November 1, 2018 / 10:08 AM / 14 days ago

UPDATE 1-Brazil's Banco Bradesco Q3 profit rises but just misses estimates

(Adds details from results)

SAO PAULO, Nov 1 (Reuters) - Brazil's second largest private lender Banco Bradesco SA reported on Thursday a 13.7 percent rise in third-quarter profit over a year earlier as loan-loss provisions declined, but it just missed analysts estimates.

Recurring net income at Banco Bradesco came in at 5.471 billion reais ($1.47 billion) in the third quarter, 0.7 percent below the Refinitiv average estimate by analysts of 5.508 billion reais.

But the bank beat analysts' estimates for return on equity, which came in at 19 percent, almost 0.5 percentage points above consensus.

Bradesco said in a securities filing that loan-loss provisions were 3.512 billion reais in the third quarter, 23.3 percent lower year on year, amid a gradual recovery in Brazil's economy.

However, losses slightly increased by 2.2 percent in comparison with the previous quarter due to restructured corporate loans totaling 920 million reais.

The delinquency ratio over 90 days was at 3.63 percent, almost in line with the previous quarter.

Bradesco's expanded loan book reached 523.5 billion reais, up 1.5 percent in the quarter, helped by individuals and small and medium companies for another quarter.

The Osasco-based bank posted a Tier 1 capital ratio of 12.2 percent, up 0.8 percent from the previous quarter.

$1 = 3.7219 reais Reporting by Carolina Mandl Editing by Edmund Blair

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