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Banco do Brasil sells $545.4 million in loans to BTG Pactual

FILE PHOTO: A woman wearing a protective face mask walks in front of Banco do Brasil (Bank of Brazil) cultural building during the coronavirus disease (COVID-19) outbreak, in Sao Paulo, Brazil, March 24, 2020. REUTERS/Amanda Perobelli

SAO PAULO (Reuters) - Brazilian state-run lender Banco do Brasil SA BBAS3.SA said on Wednesday it has sold a 2.9 billion-real ($545.40 million) non-performing loan portfolio to BTG Pactual SA BPAC3.SA.

In a securities filing, BB said the transaction has an estimated impact of 371 million reais ($69.77 million) in its third-quarter earnings before taxes.

Reporting by Carolina Mandl; Writing by Gabriela Mello; Editing by Sandra Maler

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