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CAIXY Caixabank (PK)

1.71
-0.045 (-2.56%)
Last Updated: 20:19:50
Delayed by 15 minutes
Name Symbol Market Type
Caixabank (PK) USOTC:CAIXY OTCMarkets Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  -0.045 -2.56% 1.71 1.71 1.79 1.758 1.71 1.745 38,447 20:19:50

CaixaBank 1Q Net Profit Fell 24%

30/04/2019 8:11am

Dow Jones News


Caixabank (PK) (USOTC:CAIXY)
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From May 2019 to May 2024

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   By Pietro Lombardi 
 

CaixaBank SA (CABK.MC) net profit fell 24% in the first quarter, missing analysts' expectations.

Net profit for the period was 533 million euros ($595.1 million) compared with EUR704 million a year earlier, the Spanish bank said Tuesday.

Gross income fell 6.8% to EUR2.11 billion.

Analysts had expected a net profit of EUR541 million for the period on gross income of EUR2.12 billion, according to a consensus forecast provided by the bank.

The results were hit by extraordinary effects, such as the deconsolidation of Repsol SA (REP.MC), the bank said.

Net interest income--the difference between what lenders earn from loans and pay for deposits, and a key profit driver for retail banks--rose 2.9% to EUR1.24 billion while fees and commissions declined 2.2% to EUR612 million.

CaixaBank's core Tier 1 ratio, a key measure of capital strength, was 11.6% in March compared with 11.5% as of December.

 

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

 

(END) Dow Jones Newswires

April 30, 2019 02:56 ET (06:56 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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