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Spain's Caja Madrid 9 mths net falls 63 pct

Source: Reuters - Mon 18th Oct 2010

The savings bank, which is in the midst of a merger to create Spain's third largest banking group, said bad loans roseto 5.43 percent at end-September from 5.39 percent at end-June.

Net profit fell to 231.6 million euros, while net interest revenue dropped 30.1 percent to 1.412 billion euros.

Spain's unlisted savings banks, hit badly by the country's property bust after a decade-long boom, have seen their numbers cut to under 20 from 45 as a result of a government-driven consolidation process.

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