Banking - Brazil

Lower provision expenses, higher fee income boost Q2 profits at Brazil's Banrisul

Lower provision expenses, higher fee income boost Q2 profits at Brazil's Banrisul

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Brazilian lender Banrisul increased its second quarter net income 4.8% year-on-year to 215mn reais (US$93.3mn), the Rio Grande do Sul state bank said in its latest earnings release.

Banrisul said that the net income increase was due to a reduction in provision expenses and higher revenue from services and fees.

The bank's ROE decreased marginally to 19% in 2Q13 from 19.3% in 2Q12...

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