7 de agosto de 2017 / 11:08 / en 3 meses

Brazil's BB Seguridade cuts guidance after profit miss

SAO PAULO, Aug 7 (Reuters) - BB Seguridade Participações SA, the insurance unit of state-controlled Banco do Brasil SA, cut estimates for net income growth this year after missing second-quarter profit estimates in the face of a slow recovery and rising unemployment.

Brasilia-based BB Seguridade expects net income to shrink between 1 percent and 5 percent this year, compared with prior guidance of an expansion of 1 percent to 5 percent. Recurring net income came in at 956.3 million reais ($305 million) last quarter, down from a consensus estimate of 1.025 billion reais compiled by Thomson Reuters.

$1 = 3.1307 reais Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama

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