SAO PAULO Feb 13 State-run Banco do Brasil SA
, Brazil's largest bank by assets, missed
fourth-quarter profit estimates after provisions and operating
expenses surged and net interest income fell, according to a
securities filing on Thursday.
Recurring net income, or profit excluding one-time items,
reached 2.424 billion reais ($1 billion) in the quarter, down
7.1 percent from the third quarter and 23.8 percent from the
same period of 2012, the filing said.
A Reuters poll of eight analysts forecast recurring profit
of 2.606 billion reais in average for the quarter. Recurring
return on equity, a gauge of profitability among banks, reached
14.2 percent in the quarter, below the poll's 15.7 percent