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Spain's Banco Popular H1 net profit drops 3 pct, beats forecasts
July 26, 2013 / 6:32 AM / 4 years ago

Spain's Banco Popular H1 net profit drops 3 pct, beats forecasts

MADRID, July 26 (Reuters) - Spain’s fifth-biggest lender, Banco Popular, on Friday said net profit in the first six months of 2013 fell 3 percent to 170.4 million euros ($225.5 million), beating analyst expectations.

The bank posted net interest income, a measure of lending income, of 1.25 billion euros for the period, down 12.8 percent on the first half of 2012.

It ratio of non-performing loans rose to 10.84 percent at the end of June from 9.94 percent at the end of March. ($1 = 0.7555 euros) (Reporting By Sarah White; Writing by Paul Day)

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