Caixabank reports doubled profits, reduced bad loans

25th July 2014, Comments 0 comments

CaixaBank, Spain's third-biggest bank in terms of capitalisation, said on Friday its net profit had doubled in the second quarter of 2014, and reported a fall in bad debts for the second quarter running.

The bank, one of many Spanish banks hard hit by collapse of the property market and surge of bad loans, said its second-quarter net profit was 153 million euros ($205 million), compared with 73 million euros a year ago.

The Barcelona-based bank said that net banking income, a key measure of a bank's activity, rose by 5.7 percent to 1.02 billion euros.

© 2014 AFP

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