Brazil's Itaú beats profit estimates as provisions fall
SAO PAULO, Feb 7 (Reuters) - Itaú Unibanco Holding SA beat fourth-quarter profit estimates on Tuesday as declining loan defaults and stronger interest and fee income allowed Brazil's No. 1 bank by market value to trim loan-loss provisions.
Recurring net income, a measure of profit excluding one-time items, rose 4 percent from the third quarter to 5.817 billion reais ($1.87 billion) and topped an average analysts consensus estimate of 5.762 billion reais compiled by Thomson Reuters.
($1 = 3.1150 reais) (Reporting by Guillermo Parra-Bernal; editing by Jason Neely)
Terms and Privacy Policy