October 26, 2016 / 9:07 AM / in a year

Santander Brasil beats estimate; provisions jump unexpectedly

SAO PAULO, Oct 26 (Reuters) - Banco Santander Brasil SA , the nation’s biggest foreign lender, beat third-quarter profit estimates on WEdnesday as aggressive loan repricing and rising fee income helped offset the impact of an unexepected jump in loan-loss provisions.

Santander Brasil, the Brazilian subsidiary of Spain’s Banco Santander SA earned 1.883 billion reais ($605 million)in recurring net income, well above the consensus estimate of 1.462 billion reais compiled by Thomson Reuters. Recurring income, or a gauge of profit excluding one-off items, was up 4 percent from the prior three months.

Management plans to discuss third-quarter results at several conference calls later in the day.

$1 = 3.1115 reais Reporting by Guillermo Parra-Bernal

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