Of Special Interest
3rd August 2012
BBVA down 35% on impairments - international does well
BBVA reported half year net attributable of €1,510m (£1,184m $1,855m ¥145.0bn Y11,800m) DOWN 35% on the year ago period. The property and development writedowns within Spain are the main reason for the fall. Operating Income was up 10% for the period.
The bank reports NPA at 4% and coverage at 66%. Spanish NPA is 5.1% and coverage 50%, with the domestic NPA well below the sector average. All BBVA's international operations showed good improvement in profit.