April 25, 2018 / 12:32 AM / a month ago

Banco Santander Brasil beats Q1 earnings estimates

SAO PAULO, April 24 (Reuters) - Banco Santander Brasil SA beat analysts’ first-quarter estimates for profit on Tuesday as the bank recorded another quarter of strong growth in its loan book for individuals, as the country’s economy recovers from recession.

The Brazilian unit of Spain’s Banco Santander SA posted a recurring net income of 2.859 billion reais ($823.21 million), up 25.4 percent from a year earlier and nearly 9 percent above the average estimate by analysts. The bank’s loan book grew 2.9 percent in the quarter and reached 280.4 billion reais. ($1 = 3.4730 reais) (Reporting by Carolina Mandl Editing by Leslie Adler)

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