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Unicaja Banco reveals profits of 136 million euros till September

Unicaja Banco reveals profits of 136 million euros till September
/ SUR
  • Shareholders of Unicaja bank should be pleased with the results

Shareholders of Unicaja bank should be pleased with the results until September - 136 million euros of profit - although these were 30 per cent lower than at the same time last year.

The bank is the seventh biggest in Spain and last year it released the largest quantity of shares of the year onto the stock market.

After the results were released on Tuesday, the share values rose by 2.8 per cent and saw the third highest volume of business in the month of October.

Sources at Unicaja say the results would have been even better, with an estimated profit of 177 million euros, if it had not been for the reorganisation of the insurance activity at Unicaja Banco and Banco Ceiss, to whom it allocated 98 million euros last year.

The bank points out that Tuesday's figures come close to the total for 2016, which was 142 million, after assigning 130 million to the mortgage floor rate clause situation, something which has not occurred this year.

The bank stresses that it is a fully solvent entity, and its loans have increased by 47 per cent in the case of businesses and 23 per cent to individuals.