Brazil's Bradesco posts first-quarter recurring profit of $1.56 bln

April 24 Thu Apr 24, 2014 4:36am EDT

April 24 (Reuters) - Banco Bradesco SA , Brazil's second-largest non-government lender, posted on Thursday recurring net income of 3.473 billion reais ($1.56 billion) in the first quarter, slightly beating earnings estimates in a Reuters poll of analysts.

Recurring net income, or profit excluding one-off items, rose 8.6 percent when compared with the fourth quarter, and 18 percent on a year-on-year basis, according to a securities filing. The poll of six analysts forecast Bradesco to earn 3.184 billion reais in recurring profit for the quarter.

($1 = 2.22 Brazilian reais) (Reporting by Guillermo Parra-Bernal)

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