November 8, 2016 / 11:58 PM / 2 years ago

Brazil's BTG Pactual profit slides, misses forecast on downsizing

SAO PAULO, Nov 8 (Reuters) - Grupo BTG Pactual SA on Tuesday said profit in the latest quarter tumbled 56 percent from a year earlier, its steepest slide on record, as the Brazilian investment bank spun off a commodities sales and trading unit and sold a Swiss private banking unit.

São Paulo-based BTG Pactual earned 661 million reais ($209 million) in net income last quarter, down 30 percent from the previous quarter. It was the lowest profit in three years and missed the average consensus estimate of 967 million reais complied by Thomson Reuters.

Management plans to discuss results on Wednesday at a conference call with investors. ($1 = 3.1680 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by David Gregorio)

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