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Results 1Q 2016

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Category: Results

Bankia posts attributable net profit of 237 million euros, up 2.1%

Bankia posted an attributable net profit of 237 million euros during the first quarter of the year; 2.1% higher than in the same period of the previous year on a like-for-like basis.

Cost containment and lower provisions thanks to an improvement in asset quality offset the drop in income resulting from the current adverse interest rate climate and the effect of the new strategy of not charging commission launched on 11 January. The 2015 figures do not include the contribution of City National Bank of Florida (CNBF), the subsidiary sold in October. Profit would be 3.3% lower if this is included.

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