May 24, 2018 / 11:43 AM / 3 months ago

Brazil's Caixa Econômica Federal posts $882m net profit in Q1

SAO PAULO, May 24 (Reuters) - State-controlled savings bank Caixa Econômica Federal said on Thursday net profit jumped 114.5 percent in the first quarter, according to a statement.

Net profit totaled 3.2 billion reais ($882.15 million) in the period despite a 2.1 percent drop in Caixa’s loan portfolio to 700.2 billion reais, Brazil’s biggest mortgage lender said. ($1 = 3.6275 reais) (Reporting by Flavia Bohone Writing by Ana Mano Editing by Chizu Nomiyama)

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