BBVA: optimistic about 2018 after a 'good' 2017
(CercleFinance.com) - Spanish bank BBVA on Thursday posted a 20% rise in net profit for 2017, promising that 2018 would be "an even better" year.
Excluding the impairment losses related to its investment in Telefonica, the group generated net profit of 4.6 billion euros, it said.
When taking into account losses from Telefonica, net attributable profit inched up just 1% to 3.5 billion euros.
The lender said recurring revenue grew 4.1% to reach a record level, while expenses dropped 2.3%.
Separately, BBVA's fully-loaded tier 1 capital ratio rose to 11.1%, above the group's target.
The shares were up 0.4% at 7.6 euros in Madrid after these results.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Excluding the impairment losses related to its investment in Telefonica, the group generated net profit of 4.6 billion euros, it said.
When taking into account losses from Telefonica, net attributable profit inched up just 1% to 3.5 billion euros.
The lender said recurring revenue grew 4.1% to reach a record level, while expenses dropped 2.3%.
Separately, BBVA's fully-loaded tier 1 capital ratio rose to 11.1%, above the group's target.
The shares were up 0.4% at 7.6 euros in Madrid after these results.
Copyright (c) 2018 CercleFinance.com. All rights reserved.