BTG Pactual beats profit estimate as investment bank surprises

SAO PAULO, Nov 6 (Reuters) - BTG Pactual Group, Brazil's sole listed investment bank, posted on Tuesday third-quarter net income of 793 million reais ($391 million), compared with profit of 231 million reais a year earlier.

The São Paulo-based lender, controlled by Brazilian billionaire financier André Esteves, was expected to earn 713.8 million reais in the quarter, according to the average estimate of five analysts. Profit in the second quarter was 822 million reais.