Bankinter's first quarter net profit falls 10% on coronavirus-related provisions [Reuters]
BANKINTER SA S/ADR (BKNIY)
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Source: Reuters
Bankinter's first quarter net profit falls 10% on coronavirus-related provisions MADRID (Reuters) - Spain’s Bankinter said on Thursday its first quarter net profit fell 10.1% from the same period a year earlier on higher provisions to prevent a downturn in business caused by the coronavirus crisis. The bank booked provisions worth 107.3 million euros ($116.18 million) in the first quarter compared to 55.1 million euros in the same period in 2019, it said. The country’s fourth-largest bank by market value reported a net profit of 130.3 million euros in the January to March period. Analysts polled by Reuters expected a net profit of 117 million euros. ($1 = 0.9235 euros)
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