July 28, 2016 / 10:40 AM / 2 years ago

Brazil's Bradesco misses profit estimate, ups provision forecast

SAO PAULO, July 28 (Reuters) - Banco Bradesco SA missed second-quarter profit estimates and raised the forecast for loan-loss provision expenses this year, as Brazil’s third-biggest listed lender faces a deluge of requests from debt-laden corporate customers to stretch out loan terms.

In a securities filing on Thursday, Bradesco said recurring net income, a gauge of profit that excludes onoe-time items, came in at 4.161 billion reais ($1.28 billion) last quarter, missing the average consensus estimate of 4.213 billion reais compiled by Thomson Reuters.

The Osasco, Brazil-based bank also revised an estimate for loan-loss provision expenses this year to a range between 18 billion reais and 20 billion reais, up from a prior forecast of 16.5 billion reais to 18.5 billion reais first issued in January.

$1 = 3.2591 Brazilian reais Reporting by Guillermo Parra-Bernal

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