SAO PAULO, April 29 Itaú Unibanco Holding SA
, Brazil's largest bank by market value,
posted first-quarter recurring net income of 4.529 billion reais
($2.02 billion), slightly below expectations, as interest income
fell for the first quarter in four quarters.
The São Paulo-based bank was expected to post recurring
profit, or profit excluding one-time items, of 4.544 billion
reais, according to the average estimate of seven analysts in a
Reuters poll. Recurring return on equity, or a gauge of
profitability in the banking industry, reached 22.6 pct, the
bank said in a securities filing. The number was above the
poll's 21.8 percent estimate.
($1 = 2.24 Brazilian reais)
(Reporting by Guillermo Parra-Bernal)