BBVA: private banking margins steady
Oct. 14 - Spain's second largest bank BBVA sees margins at its private banking business stabilising after a 10 percent drop through the middle of 2008.
Enrique Marazuela, BBVA's chief investment officer, said revenues from assets under management could continue to fall into 2009.
Speaking at the 2008 Reuters Global Wealth Management Summit in Geneva, Marazuela expressed happiness with BBVA's presence in private banking in Latin America and said they are open to buying rivals in retail banking although nothing is planned.
Speaker: Enrique Marazuela, Chief Investment Officer, BBVA
Presenter: Judy MacInnes, Geneva
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