Windfall tax on banks blamed for fall in Unicaja Banco's drop in six-monthly profits

Malaga-based Unicaja Banco made a profit of 148 million euros in the first six months of this year, its board has said.

The figure for Spain's sixth largest banking group is 13% lower than in the first half of last year. Unicaja has put this drop down to the new government tax on bank profits approved, which came into force on 1 January. It says it would have seen an increase in profits of 24.5% more than January to June last year if it weren't for the new tax.