April 30, 2019 / 6:47 AM / 7 months ago

Caixabank Q1 net profit down 24 pct on lower trading income and Repsol

MADRID, April 30 (Reuters) - Spain’s Caixabank on Tuesday posted a 24 pct fall in first-quarter net profit on Tuesday on lower trading income and after an unfavourable comparison after it began selling its stake in oil major Repsol in the third quarter.

Caixabank, Spain’s third largest bank, reported net profit of 533 million euros ($596 million) in the first three months of the year, below an average of analysts’ forecasts in a Reuters poll of 548 million euros.

An accounting reclassification at BFA, the Angolan unit, which it holds through its Portuguese bank BPI, also hit the bottom line. ($1 = 0.8946 euros) (Reporting By Jesús Aguado; Editing by Paul Day)

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