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First half profit at Spain's Bankinter jumps more than fourfold
July 25, 2013 / 6:02 AM / 4 years ago

First half profit at Spain's Bankinter jumps more than fourfold

MADRID, July 25 (Reuters) - Spanish lender Bankinter on Thursday said net profit in the first half was 102.3 million euros ($135.41 million), a sharp jump from the same period a year ago when it was hurt by writedowns on rotten property assets.

Profit increased more than fourfold, and beat analyst expectations of a 96 million euro net profit in a Reuters poll.

Net interest income, a measure of lending income, was also higher than analysts had forecast, though fell nearly 15 percent from a year ago to 288.4 million euros as low interest rates squeezed margins. ($1 = 0.7555 euros) (Reporting by Sarah White, Editing by Paul Day)

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