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Spain's Caixabank Q3 net profit declines 19% y/y on COVID-19 provisions

MADRID, Oct 30 (Reuters) - Spain’s Caixabank on Friday said its third-quarter net profit declined 19% against the same period a year ago due to more COVID-19 related provisions.

Caixabank, which last month agreed to buy Bankia in a defensive deal to better cope with ultra low interest rates and the coronavirus pandemic, reported a net profit of 522 million euros in the July to September period. Analysts polled by Reuters expected a net profit of 319 million euros. ($1 = 0.8461 euros) (Reporting by Jesús Aguado, Editing by Inti Landauro)

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