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SAO PAULO, May 5 (Reuters) - Itaú Unibanco Holding SA, Brazil's largest bank by market value, reported first-quarter profit that beat expectations after interest income jumped and expenses dropped.
São Paulo-based Itaú earned 5.808 billion reais ($1.88 billion) in recurring net income, a measure of profit excluding one-time items, according to a securities filing on Tuesday. A Reuters poll of five analysts predicted recurring profit of 5.590 billion reais for the quarter.
$1 = 3.0875 Brazilian reais Reporting by Guillermo Parra-Bernal