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Spain's Caixabank second-quarter net profit falls 85% due to restructuring costs

Spain's Caixabank second-quarter net profit falls 85% due to restructuring costs
FILE PHOTO: A man walks past a Caixa bank branch in Barcelona, Spain October 6, 2017. REUTERS/Yves Herman -
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Yves Herman(Reuters)
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MADRID (Reuters) – Spain’s Caixabank <CABK.MC> posted on Friday a decline of 85% in second quarter net profit to 89 million euros ( £79.7 million ) due to one-off restructuring costs while lending income slightly rose thanks to lower funding costs.

Net interest income — a measure of earnings on loans minus deposit costs —, was up 0.9% in the second quarter against the same quarter last year to 1.24 billion euros. Analysts had forecast a NII of 1.25 billion euros.

(Reporting By Jesús Aguado; Editing by Jose Elías Rodriguez)

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