Madrid, July 22 (EFE) .- Bankia obtained a net profit of 481 million euros in the first half of the year, 13.4% less than a year earlier, due to low interest rates, the depreciation of bonds SAREB and the absence of the contribution of City National Bank of Florida (USA), the CNB.
This has been today the company to the National Securities Market Commission (CNMV), in a note adds that without the latter effect, derived from the sale of that entity in 2015, the fall in profit would have been located at 8.7 %.
the balance of doubtful fell in the six months to 1,244 million euros, which allowed the NPL ratio fell below 10% for the first time in four years, to 9, 8%, highlights the company.
at the end of June, Bankia had provided its customers with a volume of 109.794 million euros in loans, 0.7% less, of which 93,633 were given to resident private sector, 0.1% less than a year earlier.
the company managed the end of June a total of 132.323 million euros of its clientele, 0.2% less, of which 107,908 were deposits, which had fallen 0.7% from a year earlier.
as for the solvency capital ratio of highest quality CET 1 “fully loaded” rose to 12.89% from 12.26% in December.
the CEO of Bankia, Jose Sevilla, said that this semester the institution has demonstrated “its ability to cope with a context of negative interest rates. Cost containment and the drop in provisions for doubtful allow us to maintain high levels of profitability. “
As for the main margins of the income statement, the interest was reduced 19.1 % to 1,124 million euros.
in this section, the sale of CNB had an impact of 72 million, bonds SAREB subtracted 78 million and the drop in the Euribor to negative rates did 85 million in performance of mortgages. Furthermore, the withdrawal of ground clauses reduced income 21 million.
on the side of the commissions, the strategy to eliminate these fees for some customers reduced its contribution by 15.5% to 406 million euros.
the good news is that it has also helped to attract 113,151 salaries and pensions so far this year and marketing of 348,924 cards.
the results from financial transactions and exchange differences were reduced by 17.2% to 134 million euros, while in the other operating income, the proceeds from the sale of the stake in Visa Europe offset almost entirely the contribution to the Single Resolution Fund adds Bankia.
with all this, the accumulated gross margin through June reached 1.686 million euros after falling 16.9% from a year earlier .
Bankia continued to perform throughout the year a major effort to contain operating costs, which fell by 6.7% to 787 million euros, which allowed the ratio of ex efficiency ROF will stand at 50.7%
the margin before provisions was 900 million euros, 24.2% less than in 2015
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