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Profit at BTG Pactual rises as trading income soars
May 10, 2017 / 12:18 AM / 6 months ago

Profit at BTG Pactual rises as trading income soars

SAO PAULO, May 9 (Reuters) - Profit at Grupo BTG Pactual SA rose in the first quarter as sales and trading income more than doubled, helping Latin America’s largest investment banking firm offset the impact of rising bonus expenses and lower interest income.

In a Tuesday securities filing, São Paulo-based BTG Pactual said net income totaled 720 million reais ($226 million) last quarter, up 10 percent from the prior three months. Return on equity climbed to 18.7 percent, the highest in a year, the filing said.

$1 = 3.1898 reais Reporting by Guillermo Parra-Bernal; Editing by Sandra Maler

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