By Pietro Lombardi
Banco Bilbao Vizcaya Argentaria SA’s third-quarter net profit fell from a year earlier, when results included a capital gain on a stake sale, while revenue rose.
Net profit for the period was 1.23 billion euros ($1.37 billion) compared with EUR1.79 billion a year earlier, when the results where boosted by the sale of its Chilean franchise, the Spanish bank /zigman2/quotes/204078760/lastsale BBVA -7.46% /zigman2/quotes/209653399/delayed ES:BBVA -5.34% said Thursday.
Excluding capital gains, net profit rose 6.1%, it said.
Gross income, the bank’s top line, rose to EUR6.14 billion from EUR5.73 billion.
The results compare with analysts’ expectations of a profit of EUR1.15 billion on gross income of EUR5.99 billion, according to a consensus forecast provided by the bank.
BBVA’s core Tier 1 ratio, a key measure of capital strength, was 11.6% in September from 11.5% it reported in June.