November 8, 2017 / 2:20 PM / in a month

Brazil's BTG Pactual expects 20 pct return on equity in mid-term

SAO PAULO, Nov 8 (Reuters) - Brazilian Grupo BTG Pactual SA should recover an average return on equity of 20 percent in the medium term, head of investor relations João Dantas told analysts on Wednesday.

Latin America’s largest independent investment bank posted 16.5 percent return on equity in the third quarter, as sales and trading revenue rose. Dantas also said the bank expects better market conditions to allow more asset sales in coming quarters. (Reporting by Aluisio Alves; Writing by Tatiana Bautzer; Editing by Chizu Nomiyama)

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