April 26, 2018 / 8:58 AM / 3 months ago

Brazil's Banco Bradesco beats Q1 earnings estimates

SAO PAULO, April 26 (Reuters) - Brazil’s Banco Bradesco SA beat analysts estimates for profit in the first quarter as loan-loss provisions declined amid a gradual recovery in the Brazilian economy.

The country’s second largest private lender on Thursday reported a recurring net income, which excludes one-time items, of 5.102 billion reais ($1.46 billion) in the first quarter, above the average of Thomson Reuters analyst consensus of 4.877 billion reais and 9.8 percent higher than from a year earlier.

$1 = 3.4841 reais Reporting by Carolina Mandl. Editing by Jane Merriman

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