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Spain's Bankinter posts 73 pct rise in 2013 profit
January 22, 2014 / 7:16 AM / 4 years ago

Spain's Bankinter posts 73 pct rise in 2013 profit

MADRID, Jan 22 (Reuters) - Mid-sized Spanish lender Bankinter on Wednesday reported a 73 percent jump in profit for 2013 compared to the year before, largely thanks to lower provisions against losses after it cleaned up soured property assets in 2012.

The bank made a net profit of just over 215 million euros ($291 million) for the year, beating forecasts by analysts in a Reuters poll for a 211.5 million euro profit.

Net interest income, broadly the difference between the bank’s funding costs and what it earns from loans, was down 3.7 percent on 2012 for the whole of last year at 636 million euros, slightly above expectations. ($1 = 0.7383 euros) (Reporting by Sarah White, Editing by Sonya Dowsett)

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