Spanish banks obtain a profit of 3,538 million until March, 11.4% less
With limited balance sheet growth, the slight improvement in net interest income and the reduction in operating costs were not sufficient to offset the lower results obtained from financial operations.
The attributable profit of Spanish banks fell by 63.7% in the first nine months of 2012, reaching 3,386 million euros.
The institutions are making an intense clean-up effort, amounting to 25,581 million euros, which includes a large part of the extraordinary provisions required for this fiscal year.
Spanish banking groups obtained an attributable profit of 7,979 million in the first half of 2010, after increasing their provisions and strengthening their solid equity position
The profit obtained was compatible with a significant provisioning effort totaling 10,977 million, 10.3% higher than in the same period of 2009.