Spain’s Liberbank Q1 net profit rises 17% from year ago
MADRID, May 5 (Reuters) – Spain’s Liberbank, which is in the process of being taken over by bigger rival Unicaja , said on Wednesday its net profit rose 17% in first quarter against the same period a year ago thanks to a growth in revenues from fees and commissions and despite the cost of COVID-19 related provisions.
The lender reported a net profit of 23 million euros ($27.64 million) in the January to March period. Analysts polled by Reuters expected a net profit of 18.8 million euros.
Liberbank set aside 28 million euros in provisions related to the COVID-19 pandemic during the quarter.
$1=0.8322 euros Reporting by Jesús Aguado, Editing by Inti Landauro
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