October 24, 2017 / 6:14 AM / 5 months ago

Caixabank posts 53 pct increase in nine-month net profit

MADRID, Oct 24 (Reuters) - Spain’s Caixabank posted on Tuesday a 53.4 percent rise in nine-month net profit to 1.49 billion euros ($1.75 billion), ahead of analysts’ forecasts and thanks to the incorporation of Portugal’s BPI .

Caixabank’s solid set of results are expected to be overshadowed in the market by Catalonia’s independence drive and its potential fallout on financial markets.

Net interest income, a measure of earnings on loans minus deposit costs, was 3.55 billion euros in the period from January to September, up 15.2 percent from a year ago.

In an attempt to calm investors and deposit holders, Caixabank decided to move its legal headquarters out of Catalonia early in October.

Caixabank successfully completed the takeover of BPI, Portugal’s second-largest listed lender, in February.

$1 = 0.8506 euros Reporting By Jesús Aguado; editing by Paul Day

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