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Santander Brasil beats profit estimates on hefty tax rebate
July 30, 2015 / 10:14 AM / in 2 years

Santander Brasil beats profit estimates on hefty tax rebate

SAO PAULO, July 30 (Reuters) - Banco Santander Brasil SA, the Brazilian subsidiary of Spain’s Banco Santander SA, beat estimates for second-quarter net income on Thursday after booking a large tax rebate.

Net income was 3.881 billion reais ($1.17 billion) in the quarter, way above the 682 million reais estimate in a Reuters poll of ten analysts. Data on recurring net income at Santander Brasil was not immediately available on the bank’s website.

$1 = 3.3262 Brazilian reais Reporting by Guillermo Parra-Bernal

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