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.

In a statement, the banking institution said its second quarter revenue figure marked a 3.8 percent growth in the first three months of this year.

It assigned this in part to a recovery in business activity in country’s uneasy economy, with lending up to 4 per cent.

In the meantime, the profits for the period of January to June of the present year remained down 9.7 percent to euro 2.5 billion.

The statement was made by Spain-based BBVA.

The shares of bank slipped by 0.24 percent at euro 10.55 in early trading in Madrid.