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Monday October 25, 05:14
BBVA of Spain earnings soothe estimate

BBVA of Spain earnings soothe estimate

(by Ginger O'Neil)

The second-largest bank in Spain Banco Bilbao Vizcaya Argentaria SA reported on Monday its nine-month results being in line as earlier estimated.

The bank’s net interest income added 4.7% to 5.26 billion euros, it said. The figure reflects its forecast issued earlier this year.

The company’s net attributable profit lifted to 2.06 billion euros.

BBVA also announced its better activity in the countries of Latin America with the 40% of profits total.

“Results are pretty much in line and I don’t think this will give much fuel to the stock as expectations were high,” said Eva Hernandez, analyst at Fortis Bank in Madrid. “They are slightly better than I expected as regards net interest income in Mexico, and slightly disappointing at the same line in Spain,” she added.

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