Spain's Caixabank second-quarter net profit falls 85% due to restructuring costs
Reuters
Published Jul 26, 2019 06:41
Spain's Caixabank second-quarter net profit falls 85% due to restructuring costs
MADRID (Reuters) - Spain's Caixabank (MC:CABK) posted on Friday a decline of 85% in second quarter net profit to 89 million euros ( £79.7 million ) due to one-off restructuring costs while lending income slightly rose thanks to lower funding costs.
Net interest income -- a measure of earnings on loans minus deposit costs --, was up 0.9% in the second quarter against the same quarter last year to 1.24 billion euros. Analysts had forecast a NII of 1.25 billion euros.
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Written By: Reuters
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