BBVA 3Q 2018: Full Turkish Impact Not Yet Felt in a Very Messy Quarter
BBVA reported net attributable profit of EUR 1 billion for the third quarter of 2018, excluding a one-off capital gain on the disposal of BBVA's Chilean business of EUR 600 million. This represents a 9% decline compared with the third quarter of 2017. We maintain our EUR 6.30 fair value estimate and narrow-moat rating.As always currency movements complicates an analysis of BBVA's results, even more so in this quarter--with the Turkish lira declining in value by 40% and the value of the Argentin...
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.
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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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