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Spain's Bankia releases better-than-expected results


Spain's Bankia releases better-than-expected results


Spain’s Bankia looks set for a stronger 2014 than was predicted with expectations the state could start selling down its holding.

The country’s fourth largest lender showed better-than-expected net lending revenue for the fourth quarter. Its net interest income – its earnings from loans minus funding and deposits – reached 690 million euros, seven percent better than in the third quarter.

Bankia was rescued by the state in 2012 in the wake of the property market crash.

It will join Spanish rivals such as Santander in trying to ramp up recurring revenues this year as an economic crisis fades.

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