* Bankia H1 net profit 200 mln euros vs forecast 246 mln
* Sabadell, Bankinter report profit rises
* Sabadell sets aside further 321 mln euros in provisions
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By Sarah White
MADRID, July 25 A trio of Spanish banks,
including bailed out lender Bankia, posted big jumps
in first-half profits as trading gains and lower writedowns on
property assets helped a partial recovery from their torrid time
Spanish bank profits were gutted last year by massive losses
on soured real estate assets and a deep recession is still
hurting firms as more borrowers struggle to keep up with loan
payments. Bankia posted a 19.2 billion euro loss last year, the
biggest of any bank globally.
It bounced back with a 200 million euro profit for the first
half of this year. It had been expected to post a 246 million
euro net profit, according to a Reuters poll of four analysts.
The lender said net interest income, or the difference
between income from loans and interest paid on deposits, was 1.1
billion euros, down 36 percent on the first half of 2012.
Mid-sized rivals Sabadell and Bankinter
also on Thursday reported rises in profit from a year ago.
Sabadell set aside an extra 321 million euros ($425 million)
towards provisions related to refinanced loans, some of which it
will have to reclassify as non-performing ones, as instructed by
the Bank of Spain.
The bank posted a 123-million-euro net profit for the first
half of the 2013, beating analyst expectations after big gains
from financial transactions, such as trading operations.
The Bank of Spain recently asked lenders to reclassify more
of their refinanced loans as non-performing ones.
Bankinter's net profit in the first half was 102 million
euros, sharply up from the same period a year ago when it was
hurt by writedowns on rotten property assets.
Spain has been in or close to recession for five years,
largely due to a bursting of a decade-long property bubble. It
needed a 42 billion euro bailout of its banks last year, with
most of the problems among its raft of smaller lenders.
($1 = 0.7555 euros)
(Reporting by Sarah White; Writing by Steve Slater; Editing by
Paul Day and Mark Potter)