Brazil's Caixa posts sharp drop in Q1 net income

lunes 9 de mayo de 2016 06:47 GYT

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)