BBVA 3Q Profit Beat Expectations
October 30 2020 - 2:37AM
Dow Jones News
By Pietro Lombardi
Banco Bilbao Vizcaya Argentaria SA's third-quarter net profit
fell much less than analysts had expected.
Net profit for the period declined 6.8% to 1.14 billion euros
($1.33 billion), the Spanish bank said Friday.
Gross income, the bank's top line, dropped 7.5% to EUR5.66
billion, with net interest income and fees declining 8.1% and 10%,
respectively.
Analysts had expected a net profit of EUR773 million on revenue
of EUR5.55 billion, according to a consensus forecast provided by
the bank.
BBVA's core tier 1 ratio, a key measure of capital strength, was
11.52% at the end of September compared with 11.22% in June.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com;
@pietrolombard10
(END) Dow Jones Newswires
October 30, 2020 02:22 ET (06:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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