Banco do Brasil beats profit estimates as provisions fall

jueves 13 de agosto de 2015 06:16 GYT
 

SAO PAULO Aug 13 (Reuters) - State-controlled Banco do Brasil SA beat second-quarter profit estimates on Thursday after management cut loan-loss provisions in the face of a decline in interest income and higher taxes.

Brasilia-based Banco do Brasil, the nation's largest bank by assets, earned net income before one-time items of 3.04 billion reais ($875 million) last quarter, compared with an estimated recurring profit of 2.98 billion reais in a Reuters poll of 10 analysts.

($1 = 3.4765 Brazilian reais) (Reporting by Guillermo Parra-Bernal; editing by Jason Neely)