Spain's Bankia Q1 profit more than doubles, misses forecasts

MADRID, April 28 Mon Apr 28, 2014 2:25am EDT

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MADRID, April 28 (Reuters) - Spain's biggest bailed-out lender Bankia on Monday posted a 187-million-euro ($259 million) net profit for the first three months of 2014, more than double what it made a year ago, but below analyst forecasts.

The bank missed the average expectations for a 197-million-euro net income in the period.

Bankia's net interest income (NII), or earnings on loans minus deposit costs, rose 36 percent percent to 698 million euros, but also fell short of analyst forecasts.

Bankia had to be rescued in 2012 after it was crippled by soured property debts. ($1 = 0.7227 euros) (Reporting by Sarah White; editing by Sarah Morris and Keiron Henderson)

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