Brazil's BTG Pactual misses profit estimates as taxes spike
SAO PAULO Nov 4 (Reuters) - Grupo BTG Pactual SA , the largest independent investment bank in Latin America, missed third-quarter profit estimates on Tuesday because of an unexpected jump in taxes, declining revenue and climbing expenses.
The São Paulo-based bank, controlled by billionaire financier André Esteves, earned 769 million reais ($308 million)in the quarter, below the average estimate of 864 million reais in a Reuters poll.
($1 = 2.4959 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Chris Reese)
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