Brazil’s largest private bank, Itau, posted a 37% gain in net profit in the second quarter to $2.15 billion, the bank reported. The result left profit in the first half of the year 32% higher at $4.11 billion. The bank said its earnings in the first six months of the year were positively influenced by improved banking operations results and a decline in loan delinquency. The results were also favorably impacted by amortization of a premium paid on purchase of lender Credicard and lengthening of PIS/Cofins tax payments on its re-insurance holding, IRB. The second quarter profit by Itau comes after private sector banking rival Bradesco last week reported a 28% increase in second-quarter profit to $1.67 billion.