February 13, 2020 / 10:26 AM / in 11 days

Banco do Brasil's profit jumps on consumer lending, lower tax

SAO PAULO, Feb 13 (Reuters) - Brazilian state-controlled lender Banco do Brasil SA posted on Thursday a 20.3% rise in fourth-quarter profit helped by higher consumer lending and lower tax expenses.

Recurring net income, which excludes one-time items, went up to 4.625 billion reais ($1.06 billion) from 3.845 billion reais a year earlier, roughly in line with a Refinitiv estimate.

$1 = 4.3558 reais Reporting by Carolina Mandl; Editing by Edmund Blair

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