May 10, 2018 / 10:31 AM / 14 days ago

Banco do Brasil beats profit estimates on lower provisions

SAO PAULO, May 10 (Reuters) - Banco do Brasil SA beat first-quarter profit estimates on Thursday as a fall in defaults led the country’s largest state-controlled bank to post lower loan-loss provisions.

Brasília-based Banco do Brasil earned a net 3.026 billion reais ($841.9 million) excluding one-time items, up 20.3 percent from a year earlier. That was just above analysts’ consensus estimate of 2.973 billion reais compiled by Thomson Reuters.

$1 = 3.59 reais Reporting by Carolina Mandl; Editing by Mark Potter

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