Bankia 2Q18 earnings preview: And now… suffering from the merger!
2Q18e net profit to amount to €214mn
Bankia will release its 2Q18 results on Thursday, July 26th before market opens. A webcast will take place at 12.30 CET (www.bankia.com). We expect that 2Q18e net profit may amount to €214mn (+17.3% yoy and –6.6% qoq), implying a 1H18e net profit of €444mn (–12.4% yoy). We are slightly below the consensus that expects a net profit of €223mn in 2Q18e.
Bankia is a financial institution based in Spain. Co. is primarily engaged in operations in the banking sector. Co.'s business operations are structured into seven areas: Retail Banking, Business Banking, Private Banking, Asset Management and Bancassurance, Capital Markets and Holdings. Co. offers financial products and services to various customer segments, such as individuals, small and medium enterprises, large corporations, as well as public and private institutions. As of Dec 31 2014, Co. had total assets and total customer deposits of Euro233,648,603,000 and Euro106,806,698,000 respectively.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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