Santander Brasil posts Q1 net profit down 46.6%

Banco Santander Brasil SA

25/04/2023 11:02

SAO PAULO, April 25 (Reuters) - Banco Santander Brasil
SA  SANB3.SA  on Tuesday reported a first quarter net profit of
2.14 billion reais ($425.09 million), down 46.6% from a year
earlier but still above analysts' forecasts of 1.83 billion in a
Refinitiv poll.
    The Brazilian unit of Spain's Banco Santander SA  SAN.MC 
saw loan-loss provisions jump 46.7% year-on-year to 6.76 billion
reais, it said in a securities filing, although slowing down 8%
on a sequential basis after a weak fourth quarter in 2022.
    
    ($1 = 5.0342 reais)

 (Reporting by Gabriel Araujo, Editing by Louise Heavens)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))