStockDividendsAndOtherAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum non-cumulative dividend on preferred shares in accordance with our by-laws</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subtotal</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MinimumRetainedEarningsDistributionToCommonStockholders" xlink:label="loc_itub_MinimumRetainedEarningsDistributionToCommonStockholders"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRetainedEarningsDistributionToCommonStockholders" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Retained Earnings Distribution To Common Stockholders</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MinimumRetainedEarningsDistributionToCommonStockholders" xlink:to="lab_itub_MinimumRetainedEarningsDistributionToCommonStockholders"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRetainedEarningsDistributionToCommonStockholders" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Retained earnings to be distributed to common stockholders in an amount per share equal to the minimum dividend payable to preferred stockholders</label>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRetainedEarningsDistributionToCommonStockholders" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Represents retained earnings to be distributed to common stockholders in an amount per share equal to the minimum dividend payable to preferred stockholders.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution" xlink:label="loc_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Income Loss After Minimum Retained Earnings Distribution</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution" xlink:to="lab_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Retained earnings</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAfterMinimumRetainedEarningsDistribution" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net income after adjustments for dividends on preferred stock (declared in the period) and retained earnings distributed to common stockholders in an amount per share equal to the minimum dividend payable to preferred stockholders.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract" xlink:label="loc_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Retained Earnings To Be Distributed To Common and Preferred Stockholders [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract" xlink:to="lab_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Retained earnings to be distributed to common and preferred stockholders on a pro-rata basis:</label>
    <label xlink:type="resource" xlink:label="lab_itub_RetainedEarningsToBeDistributedToCommonAndPreferredStockholdersAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Retained Earnings To Be Distributed To Common And Preferred Stockholders</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DividendOnIncrementalPreferredShares" xlink:label="loc_itub_DividendOnIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendOnIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividend On Incremental Preferred Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DividendOnIncrementalPreferredShares" xlink:to="lab_itub_DividendOnIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendOnIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividend on incremental preferred shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendOnIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Dividend on incremental preferred shares.</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendOnIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xml:lang="en-US">Dividend on incremental preferred shares</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares" xlink:label="loc_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Income Loss Available To Preferred Stockholders After Considering Incremental Preferred Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares" xlink:to="lab_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net income available to preferred stockholders considering incremental preferred shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetIncomeLossAvailableToPreferredStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net income available to preferred stockholders considering incremental preferred shares.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares" xlink:label="loc_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Netincome Loss Available To Common Stockholders After Considering Incremental Preferred Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares" xlink:to="lab_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net income available to common stockholders considering incremental preferred shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetincomeLossAvailableToCommonStockholdersAfterConsideringIncrementalPreferredShares" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net income available to common stockholders considering incremental preferred shares.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:label="loc_itub_AdjustedWeightedAverageSharesDilutedAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjusted Weighted Average Shares Diluted [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:to="lab_itub_AdjustedWeightedAverageSharesDilutedAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Adjusted weighted average shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Adjusted weighted average shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageSharesDilutedAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Adjusted Weighted Average Shares Diluted.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted" xlink:label="loc_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjusted Weighted Average Number Of Preferred Shares Oustanding Diluted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted" xlink:to="lab_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Preferred shares</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustedWeightedAverageNumberOfPreferredSharesOustandingDiluted" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The adjusted average number of preferred shares outstanding that are used in calculating diluted EPS.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Incremental Preferred Shares Attributable To Share Based Payment Arrangements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements" xlink:to="lab_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Incremental shares from share based compensation plans (Note 26)</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncrementalPreferredSharesAttributableToShareBasedPaymentArrangements" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EarningsPerShareTextualsAbstract" xlink:label="loc_itub_EarningsPerShareTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Earnings Per Share (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EarningsPerShareTextualsAbstract" xlink:to="lab_itub_EarningsPerShareTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">EARNINGS PER SHARE (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_EarningsPerShareTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Earnings Per Share (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeDetailsAbstract" xlink:label="loc_itub_TaxesOnIncomeDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeDetailsAbstract" xlink:to="lab_itub_TaxesOnIncomeDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Federal income tax</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SocialContributionRate" xlink:label="loc_itub_SocialContributionRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_SocialContributionRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Social Contribution Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SocialContributionRate" xlink:to="lab_itub_SocialContributionRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_SocialContributionRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Social contribution on net income</label>
    <label xlink:type="resource" xlink:label="lab_itub_SocialContributionRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The tax rate applicable to social contributions on net incomce.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompositeRate" xlink:label="loc_itub_CompositeRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositeRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Composite Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompositeRate" xlink:to="lab_itub_CompositeRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompositeRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Composite rate</label>
    <label xlink:type="resource" xlink:label="lab_itub_CompositeRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Total tax rate of federal income tax and social contribution on net income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeDetails1Abstract" xlink:label="loc_itub_TaxesOnIncomeDetails1Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Details 1) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeDetails1Abstract" xlink:to="lab_itub_TaxesOnIncomeDetails1Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details 1).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Details 1) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary" xlink:label="loc_us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Equity in Earnings (Losses) of Unconsolidated Subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary" xlink:to="lab_us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationEquityInEarningsLossesOfUnconsolidatedSubsidiary" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity in earnings of unconsolidated companies, net</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CalculatedTaxBasis" xlink:label="loc_itub_CalculatedTaxBasis"/>
    <label xlink:type="resource" xlink:label="lab_itub_CalculatedTaxBasis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Calculated Tax Basis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CalculatedTaxBasis" xlink:to="lab_itub_CalculatedTaxBasis"/>
    <label xlink:type="resource" xlink:label="lab_itub_CalculatedTaxBasis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Calculation basis</label>
    <label xlink:type="resource" xlink:label="lab_itub_CalculatedTaxBasis" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of calculated balance during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:label="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tax expense at statutory rates</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries" xlink:label="loc_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nontaxable Deductible Exchange Gains Losses On Foreign Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries" xlink:to="lab_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nontaxable (deductible) exchange gains (losses) on foreign subsidiaries</label>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDeductibleExchangeGainsLossesOnForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of nontaxable (deductible) exchange gains (losses) on foreign subsidiaries for the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:label="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Nondeductible Expense, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:to="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nondeductible expenses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NontaxableDividendsOnCompaniesRecordedAtCost" xlink:label="loc_itub_NontaxableDividendsOnCompaniesRecordedAtCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDividendsOnCompaniesRecordedAtCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nontaxable Dividends On Companies Recorded At Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NontaxableDividendsOnCompaniesRecordedAtCost" xlink:to="lab_itub_NontaxableDividendsOnCompaniesRecordedAtCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDividendsOnCompaniesRecordedAtCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nontaxable dividends on companies recorded at cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableDividendsOnCompaniesRecordedAtCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of nontaxable dividends on companies recorded at cost for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxBenefitOnInterestOnShareholdersEquity" xlink:label="loc_itub_TaxBenefitOnInterestOnShareholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxBenefitOnInterestOnShareholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax Benefit On Interest On Shareholders Equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxBenefitOnInterestOnShareholdersEquity" xlink:to="lab_itub_TaxBenefitOnInterestOnShareholdersEquity"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxBenefitOnInterestOnShareholdersEquity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net tax benefit on interest on shareholders&#8217; equity</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxBenefitOnInterestOnShareholdersEquity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of tax benefit on interest on shareholders equity for the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost" xlink:label="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Nondeductible Expense, Share-based Compensation Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost" xlink:to="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nondeductible stock-based compensation (non deductible) / taxable</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NontaxableInterestOnForeignGovernmentDebtSecurities" xlink:label="loc_itub_NontaxableInterestOnForeignGovernmentDebtSecurities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableInterestOnForeignGovernmentDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nontaxable Interest On Foreign Government Debt Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NontaxableInterestOnForeignGovernmentDebtSecurities" xlink:to="lab_itub_NontaxableInterestOnForeignGovernmentDebtSecurities"/>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableInterestOnForeignGovernmentDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nontaxable interest on foreign government debt securities</label>
    <label xlink:type="resource" xlink:label="lab_itub_NontaxableInterestOnForeignGovernmentDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of nontaxable interest on foreign government debt securities for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConstitutionOfValuationAllowance" xlink:label="loc_itub_ConstitutionOfValuationAllowance"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Constitution Of Valuation Allowance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConstitutionOfValuationAllowance" xlink:to="lab_itub_ConstitutionOfValuationAllowance"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Constitution of valuation allowance</label>
    <label xlink:type="resource" xlink:label="lab_itub_ConstitutionOfValuationAllowance" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of constitution of valuation allowance for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EffectOfChangesInSocialContributionRateOnDeferredTax" xlink:label="loc_itub_EffectOfChangesInSocialContributionRateOnDeferredTax"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfChangesInSocialContributionRateOnDeferredTax" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effect Of Changes In Social Contribution Rate On Deferred Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EffectOfChangesInSocialContributionRateOnDeferredTax" xlink:to="lab_itub_EffectOfChangesInSocialContributionRateOnDeferredTax"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfChangesInSocialContributionRateOnDeferredTax" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect of increase in social contribution rate &#8211; deferred tax</label>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfChangesInSocialContributionRateOnDeferredTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of changes in social contribution rate on deferred tax for the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:label="loc_us-gaap_IncomeTaxReconciliationOtherReconcilingItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Other Reconciling Items</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:to="lab_us-gaap_IncomeTaxReconciliationOtherReconcilingItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationOtherReconcilingItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other differences</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeDetails2Abstract" xlink:label="loc_itub_TaxesOnIncomeDetails2Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails2Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Details 2) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeDetails2Abstract" xlink:to="lab_itub_TaxesOnIncomeDetails2Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails2Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details 2).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails2Abstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Details 2) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionsNotCurrentlyDeductibleAbstract" xlink:label="loc_itub_ProvisionsNotCurrentlyDeductibleAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provisions Not Currently Deductible [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionsNotCurrentlyDeductibleAbstract" xlink:to="lab_itub_ProvisionsNotCurrentlyDeductibleAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provisions not currently deductible :</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Provisions Not Currently Deductible.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses" xlink:label="loc_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provisions Not Currently Deductible Allowance For Loan and Lease Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses" xlink:to="lab_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Allowance for loan and lease losses</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The sum of the provisions not currently deductible as of the balance sheet date of the amount of allowance for loan and lease losses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity" xlink:label="loc_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provisions Not Currently Deductible Taxes and Social Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity" xlink:to="lab_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes and Social Security</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleTaxesAndSocialSecurity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The sum of the provisions not currently deductible as of the balance sheet date of the amount of taxes and social securitiy.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionsNotCurrentlyDeductibleOtherProvisions" xlink:label="loc_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provisions Not Currently Deductible Other Provisions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions" xlink:to="lab_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other provisions</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionsNotCurrentlyDeductibleOtherProvisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The sum of the provisions not currently deductible as of the balance sheet date of the amount of other provisions.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Assets, Operating Loss Carryforwards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:to="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tax loss carryforwards</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill" xlink:label="loc_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Assets For Excess Tax Deductible Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill" xlink:to="lab_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax asset for excess tax-deductible goodwill</label>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxAssetsForExcessTaxDeductibleGoodwill" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of deferred tax asset for excess tax deductible goodwill as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="loc_us-gaap_DeferredTaxAssetsOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Assets, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsOther" xlink:to="lab_us-gaap_DeferredTaxAssetsOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other temporary differences</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilities" xlink:label="loc_us-gaap_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilities" xlink:to="lab_us-gaap_DeferredTaxLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax liabilities</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases" xlink:label="loc_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Liabilities Temporary Differences Related To Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases" xlink:to="lab_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Temporary differences related to leases</label>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesTemporaryDifferencesRelatedToLeases" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of deferred tax liabilities temporary differences related to leases as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Liabilities, Prepaid Pension Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesPrepaidPensionCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension plan prepaid assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DeferredTaxLiabilitiesGainOnRedecardTransaction" xlink:label="loc_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Liabilities Gain On Redecard Transaction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction" xlink:to="lab_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction"/>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on Redecard transaction</label>
    <label xlink:type="resource" xlink:label="lab_itub_DeferredTaxLiabilitiesGainOnRedecardTransaction" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of deferred tax liabilities for gain on redecard transaction.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxLiabilitiesOther" xlink:label="loc_us-gaap_DeferredTaxLiabilitiesOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Liabilities, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxLiabilitiesOther" xlink:to="lab_us-gaap_DeferredTaxLiabilitiesOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxLiabilitiesOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other temporary differences that include intangibles obtained in business combinations</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deferred Tax Assets (Liabilities), Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deferred tax liabilities/assets, included in Other liabilities/assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeDetails3Abstract" xlink:label="loc_itub_TaxesOnIncomeDetails3Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails3Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Details 3) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeDetails3Abstract" xlink:to="lab_itub_TaxesOnIncomeDetails3Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails3Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details 3).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails3Abstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Details 3) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrecognizedTaxBenefits" xlink:label="loc_us-gaap_UnrecognizedTaxBenefits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefits" xlink:to="lab_us-gaap_UnrecognizedTaxBenefits"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">At the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">At the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefits" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">At the end of the year</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnrecognizedTaxBenefitsBalanceOfAcquisition" xlink:label="loc_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits Balance Of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition" xlink:to="lab_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance of Unibanco&#8217;s acquisition</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount for balance of acquisition for the period in unrecognized tax benefits.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gross amount of increases for prior years&#8217; tax positions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits, Decreases Resulting from Settlements with Taxing Authorities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amounts of decreases related to settlements</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeDetails4Abstract" xlink:label="loc_itub_TaxesOnIncomeDetails4Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails4Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Details 4) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeDetails4Abstract" xlink:to="lab_itub_TaxesOnIncomeDetails4Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails4Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details 4).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeDetails4Abstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Details 4) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:label="loc_itub_UnrecognizedTaxBenefitsInterestAndPenalties"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits Interest and Penalties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:to="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">At the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">At the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">At the end of the year</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenalties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This element represents the changes in interest and penalties included in unrecognized tax benefits.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestAndPenaltiesBalanceOfAcquisition" xlink:label="loc_itub_InterestAndPenaltiesBalanceOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestAndPenaltiesBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest and Penalties Balance Of Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestAndPenaltiesBalanceOfAcquisition" xlink:to="lab_itub_InterestAndPenaltiesBalanceOfAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestAndPenaltiesBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance of Unibanco&#8217;s acquisition</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestAndPenaltiesBalanceOfAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount for balance of acquisition for the period in interest and penalties included in unrecognized tax benefits.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:label="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:to="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total interest and penalties recognized during the year</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments" xlink:label="loc_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits Interest and Penalties Reverted By Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments" xlink:to="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total interest and penalties reverted by payments</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByPayments" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount for interest and penalties reverted by payments for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram" xlink:label="loc_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unrecognized Tax Benefits Interest and Penalties Reverted By Fiscal Recovery Program</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram" xlink:to="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total interest and penalties reverted by REFIS</label>
    <label xlink:type="resource" xlink:label="lab_itub_UnrecognizedTaxBenefitsInterestAndPenaltiesRevertedByFiscalRecoveryProgram" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount for interest and penalties reverted by fiscal recovery program for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxesOnIncomeTextualsAbstract" xlink:label="loc_itub_TaxesOnIncomeTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes On Income (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxesOnIncomeTextualsAbstract" xlink:to="lab_itub_TaxesOnIncomeTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">TAXES ON INCOME (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxesOnIncomeTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes On Income (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncreaseOfRateForSocialContributionOnNetIncome" xlink:label="loc_itub_IncreaseOfRateForSocialContributionOnNetIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseOfRateForSocialContributionOnNetIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Increase Of Rate For Social Contribution On Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncreaseOfRateForSocialContributionOnNetIncome" xlink:to="lab_itub_IncreaseOfRateForSocialContributionOnNetIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseOfRateForSocialContributionOnNetIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Increase of Rate for social contribution on Net Income</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncreaseOfRateForSocialContributionOnNetIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Increase of Rate for social contribution on Net Income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FeeAndCommissionIncomeDetailsAbstract" xlink:label="loc_itub_FeeAndCommissionIncomeDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fee and Commission Income (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FeeAndCommissionIncomeDetailsAbstract" xlink:to="lab_itub_FeeAndCommissionIncomeDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FEE AND COMMISSION INCOME (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fee and Commission Income (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FeesAndCommissionsCreditCards" xlink:label="loc_us-gaap_FeesAndCommissionsCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsCreditCards" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fees and Commissions, Credit Cards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FeesAndCommissionsCreditCards" xlink:to="lab_us-gaap_FeesAndCommissionsCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsCreditCards" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Credit card fees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FeesAndCommissionsDepositorAccounts" xlink:label="loc_us-gaap_FeesAndCommissionsDepositorAccounts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsDepositorAccounts" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fees and Commissions, Depositor Accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FeesAndCommissionsDepositorAccounts" xlink:to="lab_us-gaap_FeesAndCommissionsDepositorAccounts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsDepositorAccounts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fees charged on checking account services</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetManagementFees" xlink:label="loc_us-gaap_AssetManagementFees"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetManagementFees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Asset Management Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetManagementFees" xlink:to="lab_us-gaap_AssetManagementFees"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetManagementFees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Asset management fees</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CollectionFees" xlink:label="loc_itub_CollectionFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CollectionFees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Collection Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CollectionFees" xlink:to="lab_itub_CollectionFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CollectionFees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Collection fees</label>
    <label xlink:type="resource" xlink:label="lab_itub_CollectionFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Fees received from customers for collection services provided during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GuarantyFeeIncome" xlink:label="loc_us-gaap_GuarantyFeeIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuarantyFeeIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Guaranty Fee Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuarantyFeeIncome" xlink:to="lab_us-gaap_GuarantyFeeIncome"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuarantyFeeIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fees for guarantees provided</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BrokerageCommissionsRevenue" xlink:label="loc_us-gaap_BrokerageCommissionsRevenue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BrokerageCommissionsRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Brokerage Commissions Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BrokerageCommissionsRevenue" xlink:to="lab_us-gaap_BrokerageCommissionsRevenue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BrokerageCommissionsRevenue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Brokerage commissions</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FeesAndCommissionsOther" xlink:label="loc_us-gaap_FeesAndCommissionsOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fees and Commissions, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FeesAndCommissionsOther" xlink:to="lab_us-gaap_FeesAndCommissionsOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FeesAndCommissionsOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdministrativeExpensesDetailsAbstract" xlink:label="loc_itub_AdministrativeExpensesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Administrative Expenses (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdministrativeExpensesDetailsAbstract" xlink:to="lab_itub_AdministrativeExpensesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">ADMINISTRATIVE EXPENSES (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Administrative Expenses (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ExternalAdministrativeExpenses" xlink:label="loc_itub_ExternalAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExternalAdministrativeExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">External Administrative Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ExternalAdministrativeExpenses" xlink:to="lab_itub_ExternalAdministrativeExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExternalAdministrativeExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">External administrative expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_ExternalAdministrativeExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount incurred towards external administrative expenses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdministrativeExpensesMaintenanceAndSecurity" xlink:label="loc_itub_AdministrativeExpensesMaintenanceAndSecurity"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesMaintenanceAndSecurity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Administrative Expenses Maintenance and Security</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdministrativeExpensesMaintenanceAndSecurity" xlink:to="lab_itub_AdministrativeExpensesMaintenanceAndSecurity"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesMaintenanceAndSecurity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maintenance and security expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpensesMaintenanceAndSecurity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount incurred towards maintenance and security expenses.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Communication" xlink:label="loc_us-gaap_Communication"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Communication" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Communication</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Communication" xlink:to="lab_us-gaap_Communication"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Communication" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Communication expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InformationTechnologyAndDataProcessing" xlink:label="loc_us-gaap_InformationTechnologyAndDataProcessing"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InformationTechnologyAndDataProcessing" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Information Technology and Data Processing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InformationTechnologyAndDataProcessing" xlink:to="lab_us-gaap_InformationTechnologyAndDataProcessing"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InformationTechnologyAndDataProcessing" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Technology expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LeaseAndRentalExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Operating Leases, Rent Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseAndRentalExpense" xlink:to="lab_us-gaap_LeaseAndRentalExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LeaseAndRentalExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Rent expenses (Note 30c)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="loc_us-gaap_AdvertisingExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdvertisingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Advertising Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdvertisingExpense" xlink:to="lab_us-gaap_AdvertisingExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AdvertisingExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Advertising expenses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdministrativeExpenseTransport" xlink:label="loc_itub_AdministrativeExpenseTransport"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpenseTransport" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Administrative Expense Transport</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdministrativeExpenseTransport" xlink:to="lab_itub_AdministrativeExpenseTransport"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpenseTransport" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Transportation costs</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdministrativeExpenseTransport" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Cost incurred during the reporting period towards transporting goods and services to customers.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BankingAndBrokerageFees" xlink:label="loc_itub_BankingAndBrokerageFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_BankingAndBrokerageFees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banking and Brokerage Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BankingAndBrokerageFees" xlink:to="lab_itub_BankingAndBrokerageFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_BankingAndBrokerageFees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Banking and brokerage fees</label>
    <label xlink:type="resource" xlink:label="lab_itub_BankingAndBrokerageFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Total banking and brokerage fees expenses incurred for the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MarketingExpense" xlink:label="loc_us-gaap_MarketingExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MarketingExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Marketing Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MarketingExpense" xlink:to="lab_us-gaap_MarketingExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MarketingExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other marketing expenses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditCardOutsourcingProcessingFees" xlink:label="loc_itub_CreditCardOutsourcingProcessingFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardOutsourcingProcessingFees" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Card Outsourcing Processing Fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditCardOutsourcingProcessingFees" xlink:to="lab_itub_CreditCardOutsourcingProcessingFees"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardOutsourcingProcessingFees" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Credit card outsourcing processing fees</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardOutsourcingProcessingFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Cost incurred during the reporting period for outsourcing creit card processing service to customers.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SuppliesExpense" xlink:label="loc_us-gaap_SuppliesExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SuppliesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Supplies Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SuppliesExpense" xlink:to="lab_us-gaap_SuppliesExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SuppliesExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Office and technology supplies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UtilitiesCosts" xlink:label="loc_us-gaap_UtilitiesCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UtilitiesCosts" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Utilities Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UtilitiesCosts" xlink:to="lab_us-gaap_UtilitiesCosts"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UtilitiesCosts" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Utilities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TravelAndEntertainmentExpense" xlink:label="loc_us-gaap_TravelAndEntertainmentExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TravelAndEntertainmentExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Travel and Entertainment Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TravelAndEntertainmentExpense" xlink:to="lab_us-gaap_TravelAndEntertainmentExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TravelAndEntertainmentExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Traveling expenses</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherGeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_OtherGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other General and Administrative Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_OtherGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNonInterestIncomeAndExpensesDetailsAbstract" xlink:label="loc_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Non-Interest Income and Expenses (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract" xlink:to="lab_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">OTHER NON-INTEREST INCOME AND EXPENSES (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Non-Interest Income and Expenses (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnEarlyPaymentsToMerchantsCreditCards" xlink:label="loc_itub_GainOnEarlyPaymentsToMerchantsCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnEarlyPaymentsToMerchantsCreditCards" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Early Payments To Merchants Credit Cards</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnEarlyPaymentsToMerchantsCreditCards" xlink:to="lab_itub_GainOnEarlyPaymentsToMerchantsCreditCards"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnEarlyPaymentsToMerchantsCreditCards" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on early payments to merchants - credit cards</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnEarlyPaymentsToMerchantsCreditCards" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain (loss) resulting from early payment to merchants for credit cards during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IndexationChargesOfOtherAssets" xlink:label="loc_itub_IndexationChargesOfOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_IndexationChargesOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Indexation Charges Of Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IndexationChargesOfOtherAssets" xlink:to="lab_itub_IndexationChargesOfOtherAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_IndexationChargesOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Indexation charges of other assets</label>
    <label xlink:type="resource" xlink:label="lab_itub_IndexationChargesOfOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain (loss) resulting from indexation charges of other assets during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GainsLossesOnSalesOfAssets" xlink:label="loc_us-gaap_GainsLossesOnSalesOfAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainsLossesOnSalesOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gains (Losses) on Sales of Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnSalesOfAssets" xlink:to="lab_us-gaap_GainsLossesOnSalesOfAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GainsLossesOnSalesOfAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gains and losses on sale of foreclosed assets, premises and equipment and investments in unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnSaleOfEquityInterest" xlink:label="loc_itub_GainOnSaleOfEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Sale Of Equity Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnSaleOfEquityInterest" xlink:to="lab_itub_GainOnSaleOfEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gains on sale of equity interest</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain resulting from sale of equity interest during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnSaleOfAssetsOtherThanEquityInterest" xlink:label="loc_itub_GainOnSaleOfAssetsOtherThanEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfAssetsOtherThanEquityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Sale Of Assets Other Than Equity Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnSaleOfAssetsOtherThanEquityInterest" xlink:to="lab_itub_GainOnSaleOfAssetsOtherThanEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfAssetsOtherThanEquityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnSaleOfAssetsOtherThanEquityInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain resulting from sale of asset other than equity interest during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnExchangeOfAvailableForSaleEquitySecurities" xlink:label="loc_itub_GainOnExchangeOfAvailableForSaleEquitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfAvailableForSaleEquitySecurities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Exchange Of Available For Sale Equity Securities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnExchangeOfAvailableForSaleEquitySecurities" xlink:to="lab_itub_GainOnExchangeOfAvailableForSaleEquitySecurities"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfAvailableForSaleEquitySecurities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on exchange of shares of Bovespa Holding S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfAvailableForSaleEquitySecurities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain (loss) resulting from exchange of available for equity securities during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RecoveryOfExpenses" xlink:label="loc_itub_RecoveryOfExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecoveryOfExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Recovery Of Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RecoveryOfExpenses" xlink:to="lab_itub_RecoveryOfExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecoveryOfExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recovery of expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_RecoveryOfExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Recovery of expenses during the reporting period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DepositsRelatedToCommissions" xlink:label="loc_itub_DepositsRelatedToCommissions"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsRelatedToCommissions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Deposits Related To Commissions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DepositsRelatedToCommissions" xlink:to="lab_itub_DepositsRelatedToCommissions"/>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsRelatedToCommissions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Deposits related to commissions</label>
    <label xlink:type="resource" xlink:label="lab_itub_DepositsRelatedToCommissions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Includes amounts charged during the period for deposits related to commissions.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnExchangeOfEquityInterest" xlink:label="loc_itub_GainOnExchangeOfEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Exchange Of Equity Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnExchangeOfEquityInterest" xlink:to="lab_itub_GainOnExchangeOfEquityInterest"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain on exchange of equity interest in PSIUPAR (Note 3c)</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfEquityInterest" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The gain resulting from exchange of equity interest during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNoninterestIncomeOther" xlink:label="loc_itub_OtherNoninterestIncomeOther"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Noninterest Income Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNoninterestIncomeOther" xlink:to="lab_itub_OtherNoninterestIncomeOther"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of income resulting from other noninterest income other during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NoninterestIncomeOther" xlink:label="loc_us-gaap_NoninterestIncomeOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noninterest Income, Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOther" xlink:to="lab_us-gaap_NoninterestIncomeOther"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease" xlink:label="loc_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency Accrual, Carrying Value, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease" xlink:to="lab_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Changes in the period reflected in income</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualCarryingValuePeriodIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contingent liabilities (Note 30b)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TaxesExcludingIncomeAndExciseTaxes" xlink:label="loc_us-gaap_TaxesExcludingIncomeAndExciseTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Taxes, Miscellaneous</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TaxesExcludingIncomeAndExciseTaxes" xlink:to="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TaxesExcludingIncomeAndExciseTaxes" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Taxes on services, revenue and other taxes</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditCardExpenses" xlink:label="loc_itub_CreditCardExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Card Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditCardExpenses" xlink:to="lab_itub_CreditCardExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Credit card related expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditCardExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of expense related to credit card operations for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LossesFromThirdPartyFrauds" xlink:label="loc_itub_LossesFromThirdPartyFrauds"/>
    <label xlink:type="resource" xlink:label="lab_itub_LossesFromThirdPartyFrauds" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Losses From Third Party Frauds</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LossesFromThirdPartyFrauds" xlink:to="lab_itub_LossesFromThirdPartyFrauds"/>
    <label xlink:type="resource" xlink:label="lab_itub_LossesFromThirdPartyFrauds" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Losses from third-party frauds</label>
    <label xlink:type="resource" xlink:label="lab_itub_LossesFromThirdPartyFrauds" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of losses related third party frauds for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContributionsToDepositGuaranteeFund" xlink:label="loc_itub_ContributionsToDepositGuaranteeFund"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionsToDepositGuaranteeFund" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contributions To Deposit Guarantee Fund</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContributionsToDepositGuaranteeFund" xlink:to="lab_itub_ContributionsToDepositGuaranteeFund"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionsToDepositGuaranteeFund" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contributions to the Fundo Garantidor de Cr&#233;dito (Brazilian deposit guarantee fund)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionsToDepositGuaranteeFund" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of contributions related to deposit guarantee fund for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReimbursementInConnectionWithAcquisitions" xlink:label="loc_itub_ReimbursementInConnectionWithAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReimbursementInConnectionWithAcquisitions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reimbursement In Connection With Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReimbursementInConnectionWithAcquisitions" xlink:to="lab_itub_ReimbursementInConnectionWithAcquisitions"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReimbursementInConnectionWithAcquisitions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Reimbursement in connection with acquisitions</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReimbursementInConnectionWithAcquisitions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of expense related to reimbursement in connection with acquisitions for the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges" xlink:label="loc_us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Losses (Gains) on Sales of Assets and Asset Impairment Charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges" xlink:to="lab_us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossesGainsOnSalesOfAssetsAndAssetImpairmentCharges" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss on sale of foreclosed assets, premises and equipment in unconsolidated companies</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PaymentRelatedToExclusivityObligation" xlink:label="loc_itub_PaymentRelatedToExclusivityObligation"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExclusivityObligation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payment Related To Exclusivity Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PaymentRelatedToExclusivityObligation" xlink:to="lab_itub_PaymentRelatedToExclusivityObligation"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExclusivityObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payment related to exclusivity obligation - CBD (Note 34)</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExclusivityObligation" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of expense related to exclusivity obligation for the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNoninterestExpenseOther" xlink:label="loc_itub_OtherNoninterestExpenseOther"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Noninterest Expense Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNoninterestExpenseOther" xlink:to="lab_itub_OtherNoninterestExpenseOther"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNoninterestExpenseOther" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other noninterest expenses other that are not separately presented in any other noninterest expense category.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNonInterestIncomeAndExpensesTextualsAbstract" xlink:label="loc_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Non-Interest Income and Expenses (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract" xlink:to="lab_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">OTHER NON-INTEREST INCOME AND EXPENSES (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonInterestIncomeAndExpensesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Non-Interest Income and Expenses (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract" xlink:label="loc_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract" xlink:to="lab_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">PENSION PLANS AND OTHER POST RETIREMENT BENEFITS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:label="loc_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Defined Benefit Plans Disclosures [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:to="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Defined Benefit Plans Disclosures [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis" xlink:label="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Fair Value Of Plan Assets By Measurement [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis" xlink:to="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssetsByMeasurementAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan, Fair Value of Plan Assets by Measurement [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValuePlanAssetMeasurementDomain" xlink:label="loc_us-gaap_FairValuePlanAssetMeasurementDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValuePlanAssetMeasurementDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Plan Asset Measurement [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValuePlanAssetMeasurementDomain" xlink:to="lab_us-gaap_FairValuePlanAssetMeasurementDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValuePlanAssetMeasurementDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value Plan Asset Measurement [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaap_FairValueInputsLevel1Member"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueInputsLevel1Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member" xlink:to="lab_us-gaap_FairValueInputsLevel1Member"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaap_FairValueInputsLevel2Member"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueInputsLevel2Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member" xlink:to="lab_us-gaap_FairValueInputsLevel2Member"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis" xlink:label="loc_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan By Plan Asset Categories [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis" xlink:to="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan by Plan Asset Categories [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PlanAssetCategoriesDomain" xlink:label="loc_us-gaap_PlanAssetCategoriesDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PlanAssetCategoriesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Plan Asset Categories [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PlanAssetCategoriesDomain" xlink:to="lab_us-gaap_PlanAssetCategoriesDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PlanAssetCategoriesDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Plan Asset Categories [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FixedIncomeSecuritiesMember" xlink:label="loc_us-gaap_FixedIncomeSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FixedIncomeSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fixed Income Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixedIncomeSecuritiesMember" xlink:to="lab_us-gaap_FixedIncomeSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PrivateSecuritiesMember" xlink:label="loc_itub_PrivateSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PrivateSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Private Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PrivateSecuritiesMember" xlink:to="lab_itub_PrivateSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RealEstateReceivableCertificateMember" xlink:label="loc_itub_RealEstateReceivableCertificateMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_RealEstateReceivableCertificateMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Real Estate Receivable Certificate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RealEstateReceivableCertificateMember" xlink:to="lab_itub_RealEstateReceivableCertificateMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherSecuritiesMember" xlink:label="loc_itub_OtherSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherSecuritiesMember" xlink:to="lab_itub_OtherSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherInvestmentsMember" xlink:label="loc_us-gaap_OtherInvestmentsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherInvestmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Investments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherInvestmentsMember" xlink:to="lab_us-gaap_OtherInvestmentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MezaninoFundMember" xlink:label="loc_itub_MezaninoFundMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_MezaninoFundMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Mezanino Fund [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MezaninoFundMember" xlink:to="lab_itub_MezaninoFundMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_VariableIncomeSecuritiesMember" xlink:label="loc_itub_VariableIncomeSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_VariableIncomeSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable Income Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_VariableIncomeSecuritiesMember" xlink:to="lab_itub_VariableIncomeSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_VariableIncomeSecuritiesSharesMember" xlink:label="loc_itub_VariableIncomeSecuritiesSharesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_VariableIncomeSecuritiesSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable Income Securities Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_VariableIncomeSecuritiesSharesMember" xlink:to="lab_itub_VariableIncomeSecuritiesSharesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_VariableIncomeSecuritiesGroupSharesMember" xlink:label="loc_itub_VariableIncomeSecuritiesGroupSharesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_VariableIncomeSecuritiesGroupSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Variable Income Securities Group Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_VariableIncomeSecuritiesGroupSharesMember" xlink:to="lab_itub_VariableIncomeSecuritiesGroupSharesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RealEstateMember" xlink:label="loc_us-gaap_RealEstateMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RealEstateMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Real Estate [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateMember" xlink:to="lab_us-gaap_RealEstateMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:label="loc_us-gaap_DefinedBenefitPlanDisclosureLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan Disclosure [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:to="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan Disclosure [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Fair Value of Plan Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Plan assets</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanActualReturnOnPlanAssets"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:label="loc_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements" xlink:to="lab_us-gaap_DefinedBenefitPlanPurchasesSalesAndSettlements"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels" xlink:label="loc_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels" xlink:to="lab_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanTransfersBetweenMeasurementLevels" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Transfer to level 3</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis" xlink:label="loc_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis" xlink:to="lab_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlansDomain" xlink:label="loc_us-gaap_DefinedBenefitPlansDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlansDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlansDomain" xlink:to="lab_us-gaap_DefinedBenefitPlansDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlansDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plans and Other Postretirement Benefit Plans [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" xlink:label="loc_us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Supplemental Employee Retirement Plans, Defined Benefit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember" xlink:to="lab_us-gaap_SupplementalEmployeeRetirementPlanDefinedBenefitMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Benefit Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Balance</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Balance</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanCurtailments" xlink:label="loc_us-gaap_DefinedBenefitPlanCurtailments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanCurtailments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Curtailments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanCurtailments" xlink:to="lab_us-gaap_DefinedBenefitPlanCurtailments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanCurtailments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect of curtailment recognized in income</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Settlements, Benefit Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recalculation of benefit obligations to settlement amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanPlanAmendments" xlink:label="loc_us-gaap_DefinedBenefitPlanPlanAmendments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAmendments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Plan Amendments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlanAmendments" xlink:to="lab_us-gaap_DefinedBenefitPlanPlanAmendments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPlanAmendments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Partial settlement &#8211; Amounts credited to individual accounts of Itaubanco CD Defined Contribution Plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanServiceCost" xlink:label="loc_us-gaap_DefinedBenefitPlanServiceCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Service Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanServiceCost" xlink:to="lab_us-gaap_DefinedBenefitPlanServiceCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanServiceCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Service cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanInterestCost" xlink:label="loc_us-gaap_DefinedBenefitPlanInterestCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Interest Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanInterestCost" xlink:to="lab_us-gaap_DefinedBenefitPlanInterestCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanInterestCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest cost</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:label="loc_us-gaap_DefinedBenefitPlanBenefitsPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Benefits Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:to="lab_us-gaap_DefinedBenefitPlanBenefitsPaid"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanBenefitsPaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Benefits paid</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:label="loc_us-gaap_DefinedBenefitPlanActuarialNetGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Actuarial Net (Gains) Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:to="lab_us-gaap_DefinedBenefitPlanActuarialNetGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanActuarialNetGainsLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Actuarial loss (gain)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanSettlementsPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Settlements, Plan Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanSettlementsPlanAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Partial settlement and transfer of assets to Itaubanco CD Defined Contribution Plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:label="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Funded Status of Plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:to="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanFundedStatusOfPlan" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Funded status</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UbbPrevAndBanortePlansMember" xlink:label="loc_itub_UbbPrevAndBanortePlansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UbbPrevAndBanortePlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ubb Prev and Banorte Plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UbbPrevAndBanortePlansMember" xlink:to="lab_itub_UbbPrevAndBanortePlansMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BasicRedecardPlanMember" xlink:label="loc_itub_BasicRedecardPlanMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BasicRedecardPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Basic Redecard Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BasicRedecardPlanMember" xlink:to="lab_itub_BasicRedecardPlanMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EmployeesMember" xlink:label="loc_itub_EmployeesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_EmployeesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employees [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EmployeesMember" xlink:to="lab_itub_EmployeesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Share-Based Compensation Arrangement By Share-Based Payment Award, Award Type and Plan Name [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Award Type and Plan Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangements By Share-Based Payment Award, Award Type and Plan Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Award Type and Plan Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProjectedBenefitObligationMember" xlink:label="loc_itub_ProjectedBenefitObligationMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProjectedBenefitObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Projected Benefit Obligation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProjectedBenefitObligationMember" xlink:to="lab_itub_ProjectedBenefitObligationMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanContributionsByPlanParticipants" xlink:label="loc_us-gaap_DefinedBenefitPlanContributionsByPlanParticipants"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByPlanParticipants" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Contributions by Plan Participants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanContributionsByPlanParticipants" xlink:to="lab_us-gaap_DefinedBenefitPlanContributionsByPlanParticipants"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByPlanParticipants" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined benefit plan</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:label="loc_us-gaap_DefinedBenefitPlanContributionsByEmployer"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Contributions by Employer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:to="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanContributionsByEmployer" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contributions received Employer</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedBenefitPlanBenefitsMarketValuePaid" xlink:label="loc_itub_DefinedBenefitPlanBenefitsMarketValuePaid"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanBenefitsMarketValuePaid" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan Benefits Market Value Paid</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedBenefitPlanBenefitsMarketValuePaid" xlink:to="lab_itub_DefinedBenefitPlanBenefitsMarketValuePaid"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanBenefitsMarketValuePaid" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan, Benefits Paid</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanBenefitsMarketValuePaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Amounts Recognized in Balance Sheet</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountsRecognizedInBalanceSheet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Prepaid pension benefits (accrued pension benefits), net</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent" xlink:label="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Assets for Plan Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent" xlink:to="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssetsForPlanBenefitsCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension plan prepaid assets (Note 14)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension and Other Postretirement Defined Benefit Plans, Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:to="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Accrued retirement plan benefits (Note 18)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Return on Plan Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedReturnOnPlanAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Expected return on plan assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:label="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Amortization of Gains (Losses)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:to="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmortizationOfGainsLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization of actuarial loss (gain)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments" xlink:label="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Recognized Net Gain (Loss) Due to Curtailments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments" xlink:to="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToCurtailments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gains on curtailment of PAC</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:label="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Recognized Net (Gain) Loss Due to Settlements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:to="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanRecognizedNetGainLossDueToSettlements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss on partial settlement of PAC &#8211; recognition in income on a pro rata basis of the amount recorded in other comprehensive income</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedBenefitPlanEmployeeContributions" xlink:label="loc_itub_DefinedBenefitPlanEmployeeContributions"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanEmployeeContributions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan Employee Contributions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedBenefitPlanEmployeeContributions" xlink:to="lab_itub_DefinedBenefitPlanEmployeeContributions"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanEmployeeContributions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Employee contributions</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanEmployeeContributions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of contributions made by employees.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:label="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Net Periodic Benefit Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:to="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanNetPeriodicBenefitCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net pension cost (benefit)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearOne" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2011</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearTwo" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Three</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearThree" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Four</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFour" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Year Five</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInYearFive" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:label="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Expected Future Benefit Payments in Five Fiscal Years Thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:to="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanExpectedFutureBenefitPaymentsInFiveFiscalYearsThereafter" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2016 to 2020</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:label="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:to="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Discount rate for determining projected benefit obligations</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease" xlink:label="loc_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan Assumption Used Calculating Net Periodic Benefit Cost Rate Of Compensation Increase</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease" xlink:to="lab_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Rate of increase in compensation levels (depending on the specific group of employees)</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedBenefitPlanAssumptionUsedCalculatingNetPeriodicBenefitCostRateOfCompensationIncrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Expected rate of compensation increases (for pay-related plans).</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Return on Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Expected long-term rate of return on plan assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract" xlink:label="loc_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract" xlink:to="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">PENSION PLANS AND OTHER POST RETIREMENT BENEFITS (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_PensionPlansAndOtherPostRetirementBenefitsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Pension Plans and Other Post Retirement Benefits (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedContributionPlanCostRecognized" xlink:label="loc_us-gaap_DefinedContributionPlanCostRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan, Cost Recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedContributionPlanCostRecognized" xlink:to="lab_us-gaap_DefinedContributionPlanCostRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedContributionPlanCostRecognized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Contribution Plan, Cost Recognized</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired" xlink:label="loc_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan For Employees Of Subsidiaries Acquired</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired" xlink:to="lab_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Contribution Plan for Employees of Subsidiaries Acquired</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanForEmployeesOfSubsidiariesAcquired" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of the defined contribution plans for employees of subsidiaries acquired during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanPartcipantsRangeMinimum" xlink:label="loc_itub_DefinedContributionPlanPartcipantsRangeMinimum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan Partcipants Range Minimum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanPartcipantsRangeMinimum" xlink:to="lab_itub_DefinedContributionPlanPartcipantsRangeMinimum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMinimum" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Contribution Plan Range Related to Participants Payroll, Minimum</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Minimum percentage in defined contribution plans related to participants.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanPartcipantsRangeMaximum" xlink:label="loc_itub_DefinedContributionPlanPartcipantsRangeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan Partcipants Range Maximum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanPartcipantsRangeMaximum" xlink:to="lab_itub_DefinedContributionPlanPartcipantsRangeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum percentage in defined contribution plans related to participants.</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Contribution Plan Partcipants Range Maximum</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum" xlink:label="loc_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Contribution Plan Partcipants Employees Range Maximum</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum" xlink:to="lab_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum"/>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Maximum percentage in defined contribution plans related to employees participants.</label>
    <label xlink:type="resource" xlink:label="lab_itub_DefinedContributionPlanPartcipantsEmployeesRangeMaximum" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Contribution Plan Partcipants Employees Range Maximum</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPlansWithBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Fair Value of Plan Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit Obligation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:label="loc_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Accumulated Benefit Obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:to="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAccumulatedBenefitObligation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Defined Benefit Plan, Accumulated Benefit Obligation</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContributionToDefinedRetirementPlan" xlink:label="loc_itub_ContributionToDefinedRetirementPlan"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionToDefinedRetirementPlan" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contribution To Defined Retirement Plan</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContributionToDefinedRetirementPlan" xlink:to="lab_itub_ContributionToDefinedRetirementPlan"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionToDefinedRetirementPlan" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount expected to be contributed to the defined retirement plans.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContributionToDefinedRetirementPlan" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contribution To Defined Retirement Plan</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ExpectedLevelOfInflationRate" xlink:label="loc_itub_ExpectedLevelOfInflationRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExpectedLevelOfInflationRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Expected Level Of Inflation Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ExpectedLevelOfInflationRate" xlink:to="lab_itub_ExpectedLevelOfInflationRate"/>
    <label xlink:type="resource" xlink:label="lab_itub_ExpectedLevelOfInflationRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of expected level of inflation rate.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ExpectedLevelOfInflationRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Expected Level Of Inflation Rate</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets" xlink:label="loc_us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Defined Benefit Plan, Amount of Employer and Related Party Securities Included in Plan Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets" xlink:to="lab_us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DefinedBenefitPlanAmountOfEmployerAndRelatedPartySecuritiesIncludedInPlanAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Employer and related party securities included in plan assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShareBasedCompensationDetailsAbstract" xlink:label="loc_itub_ShareBasedCompensationDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShareBasedCompensationDetailsAbstract" xlink:to="lab_itub_ShareBasedCompensationDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SHARE BASED COMPENSATION (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share Based Compensation (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Share-Based Compensation Arrangements By Share-Based Payment Award [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SimpleStockOptionsMember" xlink:label="loc_itub_SimpleStockOptionsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_SimpleStockOptionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Simple Stock Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SimpleStockOptionsMember" xlink:to="lab_itub_SimpleStockOptionsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments outstanding at the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Share based payments outstanding at the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Share based payments outstanding at end of the year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Net Of Forfeitures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Forfeitures In Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments forfeited</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:label="loc_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range, Number Of Exercisable Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:to="lab_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments exercisable as of the year-end</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share based payments outstanding at end of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Weighted average exercise price of share based payments outstanding at the beginning of the year</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Weighted average exercise price of share based payments outstanding at end of the year</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average exercise price of share based payments granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average exercise price of share based payments exercised</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Forfeitures In Period, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average exercise price of share based payments forfeited</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average exercise price of share based payments exercisable as of the year-end</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShareBasedCompensationDetails1Abstract" xlink:label="loc_itub_ShareBasedCompensationDetails1Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation (Details 1) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShareBasedCompensationDetails1Abstract" xlink:to="lab_itub_ShareBasedCompensationDetails1Abstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SHARE BASED COMPENSATION (Details 1).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationDetails1Abstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share Based Compensation (Details 1) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartnersPlanAndShareBasedInstrumentsMember" xlink:label="loc_itub_PartnersPlanAndShareBasedInstrumentsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnersPlanAndShareBasedInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partners Plan and Share Based Instruments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PartnersPlanAndShareBasedInstrumentsMember" xlink:to="lab_itub_PartnersPlanAndShareBasedInstrumentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ShareBasedCompensationTexualsAbstract" xlink:label="loc_itub_ShareBasedCompensationTexualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTexualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Compensation (Texuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShareBasedCompensationTexualsAbstract" xlink:to="lab_itub_ShareBasedCompensationTexualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTexualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SHARE BASED COMPENSATION (Details Texuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedCompensationTexualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share Based Compensation (Texuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartnersPlanMember" xlink:label="loc_itub_PartnersPlanMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnersPlanMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partners Plan [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ShareBasedInstrumentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share Based Instruments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ShareBasedInstrumentsMember" xlink:to="lab_itub_ShareBasedInstrumentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PriorPlansMember" xlink:label="loc_itub_PriorPlansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PriorPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Prior Plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PriorPlansMember" xlink:to="lab_itub_PriorPlansMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PostAcquisitionPlansMember" xlink:label="loc_itub_PostAcquisitionPlansMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PostAcquisitionPlansMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Post Acquisition Plans [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PostAcquisitionPlansMember" xlink:to="lab_itub_PostAcquisitionPlansMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Percentage of dividend rate estimated</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BasisOfCalculationOfStockExercisePrice" xlink:label="loc_itub_BasisOfCalculationOfStockExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_itub_BasisOfCalculationOfStockExercisePrice" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Basis Of Calculation Of Stock Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BasisOfCalculationOfStockExercisePrice" xlink:to="lab_itub_BasisOfCalculationOfStockExercisePrice"/>
    <label xlink:type="resource" xlink:label="lab_itub_BasisOfCalculationOfStockExercisePrice" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Basis of Calculation of Stock Exercise Price</label>
    <label xlink:type="resource" xlink:label="lab_itub_BasisOfCalculationOfStockExercisePrice" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Basis of calculation of stock exercise price.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionPlanExpense" xlink:label="loc_us-gaap_StockOptionPlanExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockOptionPlanExpense" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Or Unit Option Plan Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockOptionPlanExpense" xlink:to="lab_us-gaap_StockOptionPlanExpense"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockOptionPlanExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Stock or Unit Option Plan Expense</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompensationCostToBeAllocatedInFuturePeriods" xlink:label="loc_itub_CompensationCostToBeAllocatedInFuturePeriods"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompensationCostToBeAllocatedInFuturePeriods" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Compensation Cost To Be Allocated In Future Periods</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompensationCostToBeAllocatedInFuturePeriods" xlink:to="lab_itub_CompensationCostToBeAllocatedInFuturePeriods"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompensationCostToBeAllocatedInFuturePeriods" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Compensation Cost to be Allocated in Future Periods</label>
    <label xlink:type="resource" xlink:label="lab_itub_CompensationCostToBeAllocatedInFuturePeriods" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Compensation cost to be allocated in future periods.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_WeightedAverageAllocationPeriodOfCompensationCost" xlink:label="loc_itub_WeightedAverageAllocationPeriodOfCompensationCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageAllocationPeriodOfCompensationCost" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Weighted Average Allocation Period Of Compensation Cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_WeightedAverageAllocationPeriodOfCompensationCost" xlink:to="lab_itub_WeightedAverageAllocationPeriodOfCompensationCost"/>
    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageAllocationPeriodOfCompensationCost" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted Average Allocation Period of Compensation Cost</label>
    <label xlink:type="resource" xlink:label="lab_itub_WeightedAverageAllocationPeriodOfCompensationCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Weighted average allocation period of compensation cost.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period, Total Intrinsic Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Vested and Expected To Vest, Exercisable, Aggregate Intrinsic Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Weighted Average Grant Date Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average grant date fair value for shares granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Weighted average grant date fair value for shares granted</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueOfFinancialInstrumentsDetailsAbstract" xlink:label="loc_itub_FairValueOfFinancialInstrumentsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Of Financial Instruments (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueOfFinancialInstrumentsDetailsAbstract" xlink:to="lab_itub_FairValueOfFinancialInstrumentsDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FAIR VALUE OF FINANCIAL INSTRUMENTS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueOfFinancialInstrumentsDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value Of Financial Instruments (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, By Balance Sheet Grouping [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, By Balance Sheet Grouping, Disclosure Item Amounts [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingDisclosureItemAmountsAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, by Balance Sheet Grouping, Disclosure Item Amounts [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="loc_us-gaap_FairValueDisclosureItemAmountsDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Disclosure Item Amounts [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:to="lab_us-gaap_FairValueDisclosureItemAmountsDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Disclosure Item Amounts [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Carrying (Reported) Amount, Fair Value Disclosure [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:to="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Estimate of Fair Value, Fair Value Disclosure [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:to="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StandbyLettersOfCreditMember" xlink:label="loc_us-gaap_StandbyLettersOfCreditMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StandbyLettersOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Standby Letters of Credit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StandbyLettersOfCreditMember" xlink:to="lab_us-gaap_StandbyLettersOfCreditMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsFairValueDisclosure" xlink:label="loc_us-gaap_AssetsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Assets, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosure" xlink:to="lab_us-gaap_AssetsFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AssetsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Assets for which fair value approximates carrying value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableForSaleSecuritiesFairValueDisclosure" xlink:label="loc_us-gaap_AvailableForSaleSecuritiesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableForSaleSecuritiesFairValueDisclosure" xlink:to="lab_us-gaap_AvailableForSaleSecuritiesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableForSaleSecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Available-for-sale securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_HeldToMaturitySecuritiesFairValueDisclosure" xlink:label="loc_us-gaap_HeldToMaturitySecuritiesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Held-to-maturity Securities, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HeldToMaturitySecuritiesFairValueDisclosure" xlink:to="lab_us-gaap_HeldToMaturitySecuritiesFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_HeldToMaturitySecuritiesFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LongTermDebtFairValue" xlink:label="loc_us-gaap_LongTermDebtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Long-term Debt, Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue" xlink:to="lab_us-gaap_LongTermDebtFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Long-term debt</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StandByLettersOfCreditCarryingValue" xlink:label="loc_itub_StandByLettersOfCreditCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stand By Letters Of Credit Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StandByLettersOfCreditCarryingValue" xlink:to="lab_itub_StandByLettersOfCreditCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Standby letters of credit</label>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The carrying value of standby letters of credit which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StandByLettersOfCreditFairValue" xlink:label="loc_itub_StandByLettersOfCreditFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stand By Letters Of Credit Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StandByLettersOfCreditFairValue" xlink:to="lab_itub_StandByLettersOfCreditFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Standby letters of credit</label>
    <label xlink:type="resource" xlink:label="lab_itub_StandByLettersOfCreditFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fair value of standby letters of credit which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GuranteesCarryingValue" xlink:label="loc_itub_GuranteesCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gurantees Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GuranteesCarryingValue" xlink:to="lab_itub_GuranteesCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Guarantees</label>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesCarryingValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The carrying value of gurantees which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GuranteesFairValue" xlink:label="loc_itub_GuranteesFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gurantees Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GuranteesFairValue" xlink:to="lab_itub_GuranteesFairValue"/>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Guarantees</label>
    <label xlink:type="resource" xlink:label="lab_itub_GuranteesFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The fair value of gurantees which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract" xlink:label="loc_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurements and Additional Disclosures On Fair Value Hierarchy (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract" xlink:to="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">FAIR VALUE MEASUREMENTS AND ADDITIONAL DISCLOSURES ON FAIR VALUE HIERARCHY (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementsAndAdditionalDisclosuresOnFairValueHierarchyDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value Measurements and Additional Disclosures On Fair Value Hierarchy (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DomesticGovernmentSecuritiesMember" xlink:label="loc_itub_DomesticGovernmentSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DomesticGovernmentSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Domestic Government Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DomesticGovernmentSecuritiesMember" xlink:to="lab_itub_DomesticGovernmentSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DomesticGovernmentExternalDebtSecuritiesMember" xlink:label="loc_itub_DomesticGovernmentExternalDebtSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DomesticGovernmentExternalDebtSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Domestic Government External Debt Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DomesticGovernmentExternalDebtSecuritiesMember" xlink:to="lab_itub_DomesticGovernmentExternalDebtSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradingSecuritiesLineItems" xlink:label="loc_itub_TradingSecuritiesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradingSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading Securities [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradingSecuritiesLineItems" xlink:to="lab_itub_TradingSecuritiesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradingSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_TradingSecuritiesLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trading Securities [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueByAssetClassAxis" xlink:label="loc_us-gaap_FairValueByAssetClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value By Asset Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByAssetClassAxis" xlink:to="lab_us-gaap_FairValueByAssetClassAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueByAssetClassAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value by Asset Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Assets Measured On Recurring Basis, Unobservable Input Reconciliation, By Asset Class [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationByAssetClassDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, by Asset Class [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TradingAccountAssetsMember" xlink:label="loc_us-gaap_TradingAccountAssetsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TradingAccountAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trading Account Assets [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TradingAccountAssetsMember" xlink:to="lab_us-gaap_TradingAccountAssetsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeFinancialInstrumentsAssetsAndLiabilitiesMember" xlink:label="loc_itub_DerivativeFinancialInstrumentsAssetsAndLiabilitiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAssetsAndLiabilitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Financial Instruments Assets and Liabilities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeFinancialInstrumentsAssetsAndLiabilitiesMember" xlink:to="lab_itub_DerivativeFinancialInstrumentsAssetsAndLiabilitiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AvailableforsaleSecuritiesMember" xlink:label="loc_us-gaap_AvailableforsaleSecuritiesMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AvailableforsaleSecuritiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Available-for-sale Securities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AvailableforsaleSecuritiesMember" xlink:to="lab_us-gaap_AvailableforsaleSecuritiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:label="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:to="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementWithObtainedInAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurement With Obtained In Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueMeasurementWithObtainedInAcquisition" xlink:to="lab_itub_FairValueMeasurementWithObtainedInAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementWithObtainedInAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Obtained in the acquisition of Unibanco</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Fair value</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total gains or losses (realized/unrealized)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, Sales, Issuances, Settlements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Purchases, issuances and settlements</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:label="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:to="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Transfers in and/or out of Level 3</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate" xlink:label="loc_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fair Value Measurement Gains Losses To Assets and Liabilities Still Held At The Reoporting Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate" xlink:to="lab_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate"/>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total gains (losses) related to assets and liabilities still held at the reporting date</label>
    <label xlink:type="resource" xlink:label="lab_itub_FairValueMeasurementGainsLossesToAssetsAndLiabilitiesStillHeldAtTheReoportingDate" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">This item represents the amount of the total gains (losses) related to assets and liabilities still held at the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract" xlink:label="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Financial Instruments and Financial Instruments Related To Credit (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract" xlink:to="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">DERIVATIVE FINANCIAL INSTRUMENTS AND FINANCIAL INSTRUMENTS RELATED TO CREDIT (Details).</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_InterestRateContractMember" xlink:label="loc_us-gaap_InterestRateContractMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_InterestRateContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Rate Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateContractMember" xlink:to="lab_us-gaap_InterestRateContractMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ForeignExchangeContractMember" xlink:label="loc_us-gaap_ForeignExchangeContractMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Exchange Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignExchangeContractMember" xlink:to="lab_us-gaap_ForeignExchangeContractMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommodityContractMember" xlink:label="loc_us-gaap_CommodityContractMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CommodityContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commodity Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommodityContractMember" xlink:to="lab_us-gaap_CommodityContractMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherContractMember" xlink:label="loc_us-gaap_OtherContractMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherContractMember" xlink:to="lab_us-gaap_OtherContractMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EquityContractMember" xlink:label="loc_us-gaap_EquityContractMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EquityContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity Contract [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityContractMember" xlink:to="lab_us-gaap_EquityContractMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FuturePurchaseCommitmentsMember" xlink:label="loc_itub_FuturePurchaseCommitmentsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FuturePurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FuturePurchaseCommitmentsMember" xlink:to="lab_itub_FuturePurchaseCommitmentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FutureSalesCommitmentsMember" xlink:label="loc_itub_FutureSalesCommitmentsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FutureSalesCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Future Sales Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FutureSalesCommitmentsMember" xlink:to="lab_itub_FutureSalesCommitmentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AssetPositionMember" xlink:label="loc_itub_AssetPositionMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AssetPositionMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Asset Position [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AssetPositionMember" xlink:to="lab_itub_AssetPositionMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_LiabilityPositionMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Liability Position [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LiabilityPositionMember" xlink:to="lab_itub_LiabilityPositionMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockOptionsMember" xlink:label="loc_us-gaap_StockOptionsMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_StockOptionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Stock Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockOptionsMember" xlink:to="lab_us-gaap_StockOptionsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_OptionsPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Options Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OptionsPurchaseCommitmentsMember" xlink:to="lab_itub_OptionsPurchaseCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_OptionsSalesCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Options Sales Commitment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OptionsSalesCommitmentMember" xlink:to="lab_itub_OptionsSalesCommitmentMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ForwardContractPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Forward Contract Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForwardContractPurchaseCommitmentsMember" xlink:to="lab_itub_ForwardContractPurchaseCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ForwardContractSalesCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Forward Contract Sales Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForwardContractSalesCommitmentsMember" xlink:to="lab_itub_ForwardContractSalesCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativesPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivatives Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditDerivativesPurchaseCommitmentsMember" xlink:to="lab_itub_CreditDerivativesPurchaseCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_OtherInterestRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Interest Rate [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_OtherContractPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Contract Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherContractPurchaseCommitmentsMember" xlink:to="lab_itub_OtherContractPurchaseCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_OtherContractSalesCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Contract Sales Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherContractSalesCommitmentsMember" xlink:to="lab_itub_OtherContractSalesCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_ForeignExchangeContractPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Exchange Contract Purchase Commitments [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_ForeignExchangeContractSalesCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Exchange Contract Sales Commitments [Member]</label>
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    <label xlink:type="resource" xlink:label="lab_itub_OtherCommoditiesPurchaseCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commodities Purchase Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherCommoditiesPurchaseCommitmentsMember" xlink:to="lab_itub_OtherCommoditiesPurchaseCommitmentsMember"/>
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    <label xlink:type="resource" xlink:label="lab_itub_OtherCommoditiesSalesCommitmentsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commodities Sales Commitments [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherCommoditiesSalesCommitmentsMember" xlink:to="lab_itub_OtherCommoditiesSalesCommitmentsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherCommoditiesMember" xlink:label="loc_itub_OtherCommoditiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherCommoditiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Commodities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherCommoditiesMember" xlink:to="lab_itub_OtherCommoditiesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotionalAmountOfDerivatives" xlink:label="loc_us-gaap_NotionalAmountOfDerivatives"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NotionalAmountOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notional Amount of Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotionalAmountOfDerivatives" xlink:to="lab_us-gaap_NotionalAmountOfDerivatives"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NotionalAmountOfDerivatives" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Notional amounts</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeAssetsLiabilities" xlink:label="loc_itub_DerivativeAssetsLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Assets Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeAssetsLiabilities" xlink:to="lab_itub_DerivativeAssetsLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative assets and liabilities carrying value</label>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeAssetsLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying value as of the balance sheet date of the net amount of all assets and liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeAssets" xlink:label="loc_us-gaap_DerivativeAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed" xlink:label="loc_us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Description of Types of Interest Rate Cash Flow Hedging Instruments Used</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed" xlink:to="lab_us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DescriptionOfTypesOfInterestRateCashFlowHedgingInstrumentsUsed" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivatives in relationships of cash flow hedges</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInOtherComprehensiveIncomeEffectivePortionNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amount of gain or (loss) recognized in AOCI in derivatives (effective portion)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI" xlink:label="loc_us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments, Income Statement Location of Gain (Loss) Reclassified from Accumulated OCI</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI" xlink:to="lab_us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Place where gain or (loss) reclassified from AOCI to income are recognized (effective portion)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossReclassifiedFromAccumulatedOCIIntoIncomeEffectivePortionNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amount of gain or (loss) reclassified from AOCI to income (effective portion)</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome" xlink:label="loc_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments Income Statement Location Of Gain Or Loss Recognized Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome" xlink:to="lab_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Place where gain or (loss) are recognized in income (ineffective portion)</label>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeInstrumentsIncomeStatementLocationOfGainOrLossRecognizedIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The income statement location of the ineffective portion of net gain (loss) recognized in income on derivative instruments designated and qualifying as hedging instruments.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossRecognizedInIncomeIneffectivePortionAndAmountExcludedFromEffectivenessTestingNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amount of gain or (loss) recognized in result of derivatives (ineffective portion)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CreditDefaultSwapMember" xlink:label="loc_us-gaap_CreditDefaultSwapMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDefaultSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Default Swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDefaultSwapMember" xlink:to="lab_us-gaap_CreditDefaultSwapMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TotalReturnSwapMember" xlink:label="loc_us-gaap_TotalReturnSwapMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TotalReturnSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total Return Swap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TotalReturnSwapMember" xlink:to="lab_us-gaap_TotalReturnSwapMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExternalCreditRatingInvestmentGradeMember" xlink:label="loc_us-gaap_ExternalCreditRatingInvestmentGradeMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ExternalCreditRatingInvestmentGradeMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">External Credit Rating, Investment Grade [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExternalCreditRatingInvestmentGradeMember" xlink:to="lab_us-gaap_ExternalCreditRatingInvestmentGradeMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TotalByRiskMember" xlink:label="loc_itub_TotalByRiskMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TotalByRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total By Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TotalByRiskMember" xlink:to="lab_itub_TotalByRiskMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PrivateEntitiesMember" xlink:label="loc_itub_PrivateEntitiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PrivateEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Private Entities [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PrivateEntitiesMember" xlink:to="lab_itub_PrivateEntitiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TotalByEntityMember" xlink:label="loc_itub_TotalByEntityMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TotalByEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Total By Entity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TotalByEntityMember" xlink:to="lab_itub_TotalByEntityMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CreditDerivativeMaximumExposureUndiscounted" xlink:label="loc_us-gaap_CreditDerivativeMaximumExposureUndiscounted"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeMaximumExposureUndiscounted" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative, Maximum Exposure, Undiscounted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDerivativeMaximumExposureUndiscounted" xlink:to="lab_us-gaap_CreditDerivativeMaximumExposureUndiscounted"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeMaximumExposureUndiscounted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum potential of future payments, gross</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear" xlink:label="loc_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative Maximum Exposure Undiscounted Before One Year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear" xlink:to="lab_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Before 1 year</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedBeforeOneYear" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Represents the maximum potential amount of future payments (undiscounted) before one year the seller could be required to make under the credit derivative or each group of similar credit derivatives before reduction for potential recoveries under recourse or collateralization provisions in the credit derivative.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears" xlink:label="loc_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative Maximum Exposure Undiscounted From One To Three Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears" xlink:to="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 1 to 3 years</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromOneToThreeYears" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Represents the maximum potential amount of future payments (undiscounted) from one to three years the seller could be required to make under the credit derivative or each group of similar credit derivatives before reduction for potential recoveries under recourse or collateralization provisions in the credit derivative.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears" xlink:label="loc_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative Maximum Exposure Undiscounted From Three To Five Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears" xlink:to="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">From 3 to 5 years</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedFromThreeToFiveYears" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Represents the maximum potential amount of future payments (undiscounted) from three to five years the seller could be required to make under the credit derivative or each group of similar credit derivatives before reduction for potential recoveries under recourse or collateralization provisions in the credit derivative.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears" xlink:label="loc_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative Maximum Exposure Undiscounted Over Five Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears" xlink:to="lab_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Over 5 years</label>
    <label xlink:type="resource" xlink:label="lab_itub_CreditDerivativeMaximumExposureUndiscountedOverFiveYears" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Represents the maximum potential amount of future payments (undiscounted) over five years the seller could be required to make under the credit derivative or each group of similar credit derivatives before reduction for potential recoveries under recourse or collateralization provisions in the credit derivative.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CreditDerivativeCurrentFairValue" xlink:label="loc_us-gaap_CreditDerivativeCurrentFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeCurrentFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Credit Derivative, Current Fair Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditDerivativeCurrentFairValue" xlink:to="lab_us-gaap_CreditDerivativeCurrentFairValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeCurrentFairValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeCurrentFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Fair value</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CreditDerivativeCurrentFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Fair value</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NotionalAmountOfHedgeSold" xlink:label="loc_itub_NotionalAmountOfHedgeSold"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgeSold" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notional Amount Of Hedge Sold</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NotionalAmountOfHedgeSold" xlink:to="lab_itub_NotionalAmountOfHedgeSold"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgeSold" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Notional amount of hedge sold</label>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgeSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The notional amount of hedge sold.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying" xlink:label="loc_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notional Amount Of Hedge Purchased With Identical Underlying</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying" xlink:to="lab_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Notional amount of hedge purchased with identical underlying amount</label>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountOfHedgePurchasedWithIdenticalUnderlying" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The notional amount of credit derivatives hedge purchased with identical underlying amount.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NotionalAmountNet" xlink:label="loc_itub_NotionalAmountNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notional Amount Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NotionalAmountNet" xlink:to="lab_itub_NotionalAmountNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net position</label>
    <label xlink:type="resource" xlink:label="lab_itub_NotionalAmountNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The net notional amount of credit derivatives hedge sold and purchased with identical underlying.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="loc_us-gaap_LossContingenciesTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingencies [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesTable" xlink:to="lab_us-gaap_LossContingenciesTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss Contingencies [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingenciesLineItems" xlink:label="loc_us-gaap_LossContingenciesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingencies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingenciesLineItems" xlink:to="lab_us-gaap_LossContingenciesLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingenciesLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss Contingencies [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsToExtendCredit" xlink:label="loc_itub_CommitmentsToExtendCredit"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsToExtendCredit" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments To Extend Credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsToExtendCredit" xlink:to="lab_itub_CommitmentsToExtendCredit"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsToExtendCredit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments to extend credit</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsToExtendCredit" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Loan commitments are legally binding commitments to extend credit to a counterparty under certain terms and conditions.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:label="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Guarantor Obligations, Current Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:to="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Guarantees</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LinesOfCreditFairValueDisclosure" xlink:label="loc_us-gaap_LinesOfCreditFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LinesOfCreditFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lines of Credit, Fair Value Disclosure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LinesOfCreditFairValueDisclosure" xlink:to="lab_us-gaap_LinesOfCreditFairValueDisclosure"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LinesOfCreditFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Standby letters of credit</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract" xlink:label="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative Financial Instruments and Financial Instruments Related To Credit (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract" xlink:to="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">DERIVATIVE FINANCIAL INSTRUMENTS AND FINANCIAL INSTRUMENTS RELATED TO CREDIT (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_DerivativeFinancialInstrumentsAndFinancialInstrumentsRelatedToCreditTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative Financial Instruments and Financial Instruments Related To Credit (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PurchaseOptionsMember" xlink:label="loc_itub_PurchaseOptionsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PurchaseOptionsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Purchase Options [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PurchaseOptionsMember" xlink:to="lab_itub_PurchaseOptionsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ClientsUnderMonitoringMember" xlink:label="loc_itub_ClientsUnderMonitoringMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ClientsUnderMonitoringMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Clients Under Monitoring [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ClientsUnderMonitoringMember" xlink:to="lab_itub_ClientsUnderMonitoringMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives" xlink:label="loc_us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Maximum Potential Future Exposure on Credit Risk Derivatives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives" xlink:to="lab_us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MaximumPotentialFutureExposureOnCreditRiskDerivatives" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Maximum Potential Future Exposure on Credit Risk Derivatives</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CarryingAmountOfCashFlowHedgeInstruments" xlink:label="loc_itub_CarryingAmountOfCashFlowHedgeInstruments"/>
    <label xlink:type="resource" xlink:label="lab_itub_CarryingAmountOfCashFlowHedgeInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Carrying Amount Of Cash Flow Hedge Instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CarryingAmountOfCashFlowHedgeInstruments" xlink:to="lab_itub_CarryingAmountOfCashFlowHedgeInstruments"/>
    <label xlink:type="resource" xlink:label="lab_itub_CarryingAmountOfCashFlowHedgeInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Aggregate carrying amount of all derivatives designated as cash flow hedging instruments. The notional amount relates to a number of currency units, shares, bushels, pounds, or other units specified in a derivative instrument.</label>
    <label xlink:type="resource" xlink:label="lab_itub_CarryingAmountOfCashFlowHedgeInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Carrying Amount Of Cash Flow Hedge Instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NotionalAmountOfCashFlowHedgeInstruments" xlink:label="loc_us-gaap_NotionalAmountOfCashFlowHedgeInstruments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NotionalAmountOfCashFlowHedgeInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Notional Amount of Cash Flow Hedge Instruments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotionalAmountOfCashFlowHedgeInstruments" xlink:to="lab_us-gaap_NotionalAmountOfCashFlowHedgeInstruments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_NotionalAmountOfCashFlowHedgeInstruments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Notional Amount of Cash Flow Hedge Instruments</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:label="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:to="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingentLiabilitiesDetailsAbstract" xlink:label="loc_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingent Liabilities (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract" xlink:to="lab_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">COMMITMENTS AND CONTINGENT LIABILITIES (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments and Contingent Liabilities (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LawsuitsRelatedToCivilLaborTaxAndSocialSecurityMember" xlink:label="loc_itub_LawsuitsRelatedToCivilLaborTaxAndSocialSecurityMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LawsuitsRelatedToCivilLaborTaxAndSocialSecurityMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lawsuits Related To Civil Labor Tax and Social Security [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LawsuitsRelatedToCivilLaborTaxAndSocialSecurityMember" xlink:to="lab_itub_LawsuitsRelatedToCivilLaborTaxAndSocialSecurityMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyAccrualAtCarryingValue" xlink:label="loc_us-gaap_LossContingencyAccrualAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency Accrual, at Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyAccrualAtCarryingValue" xlink:to="lab_us-gaap_LossContingencyAccrualAtCarryingValue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Opening balance (Note 18)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xml:lang="en-US">Opening balance (Note 18)</label>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xml:lang="en-US">Closing balance (Note 18)</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized" xlink:label="loc_us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination, Assets and Liabilities Arising from Contingencies, Amount Recognized, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized" xlink:to="lab_us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationAssetsAndLiabilitiesArisingFromContingenciesAmountRecognized" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Balance arising from business combinations</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReclassificationOfProvisionForContingentLiabilities" xlink:label="loc_itub_ReclassificationOfProvisionForContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfProvisionForContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reclassification Of Provision For Contingent Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReclassificationOfProvisionForContingentLiabilities" xlink:to="lab_itub_ReclassificationOfProvisionForContingentLiabilities"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfProvisionForContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Reclassification</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReclassificationOfProvisionForContingentLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Reclassification of provision for contingent liabilities.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingenciesGuaranteedByIndemnityClausesDeducted" xlink:label="loc_itub_ContingenciesGuaranteedByIndemnityClausesDeducted"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesDeducted" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingencies Guaranteed By Indemnity Clauses Deducted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingenciesGuaranteedByIndemnityClausesDeducted" xlink:to="lab_itub_ContingenciesGuaranteedByIndemnityClausesDeducted"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesDeducted" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contingencies guaranteed by indemnity clauses (Note 2u)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesDeducted" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Contingencies guaranteed by indemnity clauses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome" xlink:label="loc_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Before Changes In Period Reflected In Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome" xlink:to="lab_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subtotal</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeChangesInPeriodReflectedInIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Commitment and contingencies before changes in the period reflected in income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection" xlink:label="loc_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Changes Attributable To Interest and Monetary Correction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection" xlink:to="lab_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest and monetary correction</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToInterestAndMonetaryCorrection" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Aggregate amount of changes in commitments and contingencies reflected in income attributable to interest and monetary correction.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod" xlink:label="loc_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Changes Attributable To Increase During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod" xlink:to="lab_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Increase</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToIncreaseDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Aggregate amount of changes in commitments and contingencies reflected in income attributable to increase during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod" xlink:label="loc_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Changes Attributable To Reversal During Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod" xlink:to="lab_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Reversal</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesChangesAttributableToReversalDuringPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Aggregate amount of changes in commitments and contingencies reflected in income attributable to reversal during the period.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyAccrualCarryingValuePayments" xlink:label="loc_us-gaap_LossContingencyAccrualCarryingValuePayments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualCarryingValuePayments" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency Accrual, Carrying Value, Payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyAccrualCarryingValuePayments" xlink:to="lab_us-gaap_LossContingencyAccrualCarryingValuePayments"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyAccrualCarryingValuePayments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payments</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition" xlink:label="loc_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingencies Before Contingencies Guaranteed By Indemnity Clauses Addition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition" xlink:to="lab_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subtotal</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingenciesBeforeContingenciesGuaranteedByIndemnityClausesAddition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Commitment and contingencies before contingencies guaranteed by indemnity clauses addition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ContingenciesGuaranteedByIndemnityClausesAdded" xlink:label="loc_itub_ContingenciesGuaranteedByIndemnityClausesAdded"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesAdded" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Contingencies Guaranteed By Indemnity Clauses Added</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ContingenciesGuaranteedByIndemnityClausesAdded" xlink:to="lab_itub_ContingenciesGuaranteedByIndemnityClausesAdded"/>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesAdded" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Contingencies guaranteed by indemnity clauses (Note 2u)</label>
    <label xlink:type="resource" xlink:label="lab_itub_ContingenciesGuaranteedByIndemnityClausesAdded" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Contingencies guaranteed by indemnity clauses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxPayableAndChallengedInCourtMember" xlink:label="loc_itub_TaxPayableAndChallengedInCourtMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxPayableAndChallengedInCourtMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax Payable and Challenged In Court [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxPayableAndChallengedInCourtMember" xlink:to="lab_itub_TaxPayableAndChallengedInCourtMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2011</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Two Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2012</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Three Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInThreeYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2013</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Four Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2014</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due in Five Years</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due Thereafter</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDueThereafter" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Thereafter 2016</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:label="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital Leases, Future Minimum Payments Due</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:to="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalLeasesFutureMinimumPaymentsDue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total minimum payments required</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsAndContingentLiabilitiesTextualsAbstract" xlink:label="loc_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments and Contingent Liabilities (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract" xlink:to="lab_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">COMMITMENTS AND CONTINGENT LIABILITIES (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsAndContingentLiabilitiesTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments and Contingent Liabilities (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GuaranteeOfVoluntaryResourcesMember" xlink:label="loc_itub_GuaranteeOfVoluntaryResourcesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_GuaranteeOfVoluntaryResourcesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Guarantee Of Voluntary Resources [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GuaranteeOfVoluntaryResourcesMember" xlink:to="lab_itub_GuaranteeOfVoluntaryResourcesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CivilLawsuitsMember" xlink:label="loc_itub_CivilLawsuitsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CivilLawsuitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Civil Lawsuits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CivilLawsuitsMember" xlink:to="lab_itub_CivilLawsuitsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxAndSocialSecurityLawsuitsMember" xlink:label="loc_itub_TaxAndSocialSecurityLawsuitsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxAndSocialSecurityLawsuitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax and Social Security Lawsuits [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxAndSocialSecurityLawsuitsMember" xlink:to="lab_itub_TaxAndSocialSecurityLawsuitsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RequestForOffsetDismissedMember" xlink:label="loc_itub_RequestForOffsetDismissedMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_RequestForOffsetDismissedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Request For Offset Dismissed [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RequestForOffsetDismissedMember" xlink:to="lab_itub_RequestForOffsetDismissedMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BankingOperationsMember" xlink:label="loc_itub_BankingOperationsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_BankingOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banking Operations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BankingOperationsMember" xlink:to="lab_itub_BankingOperationsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NoncompensatoryAmountsMember" xlink:label="loc_itub_NoncompensatoryAmountsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_NoncompensatoryAmountsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noncompensatory Amounts [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NoncompensatoryAmountsMember" xlink:to="lab_itub_NoncompensatoryAmountsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UsufructOfQuotasAndSharesMember" xlink:label="loc_itub_UsufructOfQuotasAndSharesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UsufructOfQuotasAndSharesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Usufruct Of Quotas and Shares [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UsufructOfQuotasAndSharesMember" xlink:to="lab_itub_UsufructOfQuotasAndSharesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CalculationBasisMember" xlink:label="loc_itub_CalculationBasisMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CalculationBasisMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Calculation Basis [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CalculationBasisMember" xlink:to="lab_itub_CalculationBasisMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PrinciplesOfAnteriorityMember" xlink:label="loc_itub_PrinciplesOfAnteriorityMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PrinciplesOfAnteriorityMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Principles Of Anteriority [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PrinciplesOfAnteriorityMember" xlink:to="lab_itub_PrinciplesOfAnteriorityMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NonlevyOfTaxesMember" xlink:label="loc_itub_NonlevyOfTaxesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonlevyOfTaxesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nonlevy Of Taxes [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NonlevyOfTaxesMember" xlink:to="lab_itub_NonlevyOfTaxesMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:label="loc_us-gaap_LossContingencyEstimateOfPossibleLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Loss Contingency, Estimate of Possible Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:to="lab_us-gaap_LossContingencyEstimateOfPossibleLoss"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_LossContingencyEstimateOfPossibleLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Loss Contingency, Estimate of Possible Loss</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EffectOfApplyingToRefisInNetIncome" xlink:label="loc_itub_EffectOfApplyingToRefisInNetIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfApplyingToRefisInNetIncome" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effect Of Applying To Refis In Net Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EffectOfApplyingToRefisInNetIncome" xlink:to="lab_itub_EffectOfApplyingToRefisInNetIncome"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfApplyingToRefisInNetIncome" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect of Applying to REFIS In Net Income</label>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfApplyingToRefisInNetIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Effect of applying to REFIS in net income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PaymentsForDebtsIncludedInRefisProgram" xlink:label="loc_itub_PaymentsForDebtsIncludedInRefisProgram"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentsForDebtsIncludedInRefisProgram" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payments For Debts Included In Refis Program</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PaymentsForDebtsIncludedInRefisProgram" xlink:to="lab_itub_PaymentsForDebtsIncludedInRefisProgram"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentsForDebtsIncludedInRefisProgram" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payments for Debts Included in REFIS Program</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentsForDebtsIncludedInRefisProgram" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Payments for debts included in REFIS program.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RegulatoryMattersDetailsAbstract" xlink:label="loc_itub_RegulatoryMattersDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Regulatory Matters (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RegulatoryMattersDetailsAbstract" xlink:to="lab_itub_RegulatoryMattersDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">REGULATORY MATTERS (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Regulatory Matters (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartialConsolidationMember" xlink:label="loc_itub_PartialConsolidationMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartialConsolidationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partial Consolidation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PartialConsolidationMember" xlink:to="lab_itub_PartialConsolidationMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FullConsolidationMember" xlink:label="loc_itub_FullConsolidationMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FullConsolidationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Full Consolidation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FullConsolidationMember" xlink:to="lab_itub_FullConsolidationMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TierOneRiskBasedCapital" xlink:label="loc_us-gaap_TierOneRiskBasedCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TierOneRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tier One Risk Based Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierOneRiskBasedCapital" xlink:to="lab_us-gaap_TierOneRiskBasedCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TierOneRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tier I</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TierTwoRiskBasedCapital" xlink:label="loc_us-gaap_TierTwoRiskBasedCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TierTwoRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tier Two Risk Based Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TierTwoRiskBasedCapital" xlink:to="lab_us-gaap_TierTwoRiskBasedCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TierTwoRiskBasedCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tier II</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherDeductionsAndCharges" xlink:label="loc_us-gaap_OtherDeductionsAndCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherDeductionsAndCharges" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Deductions and Charges</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherDeductionsAndCharges" xlink:to="lab_us-gaap_OtherDeductionsAndCharges"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherDeductionsAndCharges" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other deductions required by the Central Bank of Brazil</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Capital" xlink:label="loc_us-gaap_Capital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Capital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Capital" xlink:to="lab_us-gaap_Capital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_Capital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_MinimumNetCapitalRequired" xlink:label="loc_us-gaap_MinimumNetCapitalRequired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinimumNetCapitalRequired" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Net Capital Required</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinimumNetCapitalRequired" xlink:to="lab_us-gaap_MinimumNetCapitalRequired"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_MinimumNetCapitalRequired" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum regulatory capital required</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CapitalToRiskWeightedAssets" xlink:label="loc_us-gaap_CapitalToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Capital to Risk Weighted Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CapitalToRiskWeightedAssets" xlink:to="lab_us-gaap_CapitalToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CapitalToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capital to risk-weighted assets ratio</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExcessCapital" xlink:label="loc_us-gaap_ExcessCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ExcessCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excess Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExcessCapital" xlink:to="lab_us-gaap_ExcessCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ExcessCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Excess of regulatory capital over minimum regulatory capital required</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TangibleCapitalToTangibleAssets" xlink:label="loc_us-gaap_TangibleCapitalToTangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TangibleCapitalToTangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tangible Capital to Tangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TangibleCapitalToTangibleAssets" xlink:to="lab_us-gaap_TangibleCapitalToTangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TangibleCapitalToTangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fixed assets ratio</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ExcessTangibleCapital" xlink:label="loc_us-gaap_ExcessTangibleCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ExcessTangibleCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Excess Tangible Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExcessTangibleCapital" xlink:to="lab_us-gaap_ExcessTangibleCapital"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ExcessTangibleCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Capital excess in relation to fixed assets ratio</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RegulatoryMattersTextualsAbstract" xlink:label="loc_itub_RegulatoryMattersTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Regulatory Matters (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RegulatoryMattersTextualsAbstract" xlink:to="lab_itub_RegulatoryMattersTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">REGULATORY MATTERS (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_RegulatoryMattersTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Regulatory Matters (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsolidationDomain" xlink:label="loc_itub_ConsolidationDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consolidation [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsolidationDomain" xlink:to="lab_itub_ConsolidationDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">ConsolidationDomain.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Consolidation [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsolidationLineItems" xlink:label="loc_itub_ConsolidationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consolidation [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsolidationLineItems" xlink:to="lab_itub_ConsolidationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Consolidation.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ConsolidationLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Consolidation [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure" xlink:label="loc_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Ratio Of Regulatory Capital and Risk Exposure</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure" xlink:to="lab_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum ratio of regulatory capital and risk exposure</label>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumRatioOfRegulatoryCapitalAndRiskExposure" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The minimum ratio of regulatory capital and risk exposure.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MinimumCapitalRatioToRiskWeightedAssets" xlink:label="loc_itub_MinimumCapitalRatioToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumCapitalRatioToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Minimum Capital Ratio To Risk Weighted Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MinimumCapitalRatioToRiskWeightedAssets" xlink:to="lab_itub_MinimumCapitalRatioToRiskWeightedAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumCapitalRatioToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Minimum capital ratio to risk weighted assets</label>
    <label xlink:type="resource" xlink:label="lab_itub_MinimumCapitalRatioToRiskWeightedAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The minimum ratio of requirement capital to risk weighted assets.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BanksAllocatedRequirementRange" xlink:label="loc_itub_BanksAllocatedRequirementRange"/>
    <label xlink:type="resource" xlink:label="lab_itub_BanksAllocatedRequirementRange" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Banks Allocated Requirement Range</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BanksAllocatedRequirementRange" xlink:to="lab_itub_BanksAllocatedRequirementRange"/>
    <label xlink:type="resource" xlink:label="lab_itub_BanksAllocatedRequirementRange" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Banks allocated requirement range</label>
    <label xlink:type="resource" xlink:label="lab_itub_BanksAllocatedRequirementRange" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Range of requirement that banks allocate a portion of its equity to cover certain operating risks.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital" xlink:label="loc_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percentage Of Fixed Assets Maintained To Adjusted Regulatory Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital" xlink:to="lab_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Percentage of fixed assets maintained to adjusted regulatory capital</label>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfFixedAssetsMaintainedToAdjustedRegulatoryCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The percentage of fixed assets maintained to adjusted regulatory capital.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessSegmentInformationDetailsAbstract" xlink:label="loc_itub_BusinessSegmentInformationDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Segment Information (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessSegmentInformationDetailsAbstract" xlink:to="lab_itub_BusinessSegmentInformationDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">BUSINESS SEGMENT INFORMATION (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Segment Information (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommercialBankMember" xlink:label="loc_itub_CommercialBankMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommercialBankMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commercial Bank [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommercialBankMember" xlink:to="lab_itub_CommercialBankMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauBbaMember" xlink:label="loc_itub_ItauBbaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauBbaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Bba [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauBbaMember" xlink:to="lab_itub_ItauBbaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ConsumerCreditMember" xlink:label="loc_itub_ConsumerCreditMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ConsumerCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Consumer Credit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ConsumerCreditMember" xlink:to="lab_itub_ConsumerCreditMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CorporationAndTreasuryMember" xlink:label="loc_itub_CorporationAndTreasuryMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CorporationAndTreasuryMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Corporation and Treasury [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CorporationAndTreasuryMember" xlink:to="lab_itub_CorporationAndTreasuryMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnallocatedAmountToSegmentMember" xlink:label="loc_us-gaap_UnallocatedAmountToSegmentMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_UnallocatedAmountToSegmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unallocated Amount to Segment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnallocatedAmountToSegmentMember" xlink:to="lab_us-gaap_UnallocatedAmountToSegmentMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReconciliationRelatingToGaapPracticedMember" xlink:label="loc_itub_ReconciliationRelatingToGaapPracticedMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReconciliationRelatingToGaapPracticedMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Reconciliation Relating To Gaap Practiced [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReconciliationRelatingToGaapPracticedMember" xlink:to="lab_itub_ReconciliationRelatingToGaapPracticedMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestIncomeWithClientsMember" xlink:label="loc_itub_InterestIncomeWithClientsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestIncomeWithClientsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Income With Clients [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestIncomeWithClientsMember" xlink:to="lab_itub_InterestIncomeWithClientsMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestIncomeWithCorporationMember" xlink:label="loc_itub_InterestIncomeWithCorporationMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestIncomeWithCorporationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Income With Corporation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestIncomeWithCorporationMember" xlink:to="lab_itub_InterestIncomeWithCorporationMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestIncomeWithMarketMember" xlink:label="loc_itub_InterestIncomeWithMarketMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestIncomeWithMarketMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Income With Market [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestIncomeWithMarketMember" xlink:to="lab_itub_InterestIncomeWithMarketMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Segment Reporting Information [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Segment Reporting Information [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet" xlink:label="loc_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income From Insurance Premiums Income On Private Retirement Plans and On Capitalization Plans Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet" xlink:to="lab_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Income from insurance premiums, income on private retirement plans and on capitalization plans, net</label>
    <label xlink:type="resource" xlink:label="lab_itub_IncomeFromInsurancePremiumsIncomeOnPrivateRetirementPlansAndOnCapitalizationPlansNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Income from insurance premiums, income on private retirement plans and on capitalization plans, net.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue" xlink:label="loc_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue"/>
    <label xlink:type="resource" xlink:label="lab_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Noninterest Expenses Excluding Taxes On Services and Certain Taxes On Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue" xlink:to="lab_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue"/>
    <label xlink:type="resource" xlink:label="lab_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Non-interest expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_NoninterestExpensesExcludingTaxesOnServicesAndCertainTaxesOnRevenue" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Total aggregate amount of all noninterest expense excluding taxes on services and certain taxes on revenue.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries" xlink:label="loc_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equity In Earnings Losses Of Unconsolidated Companies and Net Gain On Transactions Of Foreign Subsidiaries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries" xlink:to="lab_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equity in earnings (losses) of unconsolidated companies, and net gain on transactions of foreign subsidiaries</label>
    <label xlink:type="resource" xlink:label="lab_itub_EquityInEarningsLossesOfUnconsolidatedCompaniesAndNetGainOnTransactionsOfForeignSubsidiaries" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equity in earnings (losses) of unconsolidated companies, and net gain on transactions of foreign subsidiaries.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TaxExpensesForISSPISAndCOFINS" xlink:label="loc_itub_TaxExpensesForISSPISAndCOFINS"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxExpensesForISSPISAndCOFINS" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Tax Expenses For I.S.S P.I.S and C.O.F.I.N.S</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TaxExpensesForISSPISAndCOFINS" xlink:to="lab_itub_TaxExpensesForISSPISAndCOFINS"/>
    <label xlink:type="resource" xlink:label="lab_itub_TaxExpensesForISSPISAndCOFINS" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tax expenses for ISS, PIS and COFINS</label>
    <label xlink:type="resource" xlink:label="lab_itub_TaxExpensesForISSPISAndCOFINS" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Tax expenses for ISS, PIS and COFINS.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProfitSharing" xlink:label="loc_itub_ProfitSharing"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProfitSharing" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Profit Sharing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProfitSharing" xlink:to="lab_itub_ProfitSharing"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProfitSharing" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Profit sharing</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProfitSharing" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Profit sharing deducted from Income before taxes.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ForeignOperationsMember" xlink:label="loc_itub_ForeignOperationsMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ForeignOperationsMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Foreign Operations [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ForeignOperationsMember" xlink:to="lab_itub_ForeignOperationsMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:label="loc_us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Disclosure on Geographic Areas, Revenue from External Customers Attributed to Foreign Countries</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:to="lab_us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Total revenue from external customers</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet" xlink:label="loc_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Investmen Tin Unconsolidated Companies and Premises and Equipment Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet" xlink:to="lab_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet"/>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Investments in unconsolidated companies and premises and equipment, net</label>
    <label xlink:type="resource" xlink:label="lab_itub_InvestmenTinUnconsolidatedCompaniesAndPremisesAndEquipmentNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Carrying value of investments in unconsolidated companies and premises and equipment, net.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BusinessSegmentInformationTextualsAbstract" xlink:label="loc_itub_BusinessSegmentInformationTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Segment Information (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_BusinessSegmentInformationTextualsAbstract" xlink:to="lab_itub_BusinessSegmentInformationTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Business Segment Information (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_BusinessSegmentInformationTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Business Segment Information (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AmountNotConsideredInSegmentReportingInformationMember" xlink:label="loc_itub_AmountNotConsideredInSegmentReportingInformationMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AmountNotConsideredInSegmentReportingInformationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amount Not Considered In Segment Reporting Information [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AmountNotConsideredInSegmentReportingInformationMember" xlink:to="lab_itub_AmountNotConsideredInSegmentReportingInformationMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DifferencesBetweenMeasurementOfNetIncomeBasedOnManagmentReportsAndUnderUsGaapMember" xlink:label="loc_itub_DifferencesBetweenMeasurementOfNetIncomeBasedOnManagmentReportsAndUnderUsGaapMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DifferencesBetweenMeasurementOfNetIncomeBasedOnManagmentReportsAndUnderUsGaapMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Differences Between Measurement Of Net Income Based On Managment Reports and Under Us Gaap [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DifferencesBetweenMeasurementOfNetIncomeBasedOnManagmentReportsAndUnderUsGaapMember" xlink:to="lab_itub_DifferencesBetweenMeasurementOfNetIncomeBasedOnManagmentReportsAndUnderUsGaapMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses" xlink:label="loc_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partial Reversal Of Additional Allowance For Loan and Lease Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses" xlink:to="lab_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Partial reversal of additional allowance for loan and lease losses.</label>
    <label xlink:type="resource" xlink:label="lab_itub_PartialReversalOfAdditionalAllowanceForLoanAndLeaseLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Partial Reversal Of Additional Allowance For Loan and Lease Losses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EffectOfRefis" xlink:label="loc_itub_EffectOfRefis"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfRefis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effect Of Refis</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EffectOfRefis" xlink:to="lab_itub_EffectOfRefis"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfRefis" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of Effect Of Refis during the period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_EffectOfRefis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effect Of Refis</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionForLossesArisingFromEconomicPlans" xlink:label="loc_itub_ProvisionForLossesArisingFromEconomicPlans"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForLossesArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provision For Losses Arising From Economic Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionForLossesArisingFromEconomicPlans" xlink:to="lab_itub_ProvisionForLossesArisingFromEconomicPlans"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForLossesArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Provision for losses arising from economic plans that were in effect during the 1980's.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForLossesArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provision For Losses Arising From Economic Plans</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxContingencies" xlink:label="loc_us-gaap_IncomeTaxReconciliationTaxContingencies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationTaxContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Income Tax Reconciliation, Tax Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxReconciliationTaxContingencies" xlink:to="lab_us-gaap_IncomeTaxReconciliationTaxContingencies"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IncomeTaxReconciliationTaxContingencies" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Income Tax Reconciliation, Tax Contingencies</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_EmployeeBenefitsAndShareBasedCompensation" xlink:label="loc_us-gaap_EmployeeBenefitsAndShareBasedCompensation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EmployeeBenefitsAndShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Employee Benefits and Share-based Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeBenefitsAndShareBasedCompensation" xlink:to="lab_us-gaap_EmployeeBenefitsAndShareBasedCompensation"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_EmployeeBenefitsAndShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Employee Benefits and Share-based Compensation</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProvisionForLoanLossesExpensed" xlink:label="loc_us-gaap_ProvisionForLoanLossesExpensed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provision for Loan Losses Expensed</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForLoanLossesExpensed" xlink:to="lab_us-gaap_ProvisionForLoanLossesExpensed"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ProvisionForLoanLossesExpensed" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provision for Loan Losses Expensed</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AmortizationOfAcquiredIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfAcquiredIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfAcquiredIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization of Acquired Intangible Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfAcquiredIntangibleAssets" xlink:to="lab_us-gaap_AmortizationOfAcquiredIntangibleAssets"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AmortizationOfAcquiredIntangibleAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization of Acquired Intangible Assets</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeGainLossOnDerivativeNet" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:to="lab_us-gaap_DerivativeGainLossOnDerivativeNet"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AdjustmentOfExcessPortionOfDeferredTaxAssets" xlink:label="loc_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Adjustment Of Excess Portion Of Deferred Tax Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets" xlink:to="lab_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets"/>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Adjustment of excess portion of deferred tax assets.</label>
    <label xlink:type="resource" xlink:label="lab_itub_AdjustmentOfExcessPortionOfDeferredTaxAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Adjustment Of Excess Portion Of Deferred Tax Assets</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherDifferencesInMeasurementCriteria" xlink:label="loc_itub_OtherDifferencesInMeasurementCriteria"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherDifferencesInMeasurementCriteria" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Differences In Measurement Criteria</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherDifferencesInMeasurementCriteria" xlink:to="lab_itub_OtherDifferencesInMeasurementCriteria"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherDifferencesInMeasurementCriteria" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other differences in measurement criteria.</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherDifferencesInMeasurementCriteria" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Differences In Measurement Criteria</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ProvisionForGainArisingFromEconomicPlans" xlink:label="loc_itub_ProvisionForGainArisingFromEconomicPlans"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForGainArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Provision For Gain Arising From Economic Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ProvisionForGainArisingFromEconomicPlans" xlink:to="lab_itub_ProvisionForGainArisingFromEconomicPlans"/>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForGainArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gain on sales of unconsolidated companies during the period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ProvisionForGainArisingFromEconomicPlans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Provision For Gain Arising From Economic Plans</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AmortizationOfGoodwill" xlink:label="loc_itub_AmortizationOfGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizationOfGoodwill" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Amortization Of Goodwill</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AmortizationOfGoodwill" xlink:to="lab_itub_AmortizationOfGoodwill"/>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizationOfGoodwill" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The aggregate expense charged against earnings to allocate the cost of goodwill in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</label>
    <label xlink:type="resource" xlink:label="lab_itub_AmortizationOfGoodwill" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Amortization Of Goodwill</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ImpactOfChangeInStrategicPartnership" xlink:label="loc_itub_ImpactOfChangeInStrategicPartnership"/>
    <label xlink:type="resource" xlink:label="lab_itub_ImpactOfChangeInStrategicPartnership" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Impact Of Change In Strategic Partnership</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ImpactOfChangeInStrategicPartnership" xlink:to="lab_itub_ImpactOfChangeInStrategicPartnership"/>
    <label xlink:type="resource" xlink:label="lab_itub_ImpactOfChangeInStrategicPartnership" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Impact of change in strategic partnership.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ImpactOfChangeInStrategicPartnership" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Impact Of Change In Strategic Partnership</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainOnExchangeOfInsuranceOperations" xlink:label="loc_itub_GainOnExchangeOfInsuranceOperations"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfInsuranceOperations" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain On Exchange Of Insurance Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainOnExchangeOfInsuranceOperations" xlink:to="lab_itub_GainOnExchangeOfInsuranceOperations"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfInsuranceOperations" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gain on exchange during the reporting period on insurance operations.</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainOnExchangeOfInsuranceOperations" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain On Exchange Of Insurance Operations</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RecognitionOfAdditionalAllowanceForLoansLosses" xlink:label="loc_itub_RecognitionOfAdditionalAllowanceForLoansLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfAdditionalAllowanceForLoansLosses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Recognition Of Additional Allowance For Loans Losses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RecognitionOfAdditionalAllowanceForLoansLosses" xlink:to="lab_itub_RecognitionOfAdditionalAllowanceForLoansLosses"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfAdditionalAllowanceForLoansLosses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Recognition of additional allowance for loans losses.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfAdditionalAllowanceForLoansLosses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recognition Of Additional Allowance For Loans Losses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SaleOfInterestAndImpairmentOfInvestment" xlink:label="loc_itub_SaleOfInterestAndImpairmentOfInvestment"/>
    <label xlink:type="resource" xlink:label="lab_itub_SaleOfInterestAndImpairmentOfInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Sale Of Interest and Impairment Of Investment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SaleOfInterestAndImpairmentOfInvestment" xlink:to="lab_itub_SaleOfInterestAndImpairmentOfInvestment"/>
    <label xlink:type="resource" xlink:label="lab_itub_SaleOfInterestAndImpairmentOfInvestment" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Sale of interest and impairment of investment</label>
    <label xlink:type="resource" xlink:label="lab_itub_SaleOfInterestAndImpairmentOfInvestment" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Sale Of Interest and Impairment Of Investment</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EffectsOfAdoptionOfLaw" xlink:label="loc_itub_EffectsOfAdoptionOfLaw"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectsOfAdoptionOfLaw" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Effects Of Adoption Of Law</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EffectsOfAdoptionOfLaw" xlink:to="lab_itub_EffectsOfAdoptionOfLaw"/>
    <label xlink:type="resource" xlink:label="lab_itub_EffectsOfAdoptionOfLaw" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Effects of adoption of law.</label>
    <label xlink:type="resource" xlink:label="lab_itub_EffectsOfAdoptionOfLaw" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Effects Of Adoption Of Law</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry" xlink:label="loc_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Gain Recognized Under Accounting Practices Adopted In Domestic Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry" xlink:to="lab_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry"/>
    <label xlink:type="resource" xlink:label="lab_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Gain recognized under accounting practices adopted in domestic country.</label>
    <label xlink:type="resource" xlink:label="lab_itub_GainRecognizedUnderAccountingPracticesAdoptedInDomesticCountry" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Gain Recognized Under Accounting Practices Adopted In Domestic Country</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RecognitionOfIntegrationAndRestructuringProvisions" xlink:label="loc_itub_RecognitionOfIntegrationAndRestructuringProvisions"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfIntegrationAndRestructuringProvisions" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Recognition Of Integration and Restructuring Provisions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RecognitionOfIntegrationAndRestructuringProvisions" xlink:to="lab_itub_RecognitionOfIntegrationAndRestructuringProvisions"/>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfIntegrationAndRestructuringProvisions" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Recognition of integration and restructuring provisions.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RecognitionOfIntegrationAndRestructuringProvisions" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Recognition Of Integration and Restructuring Provisions</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity" xlink:label="loc_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity"/>
    <label xlink:type="resource" xlink:label="lab_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equalization Of Accounting Criteria Related With Transaction With Entity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity" xlink:to="lab_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity"/>
    <label xlink:type="resource" xlink:label="lab_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equalization of accounting criteria related with transaction with entity.</label>
    <label xlink:type="resource" xlink:label="lab_itub_EqualizationOfAccountingCriteriaRelatedWithTransactionWithEntity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equalization Of Accounting Criteria Related With Transaction With Entity</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherNonrecurringEventsExpenses" xlink:label="loc_itub_OtherNonrecurringEventsExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonrecurringEventsExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Nonrecurring Events Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherNonrecurringEventsExpenses" xlink:to="lab_itub_OtherNonrecurringEventsExpenses"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonrecurringEventsExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other non-recurring events expenses incurred during the reporting period.</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherNonrecurringEventsExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other Nonrecurring Events Expenses</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RelatedPartiesDetailsAbstract" xlink:label="loc_itub_RelatedPartiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RelatedPartiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Parties (Details) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RelatedPartiesDetailsAbstract" xlink:to="lab_itub_RelatedPartiesDetailsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_RelatedPartiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">RELATED PARTIES (Details).</label>
    <label xlink:type="resource" xlink:label="lab_itub_RelatedPartiesDetailsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Related Parties (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Related Party Transactions, By Related Party [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transactions, By Related Party [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Related Party Transactions, by Related Party [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Related Party [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PortoSeguroSAMember" xlink:label="loc_itub_PortoSeguroSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_PortoSeguroSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Porto Seguro S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PortoSeguroSAMember" xlink:to="lab_itub_PortoSeguroSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UnibancoRodobensAdministradoraDeConsorciosLtdaMember" xlink:label="loc_itub_UnibancoRodobensAdministradoraDeConsorciosLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UnibancoRodobensAdministradoraDeConsorciosLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Unibanco Rodobens Administradora De Consorcios Ltda [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UnibancoRodobensAdministradoraDeConsorciosLtdaMember" xlink:to="lab_itub_UnibancoRodobensAdministradoraDeConsorciosLtdaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauUnibancoHoldingSAMember" xlink:label="loc_itub_ItauUnibancoHoldingSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauUnibancoHoldingSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Unibanco Holding S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauUnibancoHoldingSAMember" xlink:to="lab_itub_ItauUnibancoHoldingSAMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Related Party Transaction [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Related Party Transaction [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndDueFromBanksAbstract" xlink:label="loc_us-gaap_CashAndDueFromBanksAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndDueFromBanksAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Due from Banks [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndDueFromBanksAbstract" xlink:to="lab_us-gaap_CashAndDueFromBanksAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_CashAndDueFromBanksAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Cash and due from banks</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CashAndDueFromBanksRelatedParties" xlink:label="loc_itub_CashAndDueFromBanksRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndDueFromBanksRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Cash and Due From Banks Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CashAndDueFromBanksRelatedParties" xlink:to="lab_itub_CashAndDueFromBanksRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndDueFromBanksRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Tecnologia Bancaria S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_CashAndDueFromBanksRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of cash and due from banks related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterbankInvestmentsAbstract" xlink:label="loc_itub_InterbankInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterbankInvestmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interbank Investments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterbankInvestmentsAbstract" xlink:to="lab_itub_InterbankInvestmentsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterbankInvestmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interbank investments</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterbankInvestmentsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Interbank Investments.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterBankInvestmentsRelatedParties" xlink:label="loc_itub_InterBankInvestmentsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterBankInvestmentsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Inter Bank Investments Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterBankInvestmentsRelatedParties" xlink:to="lab_itub_InterBankInvestmentsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterBankInvestmentsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Porto Seguro S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterBankInvestmentsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of interbank investments related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DividendsReceivableAbstract" xlink:label="loc_itub_DividendsReceivableAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends Receivable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DividendsReceivableAbstract" xlink:to="lab_itub_DividendsReceivableAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends receivable</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Dividends Receivable.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DividendsReceivableRelatedParties" xlink:label="loc_itub_DividendsReceivableRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dividends Receivable Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DividendsReceivableRelatedParties" xlink:to="lab_itub_DividendsReceivableRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Dividends Receivable Related Parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_DividendsReceivableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of dividends receivable related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesFromRelatedCompaniesAbstract" xlink:label="loc_itub_ReceivablesFromRelatedCompaniesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables From Related Companies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesFromRelatedCompaniesAbstract" xlink:to="lab_itub_ReceivablesFromRelatedCompaniesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables from related companies</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Receivables From Related Companies.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesFromRelatedCompaniesRelatedParties" xlink:label="loc_itub_ReceivablesFromRelatedCompaniesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables From Related Companies Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesFromRelatedCompaniesRelatedParties" xlink:to="lab_itub_ReceivablesFromRelatedCompaniesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Porto Seguro S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of receivables from related companies related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DemandDepositsAbstract" xlink:label="loc_itub_DemandDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Demand Deposits [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DemandDepositsAbstract" xlink:to="lab_itub_DemandDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Demand deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Demand Deposits.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DemandDepositsRelatedParties" xlink:label="loc_itub_DemandDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Demand Deposits Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DemandDepositsRelatedParties" xlink:to="lab_itub_DemandDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Demand deposits related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_DemandDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of demand deposits related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TimeDepositsAbstract" xlink:label="loc_us-gaap_TimeDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TimeDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Time Deposits [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TimeDepositsAbstract" xlink:to="lab_us-gaap_TimeDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_TimeDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Time deposits</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TimeDepositsRelatedParties" xlink:label="loc_itub_TimeDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_TimeDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Time Deposits Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TimeDepositsRelatedParties" xlink:to="lab_itub_TimeDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_TimeDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Time Deposits Related Parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_TimeDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of time deposits related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract" xlink:label="loc_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities Sold Under Repurchase Agreements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract" xlink:to="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securities sold under repurchase agreements</label>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Securities Sold Under Repurchase Agreements.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties" xlink:label="loc_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities Sold Under Repurchase Agreements Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties" xlink:to="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Olimpia Promocao e Servicos S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesSoldUnderRepurchaseAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of Securities sold under repurchase agreements related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FundingExpensesAbstract" xlink:label="loc_itub_FundingExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Funding Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FundingExpensesAbstract" xlink:to="lab_itub_FundingExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Funding expenses</label>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Funding Expenses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FundingExpensesRelatedParties" xlink:label="loc_itub_FundingExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Funding Expenses Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FundingExpensesRelatedParties" xlink:to="lab_itub_FundingExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Funding Expenses Related Parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_FundingExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of funding expenses related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ThirdPartyServiceExpenseAbstract" xlink:label="loc_itub_ThirdPartyServiceExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Third Party Service Expense [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ThirdPartyServiceExpenseAbstract" xlink:to="lab_itub_ThirdPartyServiceExpenseAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Funding Expenses Related Parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Third Party Service Expense.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ThirdPartyServiceExpenseRelateParties" xlink:label="loc_itub_ThirdPartyServiceExpenseRelateParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseRelateParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Third Party Service Expense Relate Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ThirdPartyServiceExpenseRelateParties" xlink:to="lab_itub_ThirdPartyServiceExpenseRelateParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseRelateParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Olimpia Promocao e Servicos S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_ThirdPartyServiceExpenseRelateParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of third party service expenses related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherOperatingIncomeAbstract" xlink:label="loc_itub_OtherOperatingIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operating Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherOperatingIncomeAbstract" xlink:to="lab_itub_OtherOperatingIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other operating income</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other Operating Income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherOperatingIncomeRelatedParties" xlink:label="loc_itub_OtherOperatingIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operating Income Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherOperatingIncomeRelatedParties" xlink:to="lab_itub_OtherOperatingIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Porto Seguro S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of third party service expenses related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FeeAndCommissionIncomeAbstract" xlink:label="loc_itub_FeeAndCommissionIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fee and Commission Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FeeAndCommissionIncomeAbstract" xlink:to="lab_itub_FeeAndCommissionIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fee and commission income</label>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Fee And Commission Income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FeeAndCommissionIncomeRelatedParties" xlink:label="loc_itub_FeeAndCommissionIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fee and Commission Income Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FeeAndCommissionIncomeRelatedParties" xlink:to="lab_itub_FeeAndCommissionIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Fee and commission income related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_FeeAndCommissionIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of fee and commission income related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_IthZuxCaymanCompanyLtdMember" xlink:label="loc_itub_IthZuxCaymanCompanyLtdMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_IthZuxCaymanCompanyLtdMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ith Zux Cayman Company Ltd [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_IthZuxCaymanCompanyLtdMember" xlink:to="lab_itub_IthZuxCaymanCompanyLtdMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DuratexSAMember" xlink:label="loc_itub_DuratexSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DuratexSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Duratex S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DuratexSAMember" xlink:to="lab_itub_DuratexSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ElekeirozSAOneMember" xlink:label="loc_itub_ElekeirozSAOneMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ElekeirozSAOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Elekeiroz S.A One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ElekeirozSAOneMember" xlink:to="lab_itub_ElekeirozSAOneMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ElekeirozSATwoMember" xlink:label="loc_itub_ElekeirozSATwoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ElekeirozSATwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Elekeiroz S.A Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ElekeirozSATwoMember" xlink:to="lab_itub_ElekeirozSATwoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaEmpreendimentosSAOneMember" xlink:label="loc_itub_ItausaEmpreendimentosSAOneMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaEmpreendimentosSAOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Empreendimentos S.A One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaEmpreendimentosSAOneMember" xlink:to="lab_itub_ItausaEmpreendimentosSAOneMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaEmpreendimentosSATwoMember" xlink:label="loc_itub_ItausaEmpreendimentosSATwoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaEmpreendimentosSATwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Empreendimentos S.A Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaEmpreendimentosSATwoMember" xlink:to="lab_itub_ItausaEmpreendimentosSATwoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItautecSAMember" xlink:label="loc_itub_ItautecSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItautecSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itautec S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItautecSAMember" xlink:to="lab_itub_ItautecSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaEmpreendimentosSAMember" xlink:label="loc_itub_ItausaEmpreendimentosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaEmpreendimentosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Empreendimentos S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaEmpreendimentosSAMember" xlink:to="lab_itub_ItausaEmpreendimentosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItauGestaoDeAtivosSAMember" xlink:label="loc_itub_ItauGestaoDeAtivosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItauGestaoDeAtivosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itau Gestao De Ativos S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItauGestaoDeAtivosSAMember" xlink:to="lab_itub_ItauGestaoDeAtivosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ItausaInvestimentosSAMember" xlink:label="loc_itub_ItausaInvestimentosSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_ItausaInvestimentosSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Itausa Investimentos S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ItausaInvestimentosSAMember" xlink:to="lab_itub_ItausaInvestimentosSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestBearingDepositsAbstract" xlink:label="loc_itub_InterestBearingDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Bearing Deposits [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestBearingDepositsAbstract" xlink:to="lab_itub_InterestBearingDepositsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest-bearing deposits</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Interest Bearing Deposits.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InterestBearingDepositsRelatedParties" xlink:label="loc_itub_InterestBearingDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Interest Bearing Deposits Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InterestBearingDepositsRelatedParties" xlink:to="lab_itub_InterestBearingDepositsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Interest bearing deposits related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_InterestBearingDepositsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of interest bearing deposits related to related parties transactions as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PercentageOfAnnualInterestRelatedParties" xlink:label="loc_itub_PercentageOfAnnualInterestRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfAnnualInterestRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percentage Of Annual Interest Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PercentageOfAnnualInterestRelatedParties" xlink:to="lab_itub_PercentageOfAnnualInterestRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfAnnualInterestRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Annual interest (%)</label>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfAnnualInterestRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of interest bearing deposits annual interest related to related parties as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SecuritiesPurchasedUnderResaleAgreementsAbstract" xlink:label="loc_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities Purchased Under Resale Agreements [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract" xlink:to="lab_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securites purchased under resale agreements</label>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Securities Purchased Under Resale Agreements.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties" xlink:label="loc_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Securities Purchased Under Resale Agreements Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties" xlink:to="lab_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Securities purchased under resale agreements related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_SecuritiesPurchasedUnderResaleAgreementsRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of securities purchased under resale agreements related to related parties as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeNotesPayableAbstract" xlink:label="loc_itub_TradeNotesPayableAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Notes Payable [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeNotesPayableAbstract" xlink:to="lab_itub_TradeNotesPayableAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trade notes payable</label>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Trade Notes Payable.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_TradeNotesPayableRelatedParties" xlink:label="loc_itub_TradeNotesPayableRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Trade Notes Payable Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_TradeNotesPayableRelatedParties" xlink:to="lab_itub_TradeNotesPayableRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Trade notes payable related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_TradeNotesPayableRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Amount of trade notes payable related to related parties as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilitiesAbstract" xlink:label="loc_us-gaap_OtherLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesAbstract" xlink:to="lab_us-gaap_OtherLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_OtherLiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other liabilities &#8211; payable due to transactions with credit cards</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherLiabilitiesRelatedParties" xlink:label="loc_itub_OtherLiabilitiesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Liabilities Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherLiabilitiesRelatedParties" xlink:to="lab_itub_OtherLiabilitiesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Redecard S.A. (2)</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherLiabilitiesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of payable due to transactions with credit cards related to related parties as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_RentExpensesRelatedParties" xlink:label="loc_itub_RentExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_RentExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Rent Expenses Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_RentExpensesRelatedParties" xlink:to="lab_itub_RentExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_RentExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Rent expenses related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_RentExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Itausa Investimentos S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_RentExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of rent expenses related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EquipmentAndSoftwarePurchasedAbstract" xlink:label="loc_itub_EquipmentAndSoftwarePurchasedAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equipment and Software Purchased [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EquipmentAndSoftwarePurchasedAbstract" xlink:to="lab_itub_EquipmentAndSoftwarePurchasedAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Equipment and sofwared purchased</label>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Equipment and Software Purchased.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_EquipmentAndSoftwarePurchasedRelatedParties" xlink:label="loc_itub_EquipmentAndSoftwarePurchasedRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Equipment and Software Purchased Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_EquipmentAndSoftwarePurchasedRelatedParties" xlink:to="lab_itub_EquipmentAndSoftwarePurchasedRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Itautec S.A. (1)</label>
    <label xlink:type="resource" xlink:label="lab_itub_EquipmentAndSoftwarePurchasedRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of equipment and software purchased expenses related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherOperatingIncomeExpensesAbstract" xlink:label="loc_itub_OtherOperatingIncomeExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operating Income Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherOperatingIncomeExpensesAbstract" xlink:to="lab_itub_OtherOperatingIncomeExpensesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Other operating income (expenses)</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Other Operating Income Expenses.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherOperatingIncomeExpensesRelatedParties" xlink:label="loc_itub_OtherOperatingIncomeExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Operating Income Expenses Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherOperatingIncomeExpensesRelatedParties" xlink:to="lab_itub_OtherOperatingIncomeExpensesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xml:lang="en-US">Itausa Investimentos S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Itausa Investimentos S.A.</label>
    <label xlink:type="resource" xlink:label="lab_itub_OtherOperatingIncomeExpensesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of other operating income (expenses) related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NonoperatingIncomeAbstract" xlink:label="loc_itub_NonoperatingIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nonoperating Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NonoperatingIncomeAbstract" xlink:to="lab_itub_NonoperatingIncomeAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Non-operating income</label>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Nonoperating Income.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NonoperatingIncomeRelatedParties" xlink:label="loc_itub_NonoperatingIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Nonoperating Income Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NonoperatingIncomeRelatedParties" xlink:to="lab_itub_NonoperatingIncomeRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Nonoperating income related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_NonoperatingIncomeRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of nonoperating income related to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InstitutoItauCulturalMember" xlink:label="loc_itub_InstitutoItauCulturalMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InstitutoItauCulturalMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Instituto Itau Cultural [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InstitutoItauCulturalMember" xlink:to="lab_itub_InstitutoItauCulturalMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_InstitutoUnibancoDeCinemaMember" xlink:label="loc_itub_InstitutoUnibancoDeCinemaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_InstitutoUnibancoDeCinemaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Instituto Unibanco De Cinema [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_InstitutoUnibancoDeCinemaMember" xlink:to="lab_itub_InstitutoUnibancoDeCinemaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_AssociacaoClubeAMember" xlink:label="loc_itub_AssociacaoClubeAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_AssociacaoClubeAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Associacao Clube A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_AssociacaoClubeAMember" xlink:to="lab_itub_AssociacaoClubeAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FundacaoBemgeprevMember" xlink:label="loc_itub_FundacaoBemgeprevMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundacaoBemgeprevMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fundacao Bemgeprev [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FundacaoBemgeprevMember" xlink:to="lab_itub_FundacaoBemgeprevMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_UbbPrevPrevidenciaComplementarMember" xlink:label="loc_itub_UbbPrevPrevidenciaComplementarMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_UbbPrevPrevidenciaComplementarMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Ubb Prev Previdencia Complementar [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_UbbPrevPrevidenciaComplementarMember" xlink:to="lab_itub_UbbPrevPrevidenciaComplementarMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FundacaoBanorteManuelBaptistaDaSilvaDeSeguridadeSocialMember" xlink:label="loc_itub_FundacaoBanorteManuelBaptistaDaSilvaDeSeguridadeSocialMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundacaoBanorteManuelBaptistaDaSilvaDeSeguridadeSocialMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fundacao Banorte Manuel Baptista Da Silva De Seguridade Social [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FundacaoBanorteManuelBaptistaDaSilvaDeSeguridadeSocialMember" xlink:to="lab_itub_FundacaoBanorteManuelBaptistaDaSilvaDeSeguridadeSocialMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_OtherRelatedPartiesMember" xlink:label="loc_itub_OtherRelatedPartiesMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_OtherRelatedPartiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Other Related Parties [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_OtherRelatedPartiesMember" xlink:to="lab_itub_OtherRelatedPartiesMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FundacaoItaubancoMember" xlink:label="loc_itub_FundacaoItaubancoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FundacaoItaubancoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Fundacao Itaubanco [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FundacaoItaubancoMember" xlink:to="lab_itub_FundacaoItaubancoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_FunbepFundoDePensaoMultipatrocinadoMember" xlink:label="loc_itub_FunbepFundoDePensaoMultipatrocinadoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_FunbepFundoDePensaoMultipatrocinadoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Funbep Fundo De Pensao Multipatrocinado [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_FunbepFundoDePensaoMultipatrocinadoMember" xlink:to="lab_itub_FunbepFundoDePensaoMultipatrocinadoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DonationsToRelatedPartiesAbstract" xlink:label="loc_itub_DonationsToRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedPartiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Donations To Related Parties [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DonationsToRelatedPartiesAbstract" xlink:to="lab_itub_DonationsToRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedPartiesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Donations made by Itau</label>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedPartiesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Donations To Related Parties.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DonationsToRelatedParties" xlink:label="loc_itub_DonationsToRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Donations To Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DonationsToRelatedParties" xlink:to="lab_itub_DonationsToRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Donations to related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_DonationsToRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of donations to related parties during the period.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesFromPayableToRelatedCompaniesAbstract" xlink:label="loc_itub_ReceivablesFromPayableToRelatedCompaniesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables From Payable To Related Companies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesFromPayableToRelatedCompaniesAbstract" xlink:to="lab_itub_ReceivablesFromPayableToRelatedCompaniesAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables from (payable to) related companies</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Receivables From Payable To Related Companies.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties" xlink:label="loc_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Receivables From Payable To Related Companies Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties" xlink:to="lab_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties"/>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Receivables from payable to related companies related parties</label>
    <label xlink:type="resource" xlink:label="lab_itub_ReceivablesFromPayableToRelatedCompaniesRelatedParties" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">The amount of receivables from payable to related companies related parties as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_StrategicPartnershipsTextualsAbstract" xlink:label="loc_itub_StrategicPartnershipsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StrategicPartnershipsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Strategic Partnerships (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_StrategicPartnershipsTextualsAbstract" xlink:to="lab_itub_StrategicPartnershipsTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_StrategicPartnershipsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">STRATEGIC PARTNERSHIPS (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_StrategicPartnershipsTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Strategic Partnerships (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartnershipDomain" xlink:label="loc_itub_PartnershipDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partnership [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PartnershipDomain" xlink:to="lab_itub_PartnershipDomain"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Partnership.</label>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Partnership [Domain]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MagazineLuizaMember" xlink:label="loc_itub_MagazineLuizaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_MagazineLuizaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Magazine Luiza [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MagazineLuizaMember" xlink:to="lab_itub_MagazineLuizaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CompanhiaBrasileiradeDistribuicaoMember" xlink:label="loc_itub_CompanhiaBrasileiradeDistribuicaoMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CompanhiaBrasileiradeDistribuicaoMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Companhia Brasileirade Distribuicao [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CompanhiaBrasileiradeDistribuicaoMember" xlink:to="lab_itub_CompanhiaBrasileiradeDistribuicaoMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_MarisaSAMember" xlink:label="loc_itub_MarisaSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_MarisaSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Marisa S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_MarisaSAMember" xlink:to="lab_itub_MarisaSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_LojasAmericanasSAAndBwuComercioeEntretenimentoSAMember" xlink:label="loc_itub_LojasAmericanasSAAndBwuComercioeEntretenimentoSAMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_LojasAmericanasSAAndBwuComercioeEntretenimentoSAMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Lojas Americanas S.A and Bwu Comercioe Entretenimento S.A [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_LojasAmericanasSAAndBwuComercioeEntretenimentoSAMember" xlink:to="lab_itub_LojasAmericanasSAAndBwuComercioeEntretenimentoSAMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CoelhoDaFonsecaEmpreendimentosImobiliariosLtdaMember" xlink:label="loc_itub_CoelhoDaFonsecaEmpreendimentosImobiliariosLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_CoelhoDaFonsecaEmpreendimentosImobiliariosLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Coelho Da Fonseca Empreendimentos Imobiliarios Ltda [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CoelhoDaFonsecaEmpreendimentosImobiliariosLtdaMember" xlink:to="lab_itub_CoelhoDaFonsecaEmpreendimentosImobiliariosLtdaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_DafraDaAmazoniaIndustriaEComercioLtdaMember" xlink:label="loc_itub_DafraDaAmazoniaIndustriaEComercioLtdaMember"/>
    <label xlink:type="resource" xlink:label="lab_itub_DafraDaAmazoniaIndustriaEComercioLtdaMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Dafra Da Amazonia Industria E Comercio Ltda [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_DafraDaAmazoniaIndustriaEComercioLtdaMember" xlink:to="lab_itub_DafraDaAmazoniaIndustriaEComercioLtdaMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PartnershipLineItems" xlink:label="loc_itub_PartnershipLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Partnership [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PartnershipLineItems" xlink:to="lab_itub_PartnershipLineItems"/>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label xlink:type="resource" xlink:label="lab_itub_PartnershipLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Partnership [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PercentageOfHoldingInStrategicPartnersVotingCapital" xlink:label="loc_itub_PercentageOfHoldingInStrategicPartnersVotingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfHoldingInStrategicPartnersVotingCapital" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Percentage Of Holding In Strategic Partners Voting Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PercentageOfHoldingInStrategicPartnersVotingCapital" xlink:to="lab_itub_PercentageOfHoldingInStrategicPartnersVotingCapital"/>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfHoldingInStrategicPartnersVotingCapital" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Percentage of Holding in Strategic Partners Voting Capital</label>
    <label xlink:type="resource" xlink:label="lab_itub_PercentageOfHoldingInStrategicPartnersVotingCapital" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Percentage of holding in strategic partners voting capital.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_PaymentRelatedToExtendPeriodOfExclusivity" xlink:label="loc_itub_PaymentRelatedToExtendPeriodOfExclusivity"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExtendPeriodOfExclusivity" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Payment Related To Extend Period Of Exclusivity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_PaymentRelatedToExtendPeriodOfExclusivity" xlink:to="lab_itub_PaymentRelatedToExtendPeriodOfExclusivity"/>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExtendPeriodOfExclusivity" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Payment Related To Extend the Period of Exclusivity</label>
    <label xlink:type="resource" xlink:label="lab_itub_PaymentRelatedToExtendPeriodOfExclusivity" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Payment made during the period to extend the period of exclusivity as of the reporting date.</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetAmount" xlink:label="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetAmount" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquired Finite-lived Intangible Asset, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetAmount" xlink:to="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetAmount"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquired Finite-lived Intangible Asset, Amount</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:label="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Acquired Finite-lived Intangible Asset, Weighted Average Useful Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:to="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetWeightedAverageUsefulLife" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Acquired Finite-lived Intangible Asset, Weighted Average Useful Life</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract" xlink:label="loc_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Commitments Related To Itau Bba Acquisition (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract" xlink:to="lab_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">COMMITMENTS RELATED TO ITAU BBA ACQUISITION (Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_CommitmentsRelatedToItauBbaAcquisitionTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Commitments Related To Itau Bba Acquisition (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:label="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Schedule Of Restructuring and Related Costs [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:to="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_ScheduleOfRestructuringAndRelatedCostsTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Schedule of Restructuring and Related Costs [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RestructuringCostAndReserveLineItems" xlink:label="loc_us-gaap_RestructuringCostAndReserveLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestructuringCostAndReserveLineItems" xlink:to="lab_us-gaap_RestructuringCostAndReserveLineItems"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_RestructuringCostAndReserveLineItems" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Restructuring Cost and Reserve [Line Items]</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition" xlink:label="loc_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Net Assets and Liabilities Relating To Commitments Arising From Business Acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition" xlink:to="lab_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition"/>
    <label xlink:type="resource" xlink:label="lab_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Net Assets and Liabilities Relating To Commitments Arising From Business Acquisition</label>
    <label xlink:type="resource" xlink:label="lab_itub_NetAssetsAndLiabilitiesRelatingToCommitmentsArisingFromBusinessAcquisition" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">Net assets and liabilities relating to commitments arising from business acquisition.</label>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_SubsequentEventTextualsAbstract" xlink:label="loc_itub_SubsequentEventTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SubsequentEventTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Event (Textuals) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_itub_SubsequentEventTextualsAbstract" xlink:to="lab_itub_SubsequentEventTextualsAbstract"/>
    <label xlink:type="resource" xlink:label="lab_itub_SubsequentEventTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xml:lang="en-US">SUBSEQUENT EVENT (Details Textuals).</label>
    <label xlink:type="resource" xlink:label="lab_itub_SubsequentEventTextualsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subsequent Event (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="loc_us-gaap_SubsequentEventTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Event [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable" xlink:to="lab_us-gaap_SubsequentEventTable"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subsequent Event [Table]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Event Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subsequent Event Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Subsequent Event Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xml:lang="en-US">Subsequent Event Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_BusinessCombinationMember" xlink:label="loc_us-gaap_BusinessCombinationMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_BusinessCombinationMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Business Combination [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationMember" xlink:to="lab_us-gaap_BusinessCombinationMember"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IssuanceOfEquityMember" xlink:label="loc_us-gaap_IssuanceOfEquityMember"/>
    <label xlink:type="resource" xlink:label="lab_us-gaap_IssuanceOfEquityMember" xlink:role="http://www.xbrl.org/2003/role/label" xml:lang="en-US">Issuance of Equity [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IssuanceOfEquityMember" xlink:to="lab_us-gaap_IssuanceOfEquityMember"/>
    <loc xlink:type="locator" xlink:href="itub-20101231.xsd#itub_BancoCarrefourMember" xlink:label="loc_itub_BancoCarrefourMember"/>
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