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Caixabank 2013 profit more than doubles as charges drop
January 31, 2014 / 6:17 AM / 4 years ago

Caixabank 2013 profit more than doubles as charges drop

MADRID, Jan 31 (Reuters) - Spain’s third-biggest bank Caixabank on Friday posted a net profit of 503 million euros ($682 million) for 2013, more than double 2012 earnings as charges on soured property deals fell.

The bank missed analyst forecasts as it was predicted to post a 543 million euro profit for the period, according to a Reuters poll.

Barcelona-based Caixabank said net interest income, or earnings from loans minus funding costs, rose 2.1 percent to 3.9 billion euros, in line with forecasts.

It reported a net profit of 45 million euros in the fourth quarter of 2013, down around a fifth from the same period a year ago and below Reuters polled forecasts for a profit of 89 million euros. ($1 = 0.7373 euros) (Reporting by Sarah White, Editing by Sonya Dowsett)

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