Brazil's Itaú beats recurring profit estimates in first quarter

SAO PAULO, April 30 Tue Apr 30, 2013 6:19am EDT

SAO PAULO, April 30 (Reuters) - Itaú Unibanco Holding SA , Brazil's largest bank by market value, reported a slight gain in profit in the first quarter, according to a securities filing published on Tuesday.

The São Paulo-based banking giant earned recurring net income of 3.512 billion reais ($1.74 billion reais) in the quarter, 0.3 percent more than in the prior three months. A Thomson Reuters poll of 11 analysts expected recurring net income, or a measure of profit excluding one-off items, at 3.45 billion reais.

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