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Spain's Bankia Q3 net profit falls 79% on COVID-19 provisions

MADRID, Oct 28 (Reuters) - Spain’s Bankia said on Wednesday its third quarter net profit fell 79% against the same period a year ago due to 155 million euros ($183.2 million) in COVID-19 related provisions.

The state-owned lender, which has agreed to merge with its bigger rival Caixabank, reported a net profit of 37 million euros in the July to September period. Analysts polled by Reuters a expected a net profit of 46 million euros.

($1 = 0.8461 euros)

Reporting by Jesús Aguado, Editing by Inti Landauro

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