July 27, 2018 / 5:23 AM / 2 months ago

Spain's Caixabank Q2 net profit up 36 pct on lower provisions

MADRID, July 27 (Reuters) - Spain’s Caixabank CABK.MC posted on Friday a 36 percent rise in second-quarter net profit from a year earlier thanks to lower loan-loss provisions and a recovery in lending income.

Caixabank, Spain’s third largest bank, reported net profit of 594 million euros ($691.53 million) in the period April to June, above an average of analysts’ forecasts in a Reuters poll of 533 million euros.

Net interest income, a measure of earnings on loans minus deposit costs, was 1.23 billion euros in the second quarter, up 2.8 percent from a year ago. NII was in line with analysts’ forecasts.

$1 = 0.8590 euros Reporting By Jesús Aguado; Editing by Paul Day

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