February 2, 2018 / 6:59 AM / 6 months ago

Spain's Caixabank Q4 profit falls 70 pct from Q3

MADRID, Feb 2 (Reuters) - Spain’s Caixabank said on Friday its fourth quarter net profit more than doubled against the same quarter last year, thanks to a favourable comparison as it set aside more than 100 million euros ($125 million) to cover mis-sold mortgages in the year-ago period.

However, quarterly net profit fell 70 percent against the third quarter as its Portuguese unit BPI suffered a devaluation in its BFA unit in Angola.

Net profit for the fourth quarter was 196 million euros, below analysts’ forecasts in a Reuters polled estimate of 352 million euros. ($1 = 0.8007 euros) (Reporting By Jesús Aguado; Editing by Sonya Dowsett)

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