January 9, 2018 / 10:55 PM / 7 months ago

Spain's BBVA says will take a 1.1 bln euros hit due to Telefonica stake writedown

MADRID, Jan 9 (Reuters) - Spain’s second-biggest bank BBVA on Tuesday night said it would take a hit of 1.123 billion euros ($1.34 billion) on its 2017 results due to the decline in share price of its 5 percent stake in Telefonica SA .

The Spanish lender said the writedown on its Telefonica stake would not have an impact on its total CET-1 core capital ratio. It also said it would not generate any cash outflow nor have an impact on dividends.

$1 = 0.8377 euros Reporting by Jesús Aguado; Editing by Lisa Shumaker

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below