Sunday, July 26, 2015

The big banks earns 7,400 million through June, up 34% – EntornoInteligente

The big banks earns 7,400 million through June, up 34% / Expansion / The big Spanish bank, Santander, BBVA, CaixaBank, Bankia, Sabadell and Popular-win 7,400 million overall in the first half of 2015, up 34% from 5.511 million euros reported a year ago, according to the consensus of analysts consulted by Efe.

The first of these entities to submit their accounts was the Banco Sabadell, which on Friday announced a net profit of 352.2 million euros, 55.3% more, after setting aside about 1,750 million to loan loss provisions and provisions.

After the Sabadell, Bankia and the following will be tomorrow.

According to market estimates, experts expect the bank led by José Ignacio Goirigolzarri reach a profit 532 million euros, up 23.4% from 431 million won in the same period of 2014. However, we must bear in mind that the entity that profit adjusted according to the new accounting standard of contributions to the Guarantee Fund Deposit.

Bringing the profit for the first half of last year rose to 498 million, so the analyst estimate of 532 million gain in the first half of 2015 will be an improvement 6.8%.

Since the July 30 will be the turn for the first Spanish bank, Santander, which last year announced a net profit of 2.756 million from January to June thanks to higher revenues and lower provision charges.

First half In the first half of the year, analysts expect the Spanish banking giant earn almost 31% more, as they provide a profit of 3,600 million euros.

Anything lower will be BBVA’s earnings, according to the market consensus, which expects the governing body Francisco Gonzalez obtained a net profit of 2,000 million euros.

This figure is well above the 1,328 million euros earned between January and June 2014 by BBVA, which shall report to the market on July 31.

The last day of the week is chosen by most entities to present their half-yearly accounts, as well as BBVA, CaixaBank will do and Banco Popular.

In both cases, benefits will be higher than announced a year ago, analysts say.

In particular, the market expects CaixaBank earn 725 million euros, more than double the 305 million a year ago.

People, meanwhile, will gain 182 million euros, also above the 128.5 million achieved between January and June 2014, when it made net provisions amounting to 1,110 million euros.

Information Expansion

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