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MADRID: Spanish bank Banesto reported a net profit of 20.2 billion euros in the first quarter of the year on Thursday after making a 475-million-euro provision to cover potential losses on real estate assets.
Banesto, majority-owned by the euro zone's biggest bank Santander, said it now had a core capital level of 9.2 percent, complying ahead of time with new requirements set by the Spanish government under a banking reform.