Bankinter books 992 mln euro net profit in Q2 on insurance unit spin-off (updated)
22/07/2021 07:33
(Adds details on capital gains and lending book)
MADRID, July 22 (Reuters) - Spain's Bankinter BKT.MC said
on Thursday it booked a net profit of 992 million euros ($1.17
billion) in the second quarter thanks to capital gains from the
spin-off and direct market listing of its insurance unit LDA
LDA.MC .
Analysts polled by Reuters expected a 997 million euros net
profit taking into account the extraordinary contribution from
LDA.
In the same quarter last year, Bankinter had reported a loss
of 21.2 million euros following 177 million euros in COVID-19
related provisions.
With the listing of 82.6% of its insurance unit Linea
Directa Aseguradora in April, Bankinter booked a capital gain of
895.7 million euros.
The lender also managed to improve its financial margins
thanks to a growth in the bank's overall loan book in the first
half of the year.
($1 = 0.8480 euros)
(Reporting by Jesús Aguado; editing by Inti Landauro)
((jesus.aguado@thomsonreuters.com; +34 91 585 8339; Reuters
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