Spain’s Liberbank reports big profit rise in first half of 2014

Spain’s Liberbank reported 104 million euros (139 million U.S. dollars) of net profits in the first six months of the year, the Spanish Securities and Exchange Commission reported on Tuesday.
The figure was a 98 percent rise compared with the same period in 2013, boosted by a restructuring process valued at 228 million euros.
Liberbank, which is made up of Cajastur-CCM, Caja Cantabria and Caja Extremadura, has a non-performing loan rate (the bank's bad debts as a percentage of total credit) of 10.58 percent. This figure fell by 0.16 percent in the second quarter of the year.
Liberbank received financial aid from the EU after the Spanish government asked for a bailout in order to recapitalize its banking system.
The bank was part of the EU’s so-called second group along with Caja3, BMN and CEISS that received 1.86 billion euros from the EU. (1 euro = 1.33 U.S. dollars)