Caixabank’s Q2 net profit beats forecasts, loan revenue under pressure

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The CaixaBank logo is seen above the company’s headquarters in Barcelona, ​​Spain, January 29, 2022. REUTERS/Nacho Doce

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MADRID, July 29 (Reuters) – Spanish bank Caixabank (CABK.MC) said on Friday it posted net profit of 866 million euros in the second quarter compared with restructuring losses in the same period last year , although lending revenues are still under pressure.

Caixabank, which in March 2021 completed the acquisition of Bankia to offset the effect of ultra-low interest rates, said higher income from insurance income and trading income had supported its profits over the course of the year. trimester. Lower provisions also helped.

Analysts polled by Reuters had expected the country’s biggest national bank to post a net profit of 592 million euros.

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Net interest income, or loan income less deposit costs, fell 1.8% in the second quarter to 1.61 billion euros from the same quarter a year ago.

Analysts had expected net interest income of 1.56 billion euros.

($1 = 0.9787 euros)

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Reporting by Jesús Aguado; edited by Inti Landauro

Our standards: The Thomson Reuters Trust Principles.

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