October 26, 2017 / 1:06 PM / 9 months ago

Santander Brasil posts 17.1 percent ROE, significantly above guidance

BRASILIA/SAO PAULO, Oct 26 (Reuters) - Banco Santander Brasil SA has beat its target for return over equity significantly this quarter, Chief Financial Officer Angel Santodomingo told analysts on Thursday.

The Brazilian unit of Spain’s Banco Santander SA posted a 17.1 ROE on the third quarter, above the 15.8 percent target set for 2018, with its loan book growing faster than expected as Latin America’s largest economy starts growing again after a harsh recession. Preferred shares are up 0.8 percent, at 13.21 reais on Thursday morning, extending this year’s gains to 42.5 percent. (Reporting by Bruno Federowski and Tatiana Bautzer; Editing by Chizu Nomiyama)

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