BTG Shares Surge to Record After Profit Tops Expectations

Shares of Banco BTG Pactual SA surged the most in more than five years to an all-time high after the Brazilian bank reported record revenue and profit for the second quarter.

The stock climbed 13% to 45.03 reais, the biggest gain since March 2020, after BTG said net income jumped 42% to 4.18 billion reais ($773 million). Analysts surveyed by Bloomberg had estimated the figure at 3.66 billion reais.