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BBVA posts 58 percent rise in Q2 profit, beats forecast
July 29, 2016 / 5:41 AM / a year ago

BBVA posts 58 percent rise in Q2 profit, beats forecast

MADRID, July 29 (Reuters) - BBVA, Spain’s second-biggest bank, posted on Friday a 58 percent rise in second-quarter net profit from the previous three months, beating analysts’ forecast, thanks to a series of one-offs and lower provisions against bad loans.

BBVA, which has over 40 percent of its business in Mexico, reported net profit for the April to June period of 1.12 billion euros ($1.24 billion), above analysts’ forecasts in a Reuters poll of 936 million euros.

Net interest income, a measure of earnings on loans minus deposit costs, was 4.21 billion euros for the quarter, up 1.5 percent from the January-March period and just above analysts’ forecasts. ($1 = 0.9026 euros) (Reporting by Angus Berwick and Jesus Aguado; Editing by Julien Toyer)

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