Santander Brasil beats profit estimates as provisions slump

Reuters

SAO PAULO, Jan 30 (Reuters) - Banco Santander Brasil SA on Thursday posted recurring net income of 1.41 billion reais ($577 million) in the fourth quarter, beating earnings estimates in a Thomson Reuters poll.

Recurring net income, or profit excluding one-off items, was up 0.1 percent compared with the third quarter but down 12.3 percent on an annual basis, according to a securities filing. The poll of eight analysts predicted average recurring profit of 1.329 billion reais for the quarter.

Santander Brasil is the Brazilian subsidiary of Spain's Banco Santander SA, which also released foruth-quarter results on Thursday.

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