News Focus
News Focus
icon url

dav1234

07/31/13 8:02 AM

#604970 RE: dav1234 #604969

BBVA Q2 net profit more than doubles
Banco Bilbao Vizcaya Argentaria (BBVA): Q2 net profit €1.15B vs €505M a year earlier and vs consensus of €1.08B.Overall net interest income drops to €3.68B from €3.74B but is slightly above forecasts.Fee income +6% to €1.13B.Results strengthened by a gain of almost €471M on the sale of pension assets in Colombia and Peru, as well as growing lending in Latin America.Lower loan-loss provisions in Spain, although business in the country remained weak; it was also hurt by costs associated with the scrapping of interest-rate floors on mortgages