BBVA BBVA Bilbao Vizcaya Argentaria SA

   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)

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