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BBVA: best adjusted annual profit since 2009

( - The BBVA share is up over 2% in Madrid on Friday morning, after the Spanish bank reported FY 2019 earnings, excluding extraordinary items that is up 2.
7% at 4.83 billion euros, its level the highest since 2009.

Including the impact of goodwill adjustments on its US franchise in the fourth quarter and capital gains made on the sale of BBVA Chile in 2018, attributable earnings, however, fell 35% to 3.51 billion euros.

"The results were driven by an increase in recurring revenue and the containment in operating expenses," the company said, which intends to pay a gross dividend that is unchanged at 0.16 euro per share next April.

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