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)
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- Fresh confrontations raise tempers on ground in Crimea |