SAO PAULO, April 26 (Reuters) - Brazil’s Banco Bradesco SA beat analysts estimates for profit in the first quarter as loan-loss provisions declined amid a gradual recovery in the Brazilian economy.
The country’s second largest private lender on Thursday reported a recurring net income, which excludes one-time items, of 5.102 billion reais ($1.46 billion) in the first quarter, above the average of Thomson Reuters analyst consensus of 4.877 billion reais and 9.8 percent higher than from a year earlier.
$1 = 3.4841 reais Reporting by Carolina Mandl. Editing by Jane Merriman