April 29, 2019 / 5:28 PM / 7 months ago

BBVA sees net interest income slipping 1-2 percent in 2019

FILE PHOTO: The headquarters of the Spanish bank BBVA are seen in Madrid, Spain, June 12, 2018. REUTERS/Juan Medina

MADRID (Reuters) - Spain’s second-largest bank BBVA expects its net interest income, a measure of earnings on loans minus deposit costs, to slip between one and two percent this year, CEO Onur Genc said on Monday.

In the United States, however, its NII should grow in high single digits this year, he added.

Genc also said the lender expected to maintain its guidance for cost of risk in Turkey at around 300 basis points. BBVA’s first-quarter net profit fell almost 10 percent as a depreciating lira hit earnings at its Turkish unit.

Reporting by Jesús Aguado; Writing and Editing by Andrei Khalip

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