Bankia's net profits down 31.6% in second quarter of the year

Eugenia Jiménez
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Bankia's net profits down 31.6% in second quarter of the year

Spain's state-owned lender Bankia reported that its second-quarter net profits fell by 31.6% due to lower trading income and ongoing pressure on lending income.

The Spanish bank posted on Monday that its net earnings had fallen to €195m over the three months to June.

"Though net interest income remained under pressure against the same quarter last year, it showed some improvement against the previous quarter," the bank said.

Though net interest income remained under pressure against the same quarter last year, it showed some improvement against the previous quarter,” the bank said.

Although net interest income was €516m, down 1% from a year earlier, the figure was 2.9% higher than the previous quarter.

As with other European banks, Spanish lenders are struggling to lift earnings from loans as rates hold at ultra-low levels, according to Reuters.

Eugenia Jiménez
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Eugenia Jiménez

Eugenia Jiménez speaks Spanish and is Iberia Correspondent for Investment Europe covering Spain & Portugal, as well as Italy.

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