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Spain's Caixabank Q4 net profit rises 49% y/y on one-off gains

MADRID, Jan 29 (Reuters) - Caixabank’s fourth-quarter net profit rose 49% from the same period in 2019 thanks to more than 400 million euros ($483.92 million) in capital gains from the sale of a minority stake in a payments technology unit, the Spanish lender said on Friday.

Caixabank, which last September struck a deal to buy Bankia in a defensive deal to better cope with ultra low interest rates and the coronavirus pandemic, reported a net profit of 655 million euros in the October to December period.

Analysts polled by Reuters expected a net profit of 553 million euros.

$1 = 0.8266 euros Reporting by Jesús Aguado, Editing by Inti Landauro

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