SAO PAULO, April 26 Profits at Banco Santander
Brasil SA hit a record in the first quarter, the
company reported on Wednesday, beating analysts' estimates
after interest income surged and loan-loss provisions dropped
the most in almost five years.
Recurring net income came in at 2.28 billion reais ($725
million), up 15 percent from the prior three months and well
above the average consensus estimate of 1.632 billion reais
compiled by Thomson Reuters.
Recurring return on equity totaled 15.9 percent for the
first quarter, compared with a consensus estimate of 12.5
percent. Santander Brasil, which is controlled by Spain's Banco
Santander, has a target for ROE of 15.6 percent by year
($1 = 3.1470 reais)
(Reporting by Guillermo Parra-Bernal)