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Bankia Q2 profit falls YOY as net interest income drops

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Bankia Q2 profit falls YOY as net interest income drops

Bankia SA reported second-quarter profit attributable tothe group of €245 million, down from €296 million in the year-ago period.

The results excluded , whichwas sold in October2015.

Net interest income for the period declined ona yearly basis to €546 million from €657 million. Total net fees andcommissions dropped to €207 million from €245 million.

The bank booked net provisions of €24 millionin the second quarter, compared to reversals of €12 million a year earlier.Net impairment losses on financial assets decreased year over year to €64million from €160 million.

For the first half, Bankia reportedattributable profit of €481 million, down from €527 million from the year-agoperiod.

The bank's nonperforming loans ratio,excluding transactions with parent BFA Sociedad Tenedora de Acciones SAU, stood at 9.8% atthe end of June, compared to 10.5% at March-end and 10.8% at the end of 2015.The NPL coverage ratio was 60.8% at June-end, compared to 60.5% at the end ofMarch and 60.0% at 2015-end.

The phased-in common equity Tier 1 ratio underBIS III stood at 14.53% at the end of June, compared to 13.89% at the end of2015. The fully loaded CETI ratio as of June 30 was 12.89%, compared to 12.26%at 2015-end.