BBVA H1 Profit Rises

(RTTNews) - BBVA (BBVA) said it earned a net attributable profit of 3.88 billion euros in first half of 2023, up 31 percent from last year, or an increase of 45.2 percent at constant exchange rates. Earnings per share increased 41.1 percent to 0.62 euros per share.

First half net interest income topped 11.41 billion euros in the first half of the year, up 39.2 percent from a year ago, due to improvements in customer spreads and greater activity. Income from net fees and commissions was 2.91 billion euros, up 12.9 percent. Gross income was 14.15 billion euros, 35.2 percent higher than prior year.

Second quarter net attributable profit was 2.03 billion euros, up 30.5 percent, due to the positive performance of core revenues, amid greater activity, BBVA said.

The Group said it maintains a solid capital position, with a fully-loaded CET1 ratio of 12.99 percent, well above the bank's target range of 11.5-12 percent.

BBVA plans to proceed with a new extraordinary share buyback program of 1 billion euros, once the corresponding supervisory authorizations have been received.

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