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Liberbank Q2 net income rises YOY

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Liberbank Q2 net income rises YOY

Liberbank SA reported second-quarter net attributable income of €55 million, up from €35 million in the same period in 2017.

Net interest income amounted to €116 million in the period, up from €100 million in the second quarter of 2017. Net fees ticked up year over year to €48 million from €46 million, while gains on financial assets and others declined on a yearly basis to €3 million from €5 million.

The Spanish lender booked provisions of €9 million in the second quarter, compared to reversals of €27 million a year earlier. Impairment on financial assets declined over the same period to €14 million from €26 million.

For the first half, Liberbank's net attributable income rose on a yearly basis to €84 million from €67 million.

The bank's nonperforming loan ratio stood at 6.75% as of June 30, down 109 basis points on a quarterly basis and 453 basis points on an annual basis.

Liberbank's fully loaded common equity Tier 1 ratio stood at 12.2% at the end of June, compared to 12.0% at March-end and 11.3% at June 30, 2017. On a phased-in basis, the CET1 ratio was 13.4% at June-end, compared to 12.4% a year earlier.