February 25, 2019 / 10:02 AM / 3 months ago

Brazil's BTG Pactual reports lower profit as expenses go up

SAO PAULO, Feb 25 (Reuters) - Brazil's Banco BTG Pactual SA reported a 4.4 percent drop in the fourth-quarter recurring profit on Monday, as expenses went up and offset higher revenues.

Recurring net income, which excludes one-time items, came in at 711 million reais ($189.77 million) versus 744 million reais a year earlier at Latin America's largest independent investment bank. ($1 = 3.7466 reais) (Reporting by Carolina Mandl, editing by Louise Heavens)

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