Bankia Profit Rises as Higher Revenue Offset Provisions for IPO
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Bankia SA, the nationalized Spanish lender, said fourth-quarter profit jumped as higher revenue offset charges to cover compensation claims for its 2011 initial public offering.
Bankia posted net income of 268 million euros ($300 million), up 79 percent from 150 million euros a year earlier, the lender said in a filing to regulators Saturday. The Valencia-based bank will pay 202 million euros in a cash dividend, it said Friday.