MADRID, May 5 (Reuters) – Spain’s Liberbank, which will be in the process of being taken over by larger rival Unicaja, said on Wednesday its net profit rose 17% in first quarter against the exact same period a year ago thanks to some rise in earnings from fees and commissions and despite the cost of COVID-19 associated provisions.
The lender reported a net profit of 23 million euros ($27. 64 million) in the January to March period. Analysts polled by Reuters expected a net profit of 18.8 million euros.
Liberbank set aside 28 million euros in terms associated with this COVID-19 pandemic throughout the quarter.
$1 = 0. 8322 euros Reporting by Jesús Aguado, Editing by Inti Landauro