Bankinter's Q2 Net Profit Rises 21% On Like-for-like Basis

Spain's Bankinter on Thursday said its second quarter net profit rose 21% compared to same period a year ago when stripping out a 2021 hefty accounting gain from the market listing of its insurance unit LDA.

The lender reported a net profit of 117 million euros ($119.6 million) in the April to June period compared to 96 million euros in the same period a year ago when excluding LDA-related capital gains booked in 2021 and worth about 900 million euros.

Analysts polled by Reuters expected a net profit of 101 million euros.

Net interest income (NII), earnings on loans minus deposit costs, rose 5.5% year-on-year in the second quarter to 346 million euros, above analysts' forecasts of 329 million euros.

($1 = 0.9779 euros)