Banco do Brasil beats profit estimates; provisions soar
SAO PAULO Feb 25 (Reuters) - State-controlled Banco do Brasil SA, the nation's largest lender by assets, posted on Thursday profit that beat estimates as rising interest and fee income helped offset a surge in loan-loss provisions.
Last quarter, Brasilia-based Banco do Brasil earned 2.648 billion reais ($669 million) in recurring net income, a gauge of profit excluding one-time items, according to a securities filing. The number was above an average estimate of 2.509 billion reais in a Reuters poll of eight analysts.
($1 = 3.9555 Brazilian reais) (Reporting by Guillermo Parra-Bernal)
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