Santander Beats Estimates as New Customers Lift Lending Income [BNN Bloomberg (Canada)]
Banco Bilbao Vizcaya Argentaria S.A. (BBVA)
US:NYSE Investor Relations:
shareholdersandinvestors.bbva.com
Company Research
Source: BNN Bloomberg
The Madrid-based lender posted net income of €2.93 billion ($3.17 billion) in the fourth quarter, according to a regulatory filing Wednesday. That compares with €2.56 billion forecast by analysts in a Bloomberg poll. Spain's largest bank benefited from 5 million new customers added last year, which helped lift net interest income by about 5%. Santander and its Spanish rivals, who are all highly reliant on retail clients, were among the largest beneficiaries of the European Central Bank's record rate hiking cycle last year. As the ECB hits the brakes, these same lenders are starting to feel the slowdown in interest income. On Tuesday, Santander's largest Spanish peer, Banco Bilbao Vizcaya Argentaria SA, reported net interest income well below expectations, as did Bankinter SA earlier this month. Better than expected fees and commissions helped BBVA offset that decline. Falling interest rates reduce what banks can charge for loans, while funding costs such as interest paid on dep
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News
- Spain to Name Escriva New Central Bank Governor, Expansion Says [BNN Bloomberg (Canada)]BNN Bloomberg
- Spain to Announce New Central Bank Governor on Sept. 4 [BNN Bloomberg (Canada)]BNN Bloomberg
- Emerging-Market Currencies Slip After US Retail Sales Beat [BNN Bloomberg (Canada)]BNN Bloomberg
- Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA) was upgraded by analysts at Citigroup Inc. to a "strong-buy" rating.MarketBeat
- BBVA Says Sabadell Savings Target at Risk If No Merger [Yahoo! Finance Canada]Yahoo! Finance Canada
BBVA
Earnings
- 4/29/24 - Beat
BBVA
Sec Filings
- 9/20/24 - Form F-4/A
- 9/20/24 - Form 425
- 9/20/24 - Form 425
- BBVA's page on the SEC website