Off the wire
• Spanish stock market falls 0.99 pct, closes at 10,403 points  • Chinese experts train health workers in Togo for prevention against Ebola  • Spanish Gov't gives go-ahead to anti-Jihadist measures  • Tick-borne encephalitis bigger problem in Europe than previously thought: experts  • At least 3 killed in armed clashes in Yemen's south  • Urgent: Gold regains ground on downbeat U.S. GDP data  • FTSE 100 closes lower on Friday  • Heavy snow blocks roads in western, central Slovakia  • 6 immigrants drowned, 4 missing as boat sinks close to Spanish enclave  • Education, health services in general strike in Kosovo  
You are here: 　 Home

Spanish Caixabank earns 620 mln euros in 2014

Xinhua, January 31, 2015 Adjust font size:

Spanish bank Caixabank earned 620 million euros (700.546 million U.S. dollars) in 2014, the bank reported on Friday.

The figure meant a 23.26 percent increase when compared with 2013, when the third-biggest Spanish bank had earned 503 million euros. The Bank also said that it set aside 2.084 billion euros of provisions against loan losses, which meant a 48.8 percent decrease in comparison with 2013.

Caixabank lending fell nearly 5 percent year-on-year to 197.185 billion euros, increasing by 1.4 percent in the last quarter of the year. Its bad loans ratio stood at 9.7 percent in 2014, below the sector's average, which stood at 12.8 percent in November.

Caixabank was not the only one Spanish bank reporting earnings on Friday.

Banco Popular, Spain's sixth biggest by market value, earned 330.4 million euros in 2014, which meant 31.4 percent more in comparison with 2013, when the entity earned 251.5 million euros. The bank set aside 2.292 billion euros of provisions against loan losses.

Spanish banks are emerging from a financial crisis that started in 2008 when the housing bubble burst in the country. Some of them had to be bailed out by the Spanish government and the European Union (EU) in order to be recapitalized. (1 euro = 1.130 U.S. dollars) Endit