January 28, 2019 / 6:44 AM / 9 months ago

Spain's Bankia Q4 registers net loss of 40 mln eur

MADRID, Jan 28 (Reuters) - Spain’s Bankia said on Monday net profit rose 39.4 percent in 2018 from a year earlier, despite posting a 40-million-euro ($45.6 million) net loss in the fourth-quarter on the back of the sale of 3 billion euros of toxic assets.

Last year, the state-owned lender Bankia registered a net profit of 703 million euros, up from 505 million euros in 2017, boosted by higher commissions and trading income and despite ongoing pressure on lending.

Bankia’s net interest income, a measure of earnings on loans minus deposit costs, rose to 507 million euros in the fourth quarter from 495 million euros a quarter earlier, the bank said.

$1 = 0.8764 euros Reporting by Carlos Ruano; Writing by Paul Day; Editing by Axel Bugge

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