October 31, 2019 / 6:34 AM / 21 days ago

BBVA Q3 net profit down 31% but beats forecasts

MADRID, Oct 31 (Reuters) - Spain’s BBVA said on Thursday its third quarter net profit fell 31% due to an unfavourable comparison with the same quarter last year when it booked net capital gains of over 600 million euros.

Net profit for the quarter came in at 1.23 billion euros ($1.37 billion) above an average of analysts’ forecasts in a Reuters poll of 1.14 billion euros.

Net interest income (NII), a measure of earnings on loans minus deposit costs, rose 4.1% to 4.49 billion euros but was down 1.7% against the previous quarter. Analysts polled by Reuters had forecast NII of 4.48 billion euros. ($1 = 0.8962 euros) (Reporting By Jesús Aguado; editing by Andrés González)

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