CaixaBank doubles profit to March by integrating business … – Investing.com Spain

MADRID (Reuters) – The CaixaBank financial group (MADRID Thursday announced a rise of 99.1 percent in its first quarter profit with an increase of 14.6 percent in its net interest income on accounts which were positively impacted by the contribution of the Spanish retail business Barclays (LONDON:).

This is the first quarter that takes into account the integration of the Spanish business of British bank, which brought benefits to 375 million euros and Net interest income 1,138 million euros.

The group improved its gross margin at a rate of 7 percent to 1.953 million in the context of higher commissions and assets partly thanks to the incorporation of Barclays.

Analysts forecast a net profit of 341 million, and net interest income of 1,127 million and a gross margin of 1,821 million.

In the heat of the general economic improvement, the rate delinquency remained at 9.7 percent, while the solvency of the institution, measured in terms of Basel III, eroded slightly to 11.5 percent from 12.3 percent in December.

While evaluating the first quarter of the new strategic plan of the company, investors will be particularly attentive to the offer on 55.9 percent of BPI does not control and any announcement about possible sales subsidiaries.

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