Reuters logo
Spain's Bankia says H1 net profit doubles, beats forecasts
July 28, 2014 / 6:32 AM / in 3 years

Spain's Bankia says H1 net profit doubles, beats forecasts

MADRID, July 28 (Reuters) - Spanish bailed-out lender Bankia on Monday said its first half net profit more than doubled from a year ago to 432 million euros ($580 million), beating forecasts as bad debts fell slightly and lending revenue rose.

The bank, which is about 60 percent owned by the government, was expected to post a 399-million-euro profit in the period according to a Reuters poll.

Net interest income, what the bank makes on loans minus funding costs, was 1.43 billion euros in the first half, up 31 percent on the year-ago period.

Bankia’s second quarter net profit came in at 245 million euros, also above analysts’ expectations of 212 million euros. ($1 = 0.7445 Euros) (Reporting by Sarah White, Editing by Paul Day)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below