Banco do Brasil: profit up 44.7% in 1st quarter, higher than expected





RIO DE JANEIRO, BRAZIL – Banco do Brasil (BBAS3) on Thursday reported higher-than-expected net income, supported by lower provisions for losses with default.

The recurring net income rose to R$4.9 billion (US$930 million), up 44.7% over a year earlier and above the market’s average estimate of R$4.04 billion, according to data from Refinitiv.

The figures come as analysts and investors are eager to hear from CEO Fausto Ribeiro, appointed to run the bank after Andre Brandão resigned in the wake of a dispute with President Jair Bolsonaro over a cost-cutting . . .

Loading...

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed? Login Here



Loading...



Loading...
Previous articleSaudi Arabia suspends poultry meat sales by JBS and 2 other Brazilian companies
Next articleBrazil suspends agricultural subsidized financing; deadlock impacts next harvest
The Rio Times

The Rio Times Staff is a network of freelance journalists and bloggers from all over Latin America who keep us informed about news from their regions. This information is collected, checked and processed in our newsroom.


Loading...

Read original article here

Loading...