Spain's Bankia Q3 net profit falls 79% on COVID-19 provisions

Credit: REUTERS/SERGIO PEREZ

MADRID, Oct 28 (Reuters) - Spain's Bankia BKIA.MC said on Wednesday its third quarter net profit fell 79% against the same period a year ago due to 155 million euros ($183.2 million) in COVID-19 related provisions.

The state-owned lender, which has agreed to merge with its bigger rival Caixabank CABK.MC, reported a net profit of 37 million euros in the July to September period. Analysts polled by Reuters a expected a net profit of 46 million euros.

($1 = 0.8461 euros)

(Reporting by Jesús Aguado, Editing by Inti Landauro)

((jesus.aguado@thomsonreuters.com; +34 91 585 8339; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.