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Stock impact report

UPDATE 2-Spanish banks beat forecasts despite lending challenges [Reuters]

Banco Bilbao Vizcaya Argentaria S.A. (BBVA) 
US:NYSE Investor Relations: shareholdersandinvestors.bbva.com
Company Research Source: Reuters
UPDATE 2-Spanish banks beat forecasts despite lending challenges | Reuters Reuters Staff 3 Min Read * BBVA Q1 net profit 1.34 bln vs 1.19 bln forecast * Caixabank 704 mln vs 560 mln forecast * Bankia 229 mln vs 223 mln forecast * Lending under pressure but bad loans improve (Adds detail, shares) By Jesús Aguado MADRID, April 27 (Reuters) - Spanish banks BBVA, Caixabank beat first-quarter net profit forecasts helped by overseas markets which offset a squeeze on lending income at home. BBVA reported a 12 percent rise in net profit to 1.34 billion euros ($1.62 billion) thanks to Mexico, its main market, where it makes 35 percent of its profits, and a solid performance in the United States. That topped the 1.19 billion euros expected by analysts. Caixabank, which bought Portugal’s second-biggest lender BPI in February 2017, posted a net profit of 704 million euros, exceeding the 560 million expected by analysts. BBVA shares rose 1.8 percent and Caixabank slipped 0.4 percent while the Euro Show less Read more
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