CAIXY Caixabank (PK)

   By Pietro Lombardi 
 

Shares in CaixaBank SA (CABK.MC) fell in early trade Friday after the bank's fourth-quarter results missed analysts' expectations.

Net profit for the period rose almost 11% on year to 217 million euros ($249.1 million), undershooting analysts' expectations of a EUR335 million net profit, according to a consensus forecast provided by the bank.

Caixa shares traded 5.4% lower at 0817 GMT.

"All in, this was a weak set of results," Goldman Sachs said

Net interest income--the difference between what lenders earn from loans and pay for deposits, and a key profit driver for retail banks--was EUR1.24 billion, up from the EUR1.20 billion it reported in the same period last year.

CaixaBank declared a dividend of EUR0.10 a share to be paid in April. This brings total shareholder remuneration for the year up to EUR0.17 a share, the bank said.

Nathan Allen contributed to this story.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

February 01, 2019 03:49 ET (08:49 GMT)

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