Banco do Brasil sees fee income recovering in coming quarters
SAO PAULO May 7 (Reuters) - Fee income at state-run Banco do Brasil SA should gain traction in the coming quarters, Chief Financial Officer Ivan Monteiro said on Wednesday.
Banco do Brasil SA, the nation's largest bank by assets, missed first-quarter profit estimates after fee income declined sharply And fell short of estimates.
Recurring net income, which excludes one-time items, totaled 2.436 billion reais ($1.1 billion), below the 2.512 billion reais estimated in a Reuters poll of five analysts. ($1 = 2.23 Brazilian reais) (Reporting by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe)