Banco do Brasil Posts Decline In Q4 Net Income

Banco do Brasil SA (OTC: BDORY) posted a drop in its net income in the fourth quarter.

The bank posted its quarterly earnings at 2.972 billion reais ($1.73 billion), down from 4.002 billion reais, in the year-ago period. However, analysts were expecting a quarterly profit of 2.731 billion reais.

The bank's net income climbed 1.9% versus the third quarter.

Excluding one-time items, Banco do Brasil's quarterly profit dropped to 3.025 billion reais. However, analysts were expecting a recurring profit of 2.731 billion reais

BDORY shares closed at $15.71 yesterday.