Banco do Brasil beats estimates for Q3 profit

SAO PAULO, Nov 9 (Reuters) – Brazilian state lender Banco do Brasil SA (BBAS3.SA) on Wednesday hiked its full-year profit outlook on the back of bigger-than-expected quarterly earnings, helped by higher interest income on a bigger loan book.Banco do Brasil now expects its 2022 profit to reach between 30.5 billion and 32.5 billion reais ($5.9 billion-$6.3 billion), up from a previous range of 27 billion to 30 billion reais.It said its loan book should grow some 15%-17% this year, from a previous forecast of 12%-16%. Over the third quarter, its loan book grew 19% over the same period last year to 969.2 billion reais.The lender’s …
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