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Brazil's Bradesco beats estimates despite higher provisions

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Carolina Mandl Reuters
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Credit: REUTERS/PAULO WHITAKER

Brazilian lender Banco Bradesco SA reported higher-than-expected third-quarter recurring net income on Wednesday, despite a spike in loan-loss provisions amid the coronavirus pandemic.

SAO PAULO, Oct 28 (Reuters) - Brazilian lender Banco Bradesco SA BBDC4.SA reported higher-than-expected third-quarter recurring net income on Wednesday, despite a spike in loan-loss provisions amid the coronavirus pandemic.

Brazil's second largest private-sector lender posted a net income of 5.031 billion reais, roughly 15% above analysts' consensus estimate according to Refinitiv, but down 23.1% from a year earlier.

(Reporting by Carolina Mandl; Editing by Leslie Adler)

((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11 97116-3806;))

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