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Spanish bank BBVA reports 1.536 bln euros of net profit in Q1

Xinhua, April 29, 2015 Adjust font size:

Spanish bank BBVA reported a total of 1.536 billion euros (1.689 billion U.S. dollars) of net attributable profit in the first quarter of the year on Wednesday.

The figure was nearly triple the 624 million euros, or a 146.2 percent growth, from a year earlier. The rise was mainly due to the sale of a stake in China's CITIC bank.

The bank's non-performing loan rate stood at 5.6 percent in March, below the 6.6 percent of a year earlier.

BBVA, which is the second biggest lender by market value in Spain, earned 347 million euros domestically in the first quarter of the year, which was 9.6 percent less than a year earlier, while its non-performing loan rate stood at 5.9 percent.

BBVA's Executive Director Angel Cano said the results confirmed the "positive growth dynamics" that the bank had experienced since the end of the year. Endit