BBVA Q1 profit rises to 2.99 billion euros on Mexico growth
BBVA posted a first quarter net profit of 2.99 billion euros, beating analyst forecasts. Strong growth in Mexico and Spain helped offset higher provisions.
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BANCO BILBAO VIZCAYA-SP ADR reported a 10.8% increase in first-quarter net profit to 2.99 billion euros, beating analyst forecasts of 2.79 billion euros. The result was driven by strong lending income in Mexico and Spain, which offset a 31.4% rise in loan loss provisions. Investors are focused on the bank's 1.46 billion euro share buyback and a return-on-tangible equity ratio that reached 21.7%.
