SAO PAULO (Reuters) -Brazilian state-run lender Banco do Brasil posted on Thursday a net adjusted profit of 3.8 billion reais ($702.4 million) for the second quarter, down 60.2% from a year earlier and below the 5 billion reais expected in an LSEG poll.

The lender also said it expects adjusted net profit for the year to reach between 21 billion reais and 25 billion reais, after it had placed a previous estimate under review in May.

($1 = 5.4101 reais)