Banco do Brasil misses profit estimate as provisions jump
SAO PAULO Nov 12 (Reuters) - State-controlled Banco do Brasil SA, the nation's largest lender by assets, posted on Thursday third-quarter profit that missed estimates as surging loan-loss provisions and deteriorating loan book quality offset rising interest and fee income.
Last quarter, Brasilia-based Banco do Brasil earned 2.881 billion reais ($766 million) in recurring net income, a gauge of profit excluding one-time items, according to a securities filing. The number was below an average estimate of 3.017 billion reais in a Reuters poll of seven analysts.
(Reporting by Guillermo Parra-Bernal)
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