Modification de Unicaja s Profit Beats Forecasts Overshadowed By New Mortgages...

Q3 net profit rises 35% to 137 mln euros, above forecasts<br><br>*<br><br>Q3 NII up 34% y/y, beating analysts' forecasts<br><br>*<br><br>New mortgage loans fall 55% y/y in Q3<br><br>*<br><br>Shares fall 5%<br><br>(Adds detail on decline in new mortgage production in paragraphs 3 and 4, shares in 6, customer spread in 8)<br><br>By Jesús Aguado<br><br>MADRID, Oct 30 (Reuters) - Spain's Unicaja said on Monday its net profit rose 35% in the third quarter helped by higher lending income though new mortgage loans fell more than 50%.<br><br>Unicaja reported a net profit of 137 million euros ($144.6 million) in the July to September period, more than the 126 million euros forecast by analysts polled by Reuters.<br><br>The lender's total performing loan book shrank 7% year-on-year in the quarter, while new residential mortgages, the bulk of its loan book, fell more than 55% against the same quarter last year and declined 46% compared with the previous quarter.<br><br>A decline in mortgage transactions is affecting the whole sector on lower demand for credit.<br><br>Spanish households are among the most exposed to a rise in interest rates as around 70% of the country's more than 4 million outstanding mortgage loans are tied to variable rates.<br><br>The declines are far more pronounced in the case of Unicaja than for other banks, sending its shares down 5% in early trade. Spain's blue chip index Ibex-35 was up 0.8%.<br><br>Spanish lenders, including Unicaja, are managing to offset a decline in mortgages due to higher returns on existing credits,  [https://xaydungtrangtrinoithat.com/cong-ty-xay-dung-tai-long/ công ty xây dựng kiến tường] carrying floating rates, while maintaining a lid on costs for deposits.<br><br>Yields on Unicaja's loans rose 46 basis points in the [https://www.blogher.com/?s=quarter quarter] to 3.088%, while costs of deposits climbed just 10 basis to 0.474%, widening the customer spread to 261 basis points compared with 226 bps in the previous quarter.<br><br>In this context, Unicaja's net interest income, earnings on loans minus deposit costs, rose 33.9% year-on-year in the quarter to 357 million euros.<br><br>Lending income was higher than the 353 million euros analysts expected and was 11.5% higher than in the previous quarter.<br><br>($1 = 0.9471 euros) (Reporting by Jesús Aguado; Editing by Inti Landauro and Jacqueline Wong)
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	Q3 net profit rises 35% to 137 mln euros, above ~~[https://www.google.co.uk/search?hl=en&gl=us&tbm=nws&q=forecasts&gs_l=news~~ forecasts]<br><br><br><br>Q3 NII up 34% y/y, beating analysts' forecasts<br><br><br><br>New mortgage loans fall 55% y/y in Q3<br><br>*<br><br>Shares fall 5%<br><br>(Adds detail on decline in new mortgage production in paragraphs 3 and 4, shares in 6, customer spread in 8)<br><br>By Jesús Aguado<br><br>MADRID, Oct 30 (Reuters) - Spain's Unicaja said on Monday its net ~~[https://www.gov.uk/search/all?keywords=profit%20rose~~ profit rose] 35% in the third quarter helped by higher lending income though new mortgage loans fell more than 50%.<br><br>Unicaja reported a net profit of 137 million euros ($144.6 million) in the July to September period, more than the 126 million euros forecast by analysts polled by Reuters.<br><br>The lender's total performing loan book shrank 7% year-on-year in the quarter, while new residential mortgages, the bulk of its loan book, ~~[https://xaydungtrangtrinoithat.com/cong-ty-xay-dung-tai-da-nang/ công ty xây nhà trọn gói]~~ fell more than 55% against the same quarter last year and declined 46% compared with the previous quarter.<br><br>A decline in mortgage transactions is affecting the whole sector on lower demand for credit.<br><br>Spanish households are among the most exposed to a rise in interest rates as around 70% of the country's more than 4 million outstanding mortgage loans are tied to variable rates.<br><br>The declines are far more pronounced in the case of Unicaja than for other banks, sending its shares down 5% in early trade. Spain's blue chip index Ibex-35 was up 0.8%.<br><br>Spanish lenders, including Unicaja, are managing to offset a decline in mortgages due to higher returns on existing credits, carrying floating rates, while maintaining a lid on costs for deposits.<br><br>Yields on Unicaja's loans rose 46 basis points in the quarter to 3.088%, while costs of deposits climbed just 10 basis to 0.474%, widening the customer spread to 261 basis points compared with 226 bps in the previous quarter.<br><br>In this context, Unicaja's net interest income, earnings on loans minus deposit costs, rose 33.9% year-on-year in the quarter to 357 million euros.<br><br>Lending income was higher than the 353 million euros analysts expected and was 11.5% higher than in the previous quarter.<br><br>($1 = 0.9471 euros) (Reporting by Jesús Aguado; Editing by Inti Landauro and Jacqueline Wong)		Q3 net profit rises 35% to 137 mln euros, above forecasts<br><br><br><br>Q3 NII up 34% y/y, beating analysts' forecasts<br><br><br><br>New mortgage loans fall 55% y/y in Q3<br><br>*<br><br>Shares fall 5%<br><br>(Adds detail on decline in new mortgage production in paragraphs 3 and 4, shares in 6, customer spread in 8)<br><br>By Jesús Aguado<br><br>MADRID, Oct 30 (Reuters) - Spain's Unicaja said on Monday its net profit rose 35% in the third quarter helped by higher lending income though new mortgage loans fell more than 50%.<br><br>Unicaja reported a net profit of 137 million euros ($144.6 million) in the July to September period, more than the 126 million euros forecast by analysts polled by Reuters.<br><br>The lender's total performing loan book shrank 7% year-on-year in the quarter, while new residential mortgages, the bulk of its loan book, fell more than 55% against the same quarter last year and declined 46% compared with the previous quarter.<br><br>A decline in mortgage transactions is affecting the whole sector on lower demand for credit.<br><br>Spanish households are among the most exposed to a rise in interest rates as around 70% of the country's more than 4 million outstanding mortgage loans are tied to variable rates.<br><br>The declines are far more pronounced in the case of Unicaja than for other banks, sending its shares down 5% in early trade. Spain's blue chip index Ibex-35 was up 0.8%.<br><br>Spanish lenders, including Unicaja, are managing to offset a decline in mortgages due to higher returns on existing credits, [https://xaydungtrangtrinoithat.com/cong-ty-xay-dung-tai-long/ công ty xây dựng kiến tường] carrying floating rates, while maintaining a lid on costs for deposits.<br><br>Yields on Unicaja's loans rose 46 basis points in the [https://www.blogher.com/?s=quarter quarter] to 3.088%, while costs of deposits climbed just 10 basis to 0.474%, widening the customer spread to 261 basis points compared with 226 bps in the previous quarter.<br><br>In this context, Unicaja's net interest income, earnings on loans minus deposit costs, rose 33.9% year-on-year in the quarter to 357 million euros.<br><br>Lending income was higher than the 353 million euros analysts expected and was 11.5% higher than in the previous quarter.<br><br>($1 = 0.9471 euros) (Reporting by Jesús Aguado; Editing by Inti Landauro and Jacqueline Wong)