Banco do Brasil misses profit estimates as defaults jump
SAO PAULO Aug 11 (Reuters) - State-controlled Banco do Brasil SA, the nation's largest bank by assets, missed second-quarter profit estimates and cut forecasts for loan disbursements growth this year on Thursday, after delinquencies spiked and loan-loss provisions remained high.
Brasilia-based Banco do Brasil earned a total 1.801 billion reais ($577 million) in recurring net income last quarter, 40 percent more than in the prior three months.
Still, the number came in at below the average consensus estimate of 2.117 billion reais compiled by Thomson Reuters from analysts.
($1 = 3.1233 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Gareth Jones)
© Thomson Reuters 2017 All rights reserved.