Plus   Neg

BBVA USA Bancshares Turns To Profit In Q1

BBVA USA Bancshares Inc. reported net income of $385 million for the first quarter of 2021 compared to a net loss of $2.2 billion in the first quarter of 2020.

Operating income in the quarter was $349 million, up 16 percent from the first quarter 2020.

Total revenue for the first quarter was $968 million, up 7 percent from first quarter 2020 levels.

Net interest income in the quarter totaled $664 million compared to $589 million in the first quarter of 2020.

Non-interest income, excluding securities gains, for the quarter was $304 million compared to $315 million for the first quarter of 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Fast-food giant McDonald's said it will be raising hourly wages for more than 36,500 hardworking employees at McDonald's-owned restaurants by an average of 10 percent to make it among the industry-leading pay and benefits package. These increases, which have already begun, will be rolled out over the next several months. Biogen Inc. (BIIB) Friday said its XIRIUS study of cotoretigene toliparvovec failed to meet its primary endpoint in Phase 2/3 in patients with X-linked retinitis pigmentosa or XLRP. The company further noted that the study obtained positive trends in other pre-specified clinically relevant endpoints,... General Mills Inc. (GIS) agreed to buy Tyson Foods' (TSN) pet treats business for $1.2 billion in cash, the companies said in a statement on Friday. The transaction includes the Nudges, Top Chews and True Chews brands. General Mills will also acquire a manufacturing facility in Independence, Iowa.
Follow RTT