April 23, 2020 / 6:27 AM / a month ago

Bankinter's Q1 net profit falls 10% on coronavirus-related provisions

MADRID, April 23 (Reuters) - Spain’s Bankinter said on Thursday its first quarter net profit fell 10.1% from the same period a year earlier on higher provisions to prevent a downturn in business caused by the coronavirus crisis.

The bank booked provisions worth 107.3 million euros ($116.18 million) in the first quarter compared to 55.1 million euros in the same period in 2019, it said.

The country’s fourth-largest bank by market value reported a net profit of 130.3 million euros in the January to March period. Analysts polled by Reuters expected a net profit of 117 million euros. ($1 = 0.9235 euros) (Reporting By Jesús Aguado, Editing by Inti Landauro)

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