Santander Brasil beats second-quarter profit estimates

Reuters

(Corrects day of week to Thursday from Wednesday in first paragraph; corrects second paragraph to show recurring net income is profit before, not after, one-time items)

SAO PAULO, July 31 (Reuters) - Banco Santander Brasil SA on Thursday posted second-quarter profit that beat analysts' estimates.

Recurring net income, or profit before one-time items, reached 1.437 billion reais ($641 million) in the quarter, well above the average estimate of 1.280 billion reais in a Reuters poll of four analysts.

Recurring return on equity, a gauge of profitability, was 11.6 percent in the second quarter, compared with 9.7 percent in the poll.

($1 = 2.25 Brazilian reais) (Reporting by Guillermo Parra-Bernal)

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