Brasília, 26 (Agência Brasil - ABr) - Banco do Brasil reports that it had profits of R$1.082 billion (US$450 million) in 2001, an increase of 11%, compared to 2000. Q4 profits were R$332 million (US$138.7 million).

Payroll outlays in 2001, compared to 2000, were reduced by 0.9%. However, there was an increase of 7.7% in administrative costs, which rose, according to the bank, due to improved client services.(AB)