February 1, 2019 / 6:38 AM / 6 months ago

Spain's Caixabank 2018 net profit up 17.8 percent year-on-year

FILE PHOTO - CaixaBank's logo is seen at the company's headquarters in Barcelona, Spain, April 18, 2016. REUTERS/Albert Gea

MADRID (Reuters) - Spain’s Caixabank posted on Friday a 17.8 percent rise in 2018 net profit from a year earlier, boosted by higher net interest income.

Caixabank, Spain’s third largest bank, said net profit reached 1.99 billion euros ($2.28 billion), up from 1.68 billion euros a year earlier.

Net interest income, a measure of earnings on loans minus deposit costs, rose 3.4 percent to 4.91 billion euros.

Reporting By Axel Bugge; Editing by Paul Day

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