SAO PAULO, Jan 26 (Reuters) - Banco Santander Brasil SA reported a better than expected fourth-quarter profit on Thursday, reflecting a jump in fee income and declining loan-loss provisions.
Recurring net income came in at 1.989 billion reais ($628 million), above the average of analysts’ estimates of 1.613 billion reais according to Thomson Reuters data.
The bank expects return on equity to reach 15.6 percent by the end of next year. In the fourth quarter, ROE was 13.9 percent. ($1 = 3.1697 reais) (Reporting by Guillermo Parra-Bernal; Editing by Greg Mahlich)