Santander Brasil’s net profit rises 27.8% in Q1

SAO PAULO (Reuters) – Lender Santander Brasil on Wednesday reported a first-quarter net profit of 3.86 billion reais ($686.83 million), a 27.8% rise from a year earlier, slightly ahead of market expectations.

Analysts polled by LSEG expected net income to come in at 3.77 billion reais.

($1 = 5.6200 reais)

(Reporting by Gabriel Araujo; Editing by Andrew Heavens)