BBVA 1Q: Mexico and Turkey Perform Better Than Anticipated
BBVA reported net attributable profit of EUR 1.2 billion for the first quarter of 2019, a 10% decrease compared with the first quarter of 2018 and slightly better than consensus expectations of net profit of EUR 1.1 billion. Pre-provision profits increased 3% year on year, a 24% surge in credit losses however eradicated all the gains. Management attributed the sharp increase in credit costs to a macro overlay provision and weakness in the U.S. consumer loan book. We maintain our narrow-moat rati...Banco Bilbao Vizcaya Argentaria is an international financial group, engaged primarily on providing banking services and consumer finance to private individuals and businesses in Spain and Portugal; providing real estate activity in Spain; providing services to international companies and investment banking, capital markets and treasury management services to clients; and providing the banking, insurance and pension businesses in Mexico and the U.S., as well as in South America.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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