(Adds detail on fees, loan book)
SAO PAULO, May 9 (Reuters) – Latin America’s largest investment bank Banco BTG Pactual SA posted a 9.2 percent rise in first-quarter recurring profit on Thursday helped by fees in investment banking and asset management.
Recurring net income, which excludes one-time items, rose to 721 million from 660 million reais ($168.05 million) a year earlier.
Revenue in the investment banking unit grew by 59.3 percent to 175 million reais although the number of deals fell, BTG said in a securities filing.
Profit was also helped by fees in asset and wealth management which rose 30.1 percent to 298 million reais as the bank continued to draw more money from clients. Net new money reached 7.3 billion reais, the bank