Bankinter's nine-month profit doubles on lower provisions

MADRID Thu Oct 24, 2013 2:33am EDT

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MADRID Oct 24 (Reuters) - Spanish lender Bankinter on Thursday said net profit for the first nine months of the year had more than doubled to 156 million euros ($215 million), beating analysts expectations.

The bank made a 72 million euro profit in the same period a year ago, when like many Spanish peers it had to set aside provisions against soured property deals.

Bankinter said net interest income, or earnings from loans minus deposit payouts, fell 10 percent to 462 million euros while its bad loan ratio reached 4.99 percent at the end of September, well below the sector average. ($1 = 0.7256 euros) (Reporting by Sarah White; Editing by Julien Toyer)

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