CaixaBank 3Q Net Profit Rose, Net Interest Income Was Flat
31 October 2019 - 6:19PM
Dow Jones News
By Pietro Lombardi and Carlo Martuscelli
CaixaBank SA (CABK.MC) said Thursday that third-quarter net
profit rose while net interest income was flat in the third
quarter.
Net profit for the period was 644 million euros ($716.1 million)
compared with EUR470 million a year earlier, the Spanish bank said.
Results for the third quarter of last year included a charge
related to the sale of its stake in Repsol SA (REP.MC).
Gross income was EUR2.17 billion, down from EUR2.25 billion in
the third quarter of 2018.
Analysts had expected a net profit of EUR564 million and gross
income of EUR1.23 billion, according to a consensus provided by the
bank.
Net interest income--the difference between what lenders earn
from loans and pay for deposits, and a key profit driver for retail
banks--was unchanged at EUR1.24 billion
CaixaBank's core Tier 1 ratio, a key measure of capital
strength, was 11.4% at the end of September from 11.6% in June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
October 31, 2019 03:04 ET (07:04 GMT)
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