August 8, 2019 / 10:40 AM / 2 months ago

Banco do Brasil posts higher Q2 profit on fees and lower expenses

SAO PAULO, Aug 8 (Reuters) - State-controlled Banco do Brasil SA posted a second-quarter recurring net income of 4.432 billion reais ($1.12 billion), up 36.8% from a year earlier, helped by lower operating expenses and higher fee income.

Recurring net income, which excludes one-time items, also came in 4.6% above analysts’ consensus by Refinitiv.

$1 = 3.97 reais Reporting by Carolina Mandl; Editing by Angus MacSwan

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