Santander Brasil Forecast to Post 30.6% Q3 Profit Decline

Genial Investimentos forecasts Santander Brasil will post recurring managerial net profit of R$2.783 billion in Q3, down 30.6% year over year and 7.7% from Q2. The estimate is 6% below analyst consensus of R$2.962 billion, based on nine estimates. Santander Brasil recorded recurring managerial net profit of R$3.014 billion in Q2, down 17.6% from a year earlier. Genial projects total revenue will decline 0.2% from Q2 and 0.6% year over year. It forecasts return on equity at 11.5%, down 104 basis points from the previous quarter, and client net interest income 0.9% lower than in Q2.

Source: TokenPost