BBVA Banco Frances SA (BFR) on Thursday reported a higher first-quarter profit, mainly driven by growth in net interest income.
Profit before tax rose to €4.722 billion from €4.348 billion a year earlier.
Operating income increased to €6.604 billion from €5.762 billion last year.
Net attributable profit came in at €2.989 billion, up from €2.698 billion a year earlier. Earnings per share increased to €0.51, compared with €0.45.
Net interest income increased to €7.537 billion from €6.398 billion last year.
Net fees and commissions rose to €2.256 billion from €2.060 billion, while net trading income declined slightly to €915 million from €948 million.
Additionally, the company said that early next week it will begin the final tranche of its extraordinary share buyback program, with a maximum amount of €1.46 billion.
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