Spanish banking group CaixaBank has reported attributable profit of €638m for the first half of 2016, down 9.9% from €708m the year ago.
The group’s pre-tax profit for the half year ended 30 June 2016 stood at €888m, a surge of 59.4% from €557m in the prior year.
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Net interest income dipped 10.1% to €2.04bn from €2.27bn during the same period in 2015. The bank attributed the fall to lower financing costs on retail savings, especially maturity deposits, and the lower cost of institutional financing.
Gross income dropped 11.3% year-on-year to €4.05bn from €4.56bn, driven by low interest rates, high market volatility and several one-off events.
At the end of the first half, the bank’s total assets were €353,11bn, a rise of 2.6% year-on-year.
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