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First half profit at Spain's BBVA jumps 91 pct on asset sales
July 31, 2013 / 5:34 AM / 4 years ago

First half profit at Spain's BBVA jumps 91 pct on asset sales

MADRID, July 31 (Reuters) - Spain’s second-biggest bank BBVA on Wednesday posted a 91 percent leap in first half net profit to 2.9 billion euros ($3.84 billion), slightly above analysts’ forecasts.

A series of disposals in Latin America were widely expected to help bump up profits, as provisions against losses on loans and other assets also fell sharply from the first six months of 2012.

BBVA’s net interest income, a measure of earnings on loans, fell by 0.5 percent to 7.3 billion euros compared to the same period a year ago, but also beat expectations in a Reuters poll. ($1 = 0.7547 euros) (Reporting by Sarah White; Editing by Julien Toyer)

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