August 11, 2017 / 2:02 PM / 11 days ago

Banco do Brasil sees recurring profit at mid-point of forecast

SAO PAULO, Aug 11 (Reuters) - Banco do Brasil SA expects to meet the mid-point of a target for recurring net income this year, as cost and expense control might help the state-controlled lender to offset declining interest income and shrinking loan book disbursements, executives said on Friday.

The Brasilia-based lender is targeting recurring profit between 9.5 billion reais and 12.5 billion reais ($3 billion and $3.9 billion) this year. A focus on small corporate loans could help Banco do Brasil increase lending spreads throughout the year, mitigating the burden of lower domestic interest rates, Chief Financial Officer Alberto Queiroz said.

Banco do Brasil officials spoke during a conference call to discuss second-quarter results.

$1 = 3.1766 reais Reporting by Guillermo Parra-Bernal; Editing by Bernadette Baum

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