Bankia : BFA-Bankia earnings reached 250 million euros in first quarter, up 17.4%
04/28/2014 | 07:21am US/EasternRecommend:
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Bankia achieves profit after tax of 186 million, up 157% in accounting terms and up 38.5% if the impact of the subordinated loan on the 2013 accounts is excluded
Recurring pre-provision profit (ex net trading income) of Bankia climbed to 468 million euros, up 57.6%
Recurring efficiency ratio (ex net trading income) went from 62.1% to 49.3% in one year, after expenses reduced by more than 10%
NPL ratio down from 14.65% to 14.31%, with a fall of 842 million euros in non-performing assets during the quarter, while NPL coverage rose from 56.50% to 57.42%
Volume of strict customer deposits grew 718 million euros in the quarter, while market share expanded
Bankia generated a further 25 basis points of capital in the quarter and raised its solvency to 11.96% (EBA core tier 1) and 10.91% (Basel III)
Commercial gap shrunk 3,519 million through deposit acquisition and balance sheet reduction, while LTD ratio fell to 111.9%
More than 50 asset disposals undertaken by BFA-Bankia Group in year to date, for a total of 1,816 million euros