Bradesco Q4 Profit Up 5.3%

Brazil's Banco Bradesco SA

reported a 5.3% rise in its fourth-quarter profit. Bradesco's quarterly net income, excluding one-time items, surged to 2.918 billion reais ($1.44 billion). However, analysts were expecting recurring net income of 2.950 billion reais. Bradesco shares closed at $18.82 on Friday.