January 31, 2020 / 6:10 AM / 19 days ago

Spain's Caixabank Q4 net profit more than doubles, NII pressured

MADRID, Jan 31 (Reuters) - Spain’s Caixabank net profit in the fourth quarter more than doubled to 439 million euros ($487 million) on lower loan loss provisions and fewer charges.

Bottom line was above an average of 395 million euros forecast by a Reuters poll.

Net interest income — a measure of earnings on loans minus deposit costs —, fell 0.4% to 1.23 billion euros against the same period a year earlier and 0.9% down from the previous quarter. Analysts had forecast a NII of 1.24 billion euros.

$1 = 0.9014 euros Reporting By Jesús Aguado; editing by Inti Landauro

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