July 29, 2016 / 5:31 AM / a year ago

Spain's Caixabank profit jumps 34 pct in Q2, beats forecast

MADRID, July 29 (Reuters) - Caixabank, Spain’s third-biggest lender, posted on Friday a 34 percent jump in second-quarter net profit from the previous three months, boosted by higher fees and lower provisions against bad loans.

Caixabank, whose business is focused in Spain unlike its peer BBVA which also reports results on Friday, reported net profit for quarter of 365 million euros ($404 million), above analysts’ forecasts in a Reuters poll.

Net interest income, a measure of earnings on loans minus deposit costs, was 1.02 billion euros for the quarter stable from the January to March period and also slightly beating analysts’ forecast. ($1 = 0.9028 euros) (Reporting by Jesus Aguado and Angus Berwick; Editing by Julien Toyer)

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