CAIXY Caixabank (PK)

   By Pietro Lombardi and Carlo Martuscelli 
 

CaixaBank SA (CABK.MC) said Thursday that third-quarter net profit rose while net interest income was flat in the third quarter.

Net profit for the period was 644 million euros ($716.1 million) compared with EUR470 million a year earlier, the Spanish bank said. Results for the third quarter of last year included a charge related to the sale of its stake in Repsol SA (REP.MC).

Gross income was EUR2.17 billion, down from EUR2.25 billion in the third quarter of 2018.

Analysts had expected a net profit of EUR564 million and gross income of EUR1.23 billion, according to a consensus provided by the bank.

Net interest income--the difference between what lenders earn from loans and pay for deposits, and a key profit driver for retail banks--was unchanged at EUR1.24 billion

CaixaBank's core Tier 1 ratio, a key measure of capital strength, was 11.4% at the end of September from 11.6% in June.

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

(END) Dow Jones Newswires

October 31, 2019 03:04 ET (07:04 GMT)

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