Spanish Bank BBVA Posts 44.2% Drop in Net Profit
Spanish bank BBVA said on Friday that its 2012 net profit had plunged by 44.2 percent to 1.676 billion euros ($2.283 billion) owing to provisions taken against potential losses on real-estate loans.
BBVA, the third-biggest Spanish bank by assets under management, emphasized however that its net banking income had increased by 15 percent to 15.122 billion euros.
Source: Agence France Presse
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