BBVA
BBVA’s Net Profit Declines
Submitted by Antonio Carretero on Thu, 07/28/2011 - 05:10
On Thursday, the Banco Bilbao Vizcaya Argentaria SA revealed that the net profit of the bank fell 7.6% in the second quarter. The main reason behind the decline was that the income of the bank was hit by economic weakness in the Spanish bank's home market, whereas cost climbed due to expansion abroad.
Net profit fell of the Spanish Bank fell to 2.34 billion Euros from 2.53 billion Euros a year ago, but exceeded 2.226 billion Euros from the forecast.
BBVA’s Q2 revenue slips 18%
Submitted by Antonio Carretero on Tue, 08/03/2010 - 09:16
Spanish bank BBVA has recently announced that its second-quarter total revenue has slipped 18 percent to euro 1.29 billion ($1.68 billion) as compared to the same period of the last year, as it set aside euro 250 million in provisions for insolvencies.
BBVA is the country’s second biggest lender after Banco Santander.
BBVA said in a note that its gross income during the period of April-June climbed by 2 percent to touch the mark of euro 5.58 billion.
Spain’s BBVA increases stake in China Citic to 15%
Submitted by Antonio Carretero on Sat, 12/05/2009 - 03:58
BBVA, the second-largest bank in Spain, has announced that it would increase its holding stake in China Citic Bank (CNCB) from 10% to 15% for about 1 billion euros (1.58 billion dollars).
According to the statement issued by the Spanish stock exchange officials, BBVA will buy additional 4.93% of Citic for about HK$6.45 per share.
The bank said in a statement that the purchase would take BBVA’s interest to 15%, at the cost of around 1 billion euros.
BBVA aims to raise stake in China CITIC Bank to 15%
Submitted by Antonio Carretero on Mon, 11/23/2009 - 12:34
Banco Bilbao Vizcaya Argentaria (BBVA) SA, the second-largest bank in Spain, aims to increase its stake in China CITIC Bank Corp to 15%.
Earlier, it hold 10% equity stake in the stake in China CITIC Bank, which is the listed banking unit of the China’s largest investment conglomerate.
According to the sources, the Spanish lender expects to allocate EUR 1.1 billion to buy a 5% stake in China CITIC Bank at HK$6.45 per share.
The move is in proportion to BBVA’s strategy to merge its position as a leading foreign investor in China’s banking industry.
BBVA reports Flat Net Profit
Submitted by Antonio Carretero on Wed, 10/28/2009 - 06:44
BBVA reports a 3.3 per cent down in net profit
Spain's second-largest bank BBVA, Banco Bilbao Vizcaya Argentaria, has reported a 3.3 per cent decline in its net profit for the nine-months.
The net revenue has slipped 3.3 per cent to 4.179 billion euros, which is almost equal to the analyst’s predicted value of 4.106 billion.
However, the capital ratio of the bank witnessed an increase and it has reached 8 per cent from 7.1 per cent three months ago.
