5 Feb, 2015 @ 16:28
1 min read

Spain’s CaixaBank reports massive €620 million earnings for 2014

CaixaBank e
Profits booming for Spain's third-biggest bank

CAIXABANK recently reported earnings of €620 million in 2014, a 23% improvement on the year before.

Profits boom for Spain's third-biggest bank
Profits boom for Spain’s third-biggest bank

The bank made a significantly lower €503 million in 2013

Spain’s third-biggest bank also put over €2 billion into provisions for loan losses, almost 50% down since 2013, with its bad loan ratio dropping below 10%.

Banco Popular is another Spanish bank to report improved earnings – 31% better than in 2013 – making over €330 million in 2014.

The financial crisis that descended upon Spain in 2008  is loosening its grip on some Spanish banks, many of which received aid from the government and the European Union.

Iona Napier

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