Brazil's BTG posts higher Q1 earnings
Brazilian investment bank BTG Pactual saw its net profits expand 12.5% in the first quarter thanks to an increase in revenues.
Net profits totaled 675mn reais (US$173mn) in January-March, up from 600mn reais in the year-ago period.
Total revenues rose to 1.48bn reais from 1.31bn reais in 1Q18, the bank said in a results statement.
Revenues from investment banking operations, corporate lending, and asset management, were up 59%, 9% and 34%, respectively, and offset a revenue contraction of 21% in sales and trading activity.
BTG saw its corporate loan book increase 36% to 30.8bn reais at the end of March.
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