Spain's BBVA to book cash loss of 120 mln euros on CITIC stake sale
MADRID Oct 17 (Reuters) - Spain's second-biggest bank BBVA will book a cash loss of 120 million euros ($162 million) on the sale of a 5.1 percent stake in its Chinese partner CITIC Bank Corp, the lender said in a presentation on Thursday.
BBVA had earlier said the deal would have a 2.3-billion-euro negative impact on its 2013 profit after its remaining 9.9 percent stake in CITIC was marked to market while it would have a 2.4-billion-euro positive impact on the lender's core tier one capital. ($1 = 0.7412 euros) (Reporting by Julien Toyer; Editing by Fiona Ortiz)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote, devolution battle begins |
- Alibaba surges 38 percent on massive demand in market debut |
- Eight bodies found after attack on Guinea Ebola education team
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |