Spain's Caixabank says Q2 net profit doubles from a year ago

MADRID, July 25 Fri Jul 25, 2014 1:21am EDT

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MADRID, July 25 (Reuters) - Spain's Caixabank on Friday said net profit in the second quarter more than doubled to 153 million euros ($206 million) from a year ago, beating forecasts as revenue grew more than expected.

Analysts polled by Reuters had forecast net income of 127 million euros.

Caixabank said net interest income, a measure of earnings on loans minus funding costs, was just over 1 billion euros in the second quarter, up nearly 6 percent on the same period a year ago and mirroring improvements at other Spanish peers.

Barcelona-based Caixabank's first half profit fell 25 percent to 305 million euros, due to an unfavourable comparison with the first quarter of last year when the bank had notched up several one-off gains from acquisitions. ($1 = 0.7426 Euros) (Reporting by Sarah White, Editing by Paul Day)

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