Bankia Q1 net profit 72 mln euros after record loss in 2012
MADRID, April 24
MADRID, April 24 (Reuters) - Spain's nationalised lender Bankia on Wednesday posted a net profit of 72 million euros ($93.6 million) for the first quarter of the year, marking the first signs of a recovery after a record 19.2 billion euro loss in 2012.
The bank's parent company BFA reported first quarter net profit of 213 million euros, the bank said in a statement.
Bankia, which asked for a 18 billion euro bailout with EU funds last year, said net interest income, a measure of earnings from assets, fell to 512 million euros in the first quarter compared to 844 million euros the first quarter of 2012.
Bankia, which faces big challenges in an economic recession, also said its bad debt ratio rose slightly to 13.1 percent at the end of the first quarter compared to 13 percent at the end of 2012. ($1 = 0.7695 euros) (Reporting By Sarah White ; writing by Paul Day; Editing by Julien Toyer)