BBVA: posts highest quarterly profit in three years
(CercleFinance.com) - BBVA has reported first-quarter earnings of 1.
34 billion euros, its highest quarterly profit in three years, thanks to strong growth in Spain and Mexico.
BBVA said that net attributable profit of 1.34 billion euros between January and March 2018 was up 11.8% on the same period of 2017 (+22.3% in constant terms).
The Spanish bank said profit grew across all regions year-on-year, with first-quarter earnings in Spain up 54% at 410 million euros, with earnings growth of 12.5% in Mexico.
Net interest income reached 4.3 billion euros, down 0.8% year-on-year.
In a statement, BBVA said controlled operating expenses and a drop in impairment losses on financial assets and provisions also helped over the quarter.
The stock was up 1.8% after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
34 billion euros, its highest quarterly profit in three years, thanks to strong growth in Spain and Mexico.
BBVA said that net attributable profit of 1.34 billion euros between January and March 2018 was up 11.8% on the same period of 2017 (+22.3% in constant terms).
The Spanish bank said profit grew across all regions year-on-year, with first-quarter earnings in Spain up 54% at 410 million euros, with earnings growth of 12.5% in Mexico.
Net interest income reached 4.3 billion euros, down 0.8% year-on-year.
In a statement, BBVA said controlled operating expenses and a drop in impairment losses on financial assets and provisions also helped over the quarter.
The stock was up 1.8% after this report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.