SAO PAULO, Nov 1 (Reuters) - Banco Bradesco SA, Brazil’s No. 3 listed bank, on Wednesday beat net income forecasts as lower loan-loss provisions offset a contraction in its loan book.
Net income excluding one-off items totaled 4.810 billion reais ($1.5 billion), Bradesco said in a securities filing, up 2.3 percent from the second quarter and above a consensus forecast of 4.544 billion reais compiled by Reuters.
When including non-recurring events, net income fell to 2.884 billion reais, mostly due to expenses related to a voluntary employee buyout program. ($1 = 3.2709 reais) (Reporting by Bruno Federowski, editing by Louise Heavens)