Shareholders of Itaú Unibanco Holding SA approved a 50% stock split in which they will receive 1 new share for every 2 shares of the same type they hold, the bank said in a securities filing.

The bank's capital stock is composed of 6,536,090,232 shares, which include 3,305,526,906 common and 3,230,563,326 preferred shares.

The bank's shareholders also approved to raise the limit of its authorized capital, in the same proportion of the stock split.