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Results 3Q 2016

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Category: Results

Bankia obtains a net attributable profit of 731 million euros in the year to September, down 14.5%

Bankia achieved a net attributable profit of 731 million euros in the first nine months of the year, 14.5% less than in the same period of 2015. The decline is due to the effect of the deconsolidation of City National Bank of Florida (CNB), which was sold in October last year, the depreciation of the SAREB bonds, the fall in interest rates, especially the one-year Euribor, which has been in negative territory since March this year, and the decision taken one year ago to eliminate mortgage floor clauses. Without the effect of the sale of CNB, profit would have been down 9.9%.

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