MADRID (Reuters) -Lower interest rates put lending income at Spain's Unicaja under pressure in the fourth quarter compared with the previous three-month period. In the September to December period,
Unicaja's Q4 Lending Income Declines Amid Lower Rates
MADRID (Reuters) -Lower interest rates put lending income at Spain's Unicaja under pressure in the fourth quarter compared with the previous three-month period.
In the September to December period, the lender booked a net profit of 122 million euros ($125.72 million), 22% less than in the previous quarter. Analysts expected a net profit of 142 million euros.
The country's sixth-biggest lender by market value had booked a 19 million euro net loss in the fourth quarter 2023.
On Tuesday, the bank also said its board had proposed the distribution of a dividend pay-out 60% against 2024 results, equivalent to 344 million euros.
Unicaja's net interest income, a measure of earnings on loans minus deposit costs, in the quarter fell 0.8% against the previous quarter to 381 million euros, higher than analysts' forecasts of 364 million euros.
($1 = 0.9704 euros)
(Reporting by Jesús Aguado, editing by Inti Landauro)
