Brazil's Banco Bradesco reports 63. 2% rise in second-quarter profit

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SAO PAULO, Aug 3 - Brazil's second largest lender, Banco Bradesco SA, reported on Tuesday a 63.2% rise in its second-quarter profit, mainly on a sharp decline of provisions for bad loans as expected losses amid the coronavirus pandemic have not materialized

Recurring Net Income, which excludes one-off items, came in at 6.319 billion reais, roughly in line with an estimate of 6.454 billion reais compiled by Refinitiv. Return on Equity was 17.6%.