On a like-for-like basis, Bankinter’s net profit increased by 21% in the second quarter.
MADRID (Reuters)-Bankinter of Spain said on Thursday that when a large accounting gain from the market offering of its insurance unit LDA in 2021 was excluded, its second-quarter net profit increased by 21%.
When deducting LDA-related capital gains booked in 2021 and worth approximately 900 million euros, the lender reported a net profit of 117 million euros ($119.6 million) in the April to June period, compared to 96 million euros in the same time a year ago.
Reuters polled analysts, who predicted a net profit of 101 million euros.
Net interest income (NII), defined as loan earnings minus deposit expenses, increased 5.5 percent year on year to 346 million euros in the second quarter, exceeding analysts’ expectations of 329 million euros.
($1 = 0.9779 euros)
