provisions

No Picture

Write-downs take 80pc of CaixaBank’s profits, push core capital to 13pc

BARCELONA | CaixaBank reported Friday a poor attributed January to March net income of €166 million as a result of provisions enforced by the Spanish government, set to clean up the balance sheets of the country’s banking sector. For the Catalan entity, the figure means an 80.1-percent cut down comparing to the first quarter of 2011 and bears the scars of large write-downs of €3.735 billion. CaixaB ank said that, as…