13 de agosto de 2015 / 10:20 / en 2 años

Banco do Brasil beats profit estimates as provisions fall

SAO PAULO, Aug 13 (Reuters) - State-controlled Banco do Brasil SA beat second-quarter profit estimates on Thursday after management cut loan-loss provisions in the face of a decline in interest income and higher taxes.

Brasilia-based Banco do Brasil, the nation’s largest bank by assets, earned net income before one-time items of 3.04 billion reais ($875 million) last quarter, compared with an estimated recurring profit of 2.98 billion reais in a Reuters poll of 10 analysts.

$1 = 3.4765 Brazilian reais Reporting by Guillermo Parra-Bernal; editing by Jason Neely

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