MADRID, March 14 Spain's will continue
to bet strongly on Turkey and on Garanti Bank, in which it has a
stake, after turmoil in the country in recent months, BBVA Chief
Executive Angel Cano said at the bank's shareholder meeting on
BBVA, which makes most of its profit outside its home
market, has a 25 percent holding in Garanti and an option to
increase it further.
Cano said Garanti had performed well despite recent
uncertainties in the country, which has been hit by political
turmoil and where the currency has been volatile.
He added that turbulence in other emerging markets, where
currencies have also been volatile, would not hurt their
underlying strength. BBVA makes half its profit in South
"They (emerging economies) continue to show resilience and
potential for future growth," Cano said.
(Reporting by Sarah White, Editing by Tracy Rucinski)