(Corrects last paragraph to clarify that Banco de Valencia had
not returned ECB LTRO funds)
MADRID Feb 1 Spain's Caixabank, the
banking business of financial services group La Caixa, on Friday
posted a net profit of 230 million euros ($312.2 million) for
2012, down 78.2 percent and below forecasts from analysts polled
The Barcelona-based bank, hit like many of its peers by big
provisions on troubled real estate assets in Spain, said net
interest income last year was 3.87 billion euros, in line with
analyst forecasts of 3.85 billion euros.
Caixabank said its bad loan ratio stood at 8.62 percent at
the end of December.
The bank said that it had returned 4.5 bilion euros in
so-called longer-term refinancing operations or LTROs taken from
the European Central Bank. It added that it had helped Banco de
Valencia, which it bought last year, with 4.5 billion
euros in financing to that it could reduce its ECB funding by
the same amount, though that was not an LTRO repayment.
($1 = 0.7367 euros)
(Reporting by Clare Kane, Editing by Sarah White)