April 23, 2020 / 8:32 AM / a month ago

BRIEF-Spain's Bankinter CFO Says Spin-off LDA Insurance Business Could Be Delayed Until Q1 2021

April 23 (Reuters) - Spain’s Bankinter Chief Financial Officer, Jacobo Diaz, says:

* Still expects spin-off of its insurance unit LDA to go ahead

* Plans to spin off LDA insurance business could be delayed until first quarter of 2021 due to current “circumstances”

* “In terms of calendar, we were targeting the last quarter of last year, obviously due to circumstances this may be delayed, we don’t know exactly how long, but it could be for the first quarter of the following year,” he said.

* Expects mortgage, consumer business to “clearly” slow down in second quarter, before seeing some kind of recovery in mortgage business in second half of year

* Still expects positive growth in loan book overall in 2020

* Says has been taken up more than 2 billion euros in funding credit lines from state agency ICO Further company coverage: (Reporting By Madrid Newsroom)

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