Caixabank Posts Higher Q1 Profit

Spain's Caixabank CAIXY reported a strong rise in its profit for the first quarter. Caixabank's quarterly net profit jumped 99 percent year-over-year to EUR375 million ($402.7 million). Its net interest income rose 14.6 percent to EUR1.14 billion. At the end of March, return on equity ratio came in at 3.4 percent. Caixabank shares fell 0.66 percent to close at $1.50 yesterday.