Brazil's Caixa posts sharp drop in Q1 net income
BRASILIA May 9 (Reuters) - State-controlled Caixa Econômica Federal, Brazil's largest mortgage lender, reported on Monday a net income of 838 million reais ($239.85 million) in the first quarter, 45.9 percent down from a year earlier.
In a statement, Brasilia-based Caixa said the 12-month average return on equity, a measure of profitability, was at 10.27 percent last quarter.
($1 = 3.4939 Brazilian reais) (Reporting by Priscila Jordão; Writing by Silvio Cascione; Editing by W Simon)
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