Bankia 2014 profit rises 22% after provisions for exit … – Terra Colombia

Bankia 2014 profit rises 22% after provisions for exit … – Terra Colombia

Bankia announced Saturday attributable profit of 747 million in 2014 after taking some extraordinary provisions of 312 million euros for contingent claims arising from possible Investors are retailers for its IPO. In the picture the building of the headquarters of Bankia Madrid is the February 27, 2015

. Photo: Juan Medina / Reuters

Bankia announced Saturday attributable profit of 747 million in 2014 after taking some extraordinary provisions of 312 million euros for contingent claims arising from possible retail investors for its IPO.

For comparative proforma and by reference to an attributable profit of 611 million in 2013, the percentage rise in profit in 2014 was 22.2 percent.

Referencing the original figure of 512 million euros in 2013, the rise would have been 45.9 percent.

The company explained that without the extraordinary provision attributable profit Bankia would have stood at 966 million euros, roughly in line with projected by analysts in a Reuters poll of 962 million.

Of the 780 million euros provisioned together the BFA-Bankia group towards the cost of litigation, 468 million corresponded to the BFA matrix, which reduced its profit after tax by 79.8 per cent to 418 million euros.

As announced Eve, the income will allow Bankia afford to pay a dividend of 202 million euros or 0.017 euros per share and the president of BFA-Bankia, Jose Ignacio Goirigolzarri, advance its strategic plan and return more than 126 million euros the State.

In February 2014, BFA and recovered 1,304 million euros after selling 7.5 percent of Bankia.

The market consensus projected half a similar dividend the agreed around two cents per share, with a cost of 230 million euros.

MARGINS UP, LOW MORA FOLLOWED BY FOURTH QUARTER

As for the evolution of readjust the purely bank Bankia, net interest income improved by 20.7 percent aa 2.927 million euros to 2014, compared with forecasts of 2916.9 million euros and on the comparison of 2.425 million euros in 2013.

The comparative figure for 2014 includes the impact of a subordinated loan of BFA Bankia matrix.

Meanwhile, the gross margin increased 10.44 percent to 4.009 million in euros versus 3,630 million originally reported. Analysts had estimated a gross margin of 3.962 million euros.

In December, the company closed with a default of 12.9 percent compared to 13.63 percent in September, reducing its arrears for the fourth consecutive quarter.

The Fall of default of the company, which was nationalized with an injection of capital of 22,424,000 euros, occurs in a context of contraction of the loan in the Spanish banking.

At the sectoral level, the Spanish bank closed the year 2014 with a delinquency rate of 12.51 percent [ID: nL5N0VS1MI].

As for solvency levels, Bankia ended December with a ratio of core capital CET-1 in terms of Basel III fully loaded 10.6 percent, compared to 10.51 percent in September

(Reporting by Jesus Aguado;. edited by Sonya Dowsett )