Brazil's Bradesco says profit rises in first quarter

SAO PAULO, April 23 (Reuters) - Banco Bradesco , Brazil's second largest non-government bank, reported on Monday net income of 2.793 reais ($1.49 billion) in the first quarter, compared with 2.702 billion reais in the same period of 2011.

Osasco, Brazil-based Bradesco was expected to post net income of 2.844 billion reais in the quarter, according to a Reuters poll of nine analysts.

Recurring net income, or profit excluding one-time items, rose 3.9 percent to 2.845 billion reais in the quarter ended on March 31, according to a securities filing. The bank was expected to earn 2.853 billion reais, according to the poll.