The profit of the Spanish bank BBVA resumes in the 2nd quarter for a solid performance in Mexico

By Jesús Aguado

MADRID (Reuters) – The Spanish bank BBVA has reported on Friday, its net profit rose 18.3 percent in the second quarter compared to the same period last year, due to the performance of its main market, Mexico, offsetting a depreciation of the currency in Turkey.

BBVA, Spain's second largest bank, posted net profit of 1,310 million euros ($ 1,530 million) over the period from April to June, higher than the average forecast 1,180 million euros from a Reuters survey. 19659007] The bank's risk management and a portfolio mix with a high proportion of inflation-indexed bonds have limited the impact of the depreciation of the Turkish lira on its debt-to-value ratio. negative 1.9 percentage point capital during the quarterly period. Thirteen, the company explained.

In its main market in Mexico, the company's net profit rose 15.4% to 637 million euros, supported by strong operational trends despite the uncertainty surrounding the negotiations of the North American Free Trade Agreement (NAFTA).

(1 dollar = 0.8584 euros)

(Report by Jesús Aguado, published in Spanish by Carlos Aliaga)