Banco do Brasil beats profit estimates; provisions soar

jueves 25 de febrero de 2016 06:12 GYT
 

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)