Banco Bilbao Vizcaya Argentaria, S.A. or BBVA Group (BBVA), a Spanish financial services company, on Monday reported a rise in net profit for the first-quarter particularly on higher interest income.
Net interest income for the period grew 15.4 percent year-on-year, and net fees and commissions increased by 31.1 percent.
For the three-month period, the lender posted a net income of 2.200 billion euros or 0.36 euro per share, higher than 1.846 billion euros or 0.29 euro per share, recorded for the same period last year.
Excluding items, income per share was at 0.37 euro per share versus previous year's 0.30 euro per share.
Per-tax income stood at 3.458 billion euros, compared with 2.944 billion euros in 2023.
Operating income increased to 4.835 billion euros from 3.942 billion euros last year.
Net interest income was 6.512 billion euros, up from last year's 5.642 billion euros.
Net fees and commissions were at 1.887 billion euros, compared with 1.439 billion a year ago.
Gross loans and advances to customers improved to 400.457 billion euros from last year's 373.481 billion euros.
Deposits from customers were 436.763 billion euros, higher than 395.880 billion euros in 2023.
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