SAO PAULO, Nov 11 (Reuters) - Brazilian lender BTG

Pactual reported better-than-expected third-quarter

results, expanding its net income despite tight financial

conditions, a securities filing showed on Tuesday.

WHY IT'S IMPORTANT

BTG Pactual is Latin America's largest investment bank. The

bank's asset management division reached an all-time high in

revenues in the July-September period, totaling 747.5 million

reais, according to the company, while wealth under management

increased 32.5% from a year ago.

BY THE NUMBERS

The lender reported a third-quarter adjusted net income of

4.54 billion reais ($840.13 million), up 42% from the previous

year, and above the 4.02 billion reais estimated in an LSEG

poll.

Total revenue came in at 8.82 billion reais, a 37%

year-on-year increase, also exceeding the 8.08 billion reais

forecast by the poll. Adjusted return on average equity (ROAE),

a gauge of profitability, stood at 28.1%, up from 23.5% a year

earlier.

KEY QUOTES

"Even in a prolonged high-interest-rate environment, we

continue to capture market share across both the private and

high-income retail segments, demonstrating our ability to

sustain robust net new money," BTG said in the report.

MARKET REACTION

Analysts at JPMorgan described BTG's results as "another

strong quarter", and highlighted the bank's strong franchise and

execution.

($1 = 5.4039 reais)

($1 = 5.4039 reais)