SAO PAULO, April 27 Banco Bradesco SA
beat first-quarter profit estimates on Thursday as Brazil's No.
3 listed bank cut loan-loss provisions by more than expected,
offsetting large impairments and lackluster fee and interest
In a securities filing, Bradesco said net income excluding
one-off items, commonly known as recurring profit, totaled 4.648
billion reais ($1.47 billion) last quarter, up 6 percent from
the prior three months.
Analysts expected a consensus forecast of 4.391 billion
reais for first-quarter recurring profit. Recurring return on
equity came in at 18.3 percent, beating a 17.6 percent forecast.
($1 = 3.1722 reais)
(Reporting by Guillermo Parra-Bernal; editing by Richard Lough)