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Spain's second, third-biggest banks report profits in 1Q

Xinhua, April 28, 2016 Adjust font size:

Spain's second and third-biggest banks by market value, namely BBVA and Caixabank, on Thursday reported profits for the first quarter of the year.

BBVA reported on Thursday a total of 709 million euros (804 million U.S. dollars) of net profits in the first quarter of the year, while Caixabank reported 273 million euro profits in the first three months of the year.

Caixabank's profits fell by 27.2 percent year-on-year while BBVA's decreased by 53.8 percent in yearly comparison.

BBVA's non-performing loan rate stood at 5.3 percent, falling from the 5.6 percent of a year earlier, while Caixabank's non-performing loan rate fell to 7.6 percent.

Wednesday saw Spain's Banco Santander report profits of 1.633 billion euros for the first quarter this year, registering a 5 percent fall in comparison with the first quarter of 2015, especially due to the depreciation against the euro. (1 euro=1.13 U.S. dollars) Endit