Exhibit 8.1
List of Subsidiaries
Country of incorporation | Voting interest (%) as of December 31,2010 | |||||
| Afinco Américas Madeira, SGPS, Soc. Unipessoal Ltda. | Portugal | 100.00 | % | |||
| Banco Dibens S.A. (1) | Brazil | 100.00 | % | |||
| Banco Fiat S.A. (2) | Brazil | 100.00 | % | |||
| Banco Investcred Unibanco S.A. (1) | Brazil | 50.00 | % | |||
| Banco Itaú Argentina S.A. | Argentina | 100.00 | % | |||
| Banco Itaú BBA S.A. | Brazil | 99.99 | % | |||
| Banco Itaú Chile S.A. | Chile | 99.99 | % | |||
| Banco Itaú Europa Luxembourg S.A. | Luxembourg | 99.98 | % | |||
| Banco Itaú BBA International S.A. | Portugal | 99.99 | % | |||
| Banco Itaú Paraguay S.A. (1)(3) | Paraguay | 99.99 | % | |||
| Banco Itaú Uruguay S.A. | Uruguay | 100.00 | % | |||
| Banco ItauBank S.A. | Brazil | 100.00 | % | |||
| Banco Itaucard S.A. (2) | Brazil | 100.00 | % | |||
| Banco Itaucred Financiamentos S.A. (2) | Brazil | 100.00 | % | |||
| Banco Itauleasing S.A. (2) | Brazil | 100.00 | % | |||
| BIU Participações S.A. (4) | Brazil | 66.15 | % | |||
| Cia Itaú de Capitalização | Brazil | 99.99 | % | |||
| Dibens Leasing S.A. - Arrendamento Mercantil (1)(2) | Brazil | 100.00 | % | |||
| FAI - Financeira Americanas Itaú S.A. Crédito, Financiamento e Investimento | Brazil | 50.00 | % | |||
| Fiat Administradora de Consórcios Ltda. | Brazil | 99.99 | % | |||
| Financeira Itaú CBD S.A. Crédito, Financiamento e Investimento | Brazil | 50.00 | % | |||
| Hipercard Banco Múltiplo S.A. (1)(2) | Brazil | 100.00 | % | |||
| Itaú Administradora de Consórcios Ltda. | Brazil | 99.99 | % | |||
| Itaú Bank, Ltd. | Cayman Islands | 100.00 | % | |||
| Itaú Corretora de Valores S.A. (2) | Brazil | 100.00 | % | |||
| Itaú Seguros S.A. | Brazil | 100.00 | % | |||
| Itaú Unibanco S.A. | Brazil | 100.00 | % | |||
| Itaú Vida e Previdência S.A. | Brazil | 100.00 | % | |||
| Itaú XL Seguros Corporativos S.A. (5) | Brazil | 100.00 | % | |||
| Itaúsa Export S.A. | Brazil | 100.00 | % | |||
| Luizacred S.A. Sociedade Crédito Financiamento Investimento (1) | Brazil | 50.00 | % | |||
| Oca Casa Financiera S.A. | Uruguay | 100.00 | % | |||
| Orbitall Serviços e Processamento de Informações Comerciais S.A. | Brazil | 99.99 | % | |||
| Ponto Frio Leasing S.A. Arrendamento Mercantil (1) | Brazil | 50.00 | % | |||
| Redecard S.A. (6) | Brazil | 50.01 | % | |||
| Unibanco - União de Banco Brasileiros S.A. (1) | Brazil | 100.00 | % | |||
| Unibanco Holdings S.A. (1) | Brazil | 100.00 | % | |||
| Unibanco Cayman Bank Ltd (1) | Cayman Islands | 100.00 | % | |||
| Unibanco Participações Societárias S.A. (1)(2) | Brazil | 100.00 | % | |||
| Unicard Banco Múltiplo S.A. (1)(2) | Brazil | 100.00 | % | |||
(1) Company consolidated as of February 2009 as a result of the acquisition of control in Unibanco and Unibanco Holdings, as described in Note 3a to our consolidated financial statements.
(2) As of December 31, 2009, we had 9.,99% interest in these subsidiaries.
(3) New denomination of former Interbanco S.A.
(4) Company consolidated as of February 2009 as a result of the acquisition of Unibanco, which held a 24.49% interest.
(5) Through December 31, 2009, we held 50% plus one voting share of Itaú XL but did not have control due to veto rights held by the other shareholder. On May 12, 2010 we paid in cash R$ 157 to purchase all outstanding shares of Itaú XL and we have consolidated Itaú XL from such date. No significant gain or loss resulted upon obtaining control of Itaú XL.
(6) Company consolidated as of March 2009, at the time of the acquisition of control, as described in Note 3b to our consolidated financial statements.