by Amruth Sundarkumar | Jun 29, 2022 | Banks
BBVA said that it saw €324mn ($341mn) of its Q1 2022 net attributable profit wiped out due to hyperinflation accounting in its Turkish unit Garanti BBVA. BBVA’s restated profit has been reduced to €1.33bn ($1.4bn). The profit decline is augmented by BBVA’s...
by Amruth Sundarkumar | Feb 4, 2022 | Banks
BBVA’s Q4 2021 net attributable profits were reported at €1.34bn ($1.5bn), up by a marginal 1.6% YoY, higher than forecasts of €1.02bn ($1.2bn) thanks to its Mexican unit’s performance which is its largest market accounting for over 50% of its profits. For...
by Amruth Sundarkumar | Nov 1, 2021 | Banks
French banking major BNP Paribas reported a 32% YoY jump in net income to €2.5bn ($2.9bn). Profits were helped by a release in provisions for pandemic-related loan losses seen by its cost of risk falling 43% to €706mn ($823). Revenues came at €11.4bn ($13.3bn), up...
by Amruth Sundarkumar | Aug 2, 2021 | Banks
European banks BNP Paribas, BBVA and UniCredit Reported upbeat earnings results: French banking major BNP Paribas reported net income of €2.9bn ($3.4bn) in Q2, a 27% YoY jump. Its domestic markets division saw revenues rise ~10% while investment banking (IB) reported...
by Amruth Sundarkumar | Jun 9, 2021 | Banks
Spanish lender BBVA announced plans to lay off about 3,000 employees, ~13% of its workforce in Spain, and close 480 branches “to ensure the competitiveness and sustainability of future employment in the entity given the current context of profound transformation...
