February 1, 2019 / 6:24 AM / 6 months ago

BBVA 2018 net profit up 51 pct, gains on Chile sale

MADRID, Feb 1 (Reuters) - Spain’s BBVA reported Friday a 51.3 percent rise in 2018 net profit, boosted by cost cutting and the sale of its unit in Chile.

BBVA, Spain’s second largest bank, said net profit reached 5.32 billion euros ($6.08 billion) in 2018. Net interest income, a measure of earnings on loans minus deposit costs, slipped 1 percent to 17.59 billion euros. ($1 = 0.8744 euros) (Reporting By Axel Bugge; Editing by Paul Day)

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