Banco Bilbao Vizcaya Argentaria SA or BBVA Group (BBVA), a Spanish financial services provider, on Thursday reported a rise in earnings for the third-quarter, helped by the growth of fees and commissions in practically all business areas and a lower negative impact of hyperinflation.
For the three-month period to September 30, the company posted a net income of 2.627 billion euros or 0.44 euro per share, higher than 2.083 billion euros or 0.33 euro per share, registered for the same period last year.
Excluding items, earnings stood at 0.44 euro per share as against prior year's 0.34 per share.
Profit before tax was 3.867 billion euros, compared with 3.365 billion euros in 2023.
Operating income increased to 5.386 billion euros from 4.654 billion euros a year ago.
Net fees and commissions climbed to 1.912 billion euros from previous year's 1.685 billion euros.
Net trading income was 1.044 billion euros, up from 658 million euros last year.
Net interest income, however, slipped to 5.868 billion euros from 6.434 billion euros in 2023.
As of September 30, gross loans and advances to customers were 397.891 billion euros, higher than 387.565 billion euros, recorded on September 30, 2023.
Deposits from customers stood at 437.834 billion euros as of September 30, compared with 403.861 billion euros, recorded on September 30, 2023.
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