27 de enero de 2016 / 9:34 / en 2 años

Santander Brasil beats profit estimates; provisions soar

SAO PAULO, Jan 27 (Reuters) - Profit at Banco Santander Brasil SA beat estimates in the fourth quarter, as the impact of a surprising tax credit more than offset a surge in loan-loss provisions and declining interest income at the nation’s No. 3 private-sector lender.

Recurring net income, a measure of profit excluding one-time items, totaled 1.607 billion reais ($395 million) last quarter, down 5.9 percent from the prior three months, according to a statement. A Reuters poll of seven analysts expected recurring profit of 1.560 billion reais.

Loan-loss provisions, or the money that Santander Brasil set aside to cover loan-related losses, jumped almost 13 percent to 2.762 billion reais, the sharpest quarterly increase in 3 1/2 years.

$1 = 4.0654 Brazilian reais Reporting by Guillermo Parra-Bernal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below