1 MIN. DE LECTURA
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