SAO PAULO, Feb 8 (Reuters) - State-controlled lender Banco do Brasil on Thursday forecast its adjusted net profit would grow by up to 12.5% in 2024 compared with the previous year, with new provisions for bad loans expected to be slightly lower than last year's levels.

The bank said it expected its adjusted net income this year to be within the range of 37 billion reais ($7.41 billion) and 40 billion reais, up from 35.56 billion reais reported for 2023.

Its total loan book is expected to grow by between 8% and 12% in 2024, after reporting an expansion of 10.3% in 2023 to 1.11 trillion reais.

Provisions for loans likely to default are seen at between 27 billion reais and 30 billion reais, compared with 30.5 billion reais the lender reported for 2023.

For the three months ended in December, Banco do Brasil reported a 4.8% rise in adjusted net income to 9.44 billion reais, above the 9.12 billion reais average expected by analysts polled by LSEG. ($1 = 4.9920 reais) (Reporting by Peter Frontini; Editing by David Alire Garcia and Jamie Freed)