In This Article:
(Adds revenue, loan book and influx to funds)
SAO PAULO, Aug 7 (Reuters) - Profit at Brazil's largest independent investment bank Banco BTG Pactual SA increased 13.6 percent in the second quarter from a year earlier, helped by higher revenue in most of its business units, the company said on Tuesday.
The São Paulo-based bank reported recurring net income, which excludes one-time items, of 685 million reais ($182.57 million).
Revenue at BTG Pactual went up by 46 percent year-over-year and totaled 1.238 billion reais in the second quarter, boosted by higher fees in fund management and investment banking.
In a securities filing, the bank said the net influx of money into asset and wealth management continued to increase, reaching 10.7 billion reais in the quarter.
BTG Pactual said its annualized return on equity, a measure of profitability, was 14.5 percent in the second quarter, up 0.3 percentage points in the quarter.
The bank's loan book reached 26.1 billion reais, up 15.7 percent from the previous quarter. In May, Chief Executive Roberto Sallouti said rising inflows into deposits would allow the bank to accelerate the expansion of loans.
Management will discuss results in a conference call with analysts on Wednesday.
The future role of BTG's founder André Esteves at Brazil's top independent investment bank is likely to be in focus as he was acquitted from corruption charges last month. ($1 = 3.7519 reais) (Reporting by Carolina Mandl; Editing by Sandra Maler)