Caixabank obtained an attributable net profit of EUR 503 million in 2013, a 118,9% more than in 2012, in a year marked by the accounting and technological merger of Banca Civica and Banco de Valencia, as net interest income slipped and bad loans grew.
As for BBVA, the Spain’s second-largest banking group by assets posted a €677m net loss for the 4Q because of a €2.6bn pre-tax loss on the sale of its stake in a Chinese bank (in October, it cut its stake in China Citic Bank to just below 10%.) However, its profit for the full year went up by 33% in 2013 to €2.228 billion. Analysts had expected net interest income of around €3.6 billion.
“Our outlook for 2014 has improved significantly and we are in an excellent position to respond to the growth of solvent demand of new credit,” BBVA’s Chairman Francisco González said.