Results season is in full swing, and on July 28, it was Spain's BBVA -- Europe's sixth-largest bank -- to face the gauntlet. Compared to most of its rivals, the numbers weren't half bad. BBVA pocketed €2.8 billion ($4 billion) in net profit over the first half of 2009. That's a 10% drop on a like-for-like basis over the same period last year, but still ahead of most domestic rivals that are struggling from Spain's sluggish economic prospects. BBVA was at pains to stress the positives from the first-half results.
Comment on Spain's BBVA Posts Strong Results, But Pain Could be on the Way
BusinessWeek.com --, Business Week
Tue, 07/28/2009 - 6:49am
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