UPDATE 1-Spain's La Caixa Q1 net profit down 9.3 pct
* Loan loss provisions nearly treble
* Net profit down 9.3 pct on provisions
* Bad loans ratio 3.40 pct vs 2.48 pct end-2008
(updates with further details)
By Judy MacInnes
MADRID, April 23 (Reuters) - Spain's largest savings bank La Caixa posted net profit of 567 million euros ($738.5 million) for the first quarter on Thursday, down 9.3 percent from the same period last year as it hiked provisions.
La Caixa said it nearly trebled loan loss provisions from a year ago to 284 million euros in the first quarter, against a backdrop of a worsening economic situation.
Bad loans as a percentage of total lending rose to 3.4 percent on March from 2.48 percent at end-2008, with reserves to cover 51 percent. Continued...
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