Unicaja Q3 Net Profit Rises 10 Percent

Spanish lender Unicaja posted a ten percent rise in third-quarter net profit to one hundred eighty-two million euros, beating forecasts. Higher loan incomes offset rising deposit costs.

Insights:
The new logo of Unicaja is seen on the facade of a Unicaja bank branch office, in Malaga, Spain, April 24, 2024. REUTERS/Jon Nazca

Unicaja posted a net profit of €182 million ($203 million) in the third quarter, beating analyst forecasts on higher loans. The result highlights steady economic momentum across Spain. Strong lending margins continue to drive regional banking performance despite rising deposit costs.