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Spain's Bankia posts 1 pct y/y increase in 9-month net profit
October 30, 2017 / 7:30 AM / 23 days ago

Spain's Bankia posts 1 pct y/y increase in 9-month net profit

MADRID, Oct 30 (Reuters) - Spain’s state-owned lender Bankia posted on Monday a 1 percent increase in nine-month net profit from a year earlier on lower loan-loss provisions and higher fees, which helped offset eroded lending income.

Net profit for the first nine months came in at 739 million euros ($857 million) compared to a 711 million euros forecast in a Reuters poll.

Net interest income, a measure of earnings on loans minus deposit costs, was 1.47 billion euros, down 10.1 percent from a year ago. ($1 = 0.8619 euros) (Reporting By Jesús Aguado; editing by Paul Day)

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