Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain's CaixaBank 9 month profit down 17 pct

Source: Reuters - Fri 4th Nov 2011

Spain's CaixaBank reported a 17% drop in 9 month net profit on Friday, dragged lower by provisioning against souring loans in a grim economic environment.

The lender, which listed in July as part of a state-driven shake-up of Spain's banking system, set aside 1.95 billion euros to protect against bad loans due to high levels of unemployment and indebtedness in the country.

Net interest income, what a bank earns on loans minus what it pays out on deposits, fell 12% in the first nine months of the year to 2.32 billion euros, but rose 4.7% from the second quarter to the third quarter.

The Barcelona-based bank, one of the five Spanish banks examined by the European Banking Authority in October, said it had raised its Tier 1 core capital ratio - a measure of resilience - to 11.8%, 2.9% points up from end-December.

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs