Spain's Caixabank Q1 net profit jumps to 335 mln euros

MADRID, April 25 Thu Apr 25, 2013 2:08am EDT

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MADRID, April 25 (Reuters) - Spain's biggest domestic lender Caixabank on Thursday said its net profit jumped by 700 percent to 335 million euros ($435 million), boosted by purchases of smaller banks Banca Civica and Banco de Valencia which had a positive accounting impact.

The bank also said its net interest income rose 12.3 percent to 992 million euros from a year ago. Its non-performing loans also rose to 9.4 percent at the end of March from 8.62 percent at the end of December.

Caixabank returned 4.5 billion euros of cheap ECB loans in the first quarter, while newly-integrated Banco de Valencia returned 4.8 billion euros, the lender said in a statement. ($1 = 0.7695 euros) (Reporting by Sarah White, editing by Julien Toyer)

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