Unicaja’s Q2 net profit up 61% but lending income down qtr/qtr

Spain’s Unicaja (UNI.MC), opens new tab posted a 61% rise in second-quarter net profit on Tuesday helped by lower provisions though lending income eased quarter on quarter due to higher funding costs.

Net profit rose to 184 million euros for the three months to June 30, slightly below the 191 million expected by analysts polled by Reuters as loans declined.

Spanish banks are mainly retail lenders and have benefited from higher interest rates for longer than initially expected as they charge more on loans while keeping a lid on rates paid to savers.

Source: REUTER