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

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Jesús Aguado Reuters
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Credit: REUTERS/SERGIO PEREZ

Spain's Bankia 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.

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))

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