October 25, 2017 / 10:38 PM / 2 months ago

Santander Brasil beats estimates with 2.5 bln reais Q3 net income

SAO PAULO, Oct 25 (Reuters) - Banco Santander Brasil SA posted 2.58 billion reais ($798 million) profit in the third quarter, beating analyst expectations as the bank’s loan book and fee income rose faster than expected, according to a securities filing on Wednesday.

Net profit rose 11 percent from the prior three months to when adjusted for one-off items, above a consensus estimate of 2.38 billion reais compiled by Thomson Reuters. Provisions for loan losses were 2.4 billion reais, below a consensus estimate of 2.78 billion reais.

Recurring return on equity (ROE), a gauge of profitability, totaled 17.1 percent for the quarter, above a consensus estimate of 14.6 percent. ($1 = 3.2329 reais) (Reporting by Tatiana Bautzer)

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