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Kutxabank Q1 income rises YOY

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Kutxabank Q1 income rises YOY

reported net incomeattributed to the group of €75.2 million in the first quarter, up 16.5% fromthe same period a year ago.

Net interestincome amounted to €145.4 million, down 6.3% from the first quarter of 2015.Commission income also declined 2.6% to €87.7 million.

Kutxabankrecorded impairment of financial assets and other provisions of €63.0 millionin the first quarter, down 22.2% year over year. Amortizations declined 3.9% to€13.3 million.

Thebank's nonperforming loans ratio stood at 8.03% at March-end, 173 basis pointsdown from the ratio a year ago.