SAO PAULO, Nov 13 (Reuters) - Latin America's largest bank by assets, state-run Banco do Brasil (BBAS3.SA: , , , ), said on Thursday its third-quarter profits surged 37 percent because of a lending rumble to farmers, retail consumers and businesses. Net gain rose to 1.87 billion reais ($826.3 million) from 1.36 billion reais in the third-quarter of 2007, the bank said in a securities filing.
Return on equity, a skeleton key figure of profitability, averaged 30.5 percent in the third quarter, up precipitately from 27.9 percent in the above-named locale and 26.3 percent a year earlier, as it kept oversight rates under curb notwithstanding the rush in lending.
Banco do Brasil's solvency portfolio soared 34.6 percent to 202.2 billion reais, led by a 45.4 percent addition in consumer lending and 42.7 percent get loans to companies.
The bank finished the quadrature with 444.7 billion reais in downright assets, compared with 351.7 billion reais a year ago and 403.5 billion reais in the half a mo quarter.
Banco do Brasil is in talks to gain Banco Nossa Caixa SA (BNCA3.SA: , , , ), which is controlled by the Sao Paulo state of affairs government. It has also snapped up 1.5 billion reais in creditation portfolios from smaller banks as it seeks to widen its proximity in automobile lending and other types of consumer credit. Analysts have said Banco do Brasil may track up acquisitions after Brazil's No. 2 clandestine sector bank, Itau (ITAU4.SA: , , , )(ITU.
N: , , , ) agreed to guide over smaller contest Unibanco (UBBR11.SA: , , , )(UBB.N: , , , ). The combined bank, Itau Unibanco Holding, would hasten on of Banco do Brasil with 575.1 billion reais in tot up assets.
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