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Banco do Brasil beats profit estimate as revenue jumps
February 21, 2013 / 10:20 AM / 5 years ago

Banco do Brasil beats profit estimate as revenue jumps

SAO PAULO, Feb 21 (Reuters) - Banco do Brasil SA beat fourth-quarter profit estimates on Thursday, as Brazil’s largest bank by assets boost revenue and kept expenses under control amid a surge in loan disbursements.

Recurring net income, or a measure of profit that excludes one-time items, rose 20 percent to 3.180 billion reais ($1.6 billion) from the prior quarter, according to a securities filing. A Thomson Reuters poll of four analysts had predicted recurring profit of 2.464 billion reais for the fourth quarter.

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