Brazil's BTG Pactual misses profit estimates as taxes spike

martes 4 de noviembre de 2014 18:11 GYT

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)