Bankia’s net income has jumped 94 percent in the period between April and June to 245 million euros. The figures represent a two fold rise from the same period last year.
Profits were boosted for the bank, which is about 60 percent owned by the government by lending revenue which rose more than expected.
Analysts say the figures are more evidence a sustained recovery is starting to take root at Spanish banks as the country’s economy returns to growth and the rate of defaults start to ease.
Bankia, once a symbol of the financial sector’s struggles, has become an example of the turnaround since returning to profit.
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