Brazil's Bradesco slightly beats fourth-quarter profit estimates

SAO PAULO Thu Jan 30, 2014 2:26am EST

SAO PAULO Jan 30 (Reuters) - Banco Bradesco SA , Brazil's second-largest non-government lender, posted on Wednesday recurring net income of 3.199 billion reais ($1.31 billion) in the fourth quarter, slightly beating earnings estimates in a Thomson Reuters poll of analysts.

Recurring net income, or profit excluding one-off items, rose 3.8 percent when compared with the third quarter, and 9.6 percent on a year-on-year basis, according to a securities filing. The poll of eight analysts had predicted recurring profit of 3.184 billion reais at Bradesco for the quarter.

In 2013, the bank earned 12.202 billion reais in recurring net income, or the equivalent of 2.91 reais per share, the filing added.