July 26, 2019 / 5:30 AM / 4 months ago

Spain's Caixabank Q2 net profit falls 85% due to restructuring costs

MADRID, July 26 (Reuters) - Spain’s Caixabank posted on Friday a decline of 85% in second quarter net profit to 89 million euros ($99.2 million) due to one-off restructuring costs while lending income slightly rose thanks to lower funding costs.

Net interest income — a measure of earnings on loans minus deposit costs —, was up 0.9% in the second quarter against the same quarter last year to 1.24 billion euros. Analysts had forecast a NII of 1.25 billion euros.

($1 = 0.8975 euros)

Reporting By Jesús Aguado; Editing by Jose Elías Rodriguez

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