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Kutxabank FY'17 profit rises 23.6%

Kutxabank SA reported full-year 2017 net income attributed to the group of nearly €302.0 million, up 23.6% from €244.2 million the previous year.

Net interest income ticked up year over year to €558.7 million from just below €558.0 million, while net commissions rose 10.4% over the same period to €379.6 million from €343.8 million. Provisions and other losses came in at €368.2 million in 2017, compared to €238.1 million a year earlier.

Return on equity reached 6.08% in 2017, up from the year-ago 5.06%.

The Spanish lender's nonperforming-loan ratio stood at 4.89% at the end of 2017, down from 6.59% a year earlier. Its fully loaded common equity Tier 1 ratio rose to 15.3% from 14.8% at the end of 2016, while its leverage ratio was unchanged at 8.1%.