BBVA is one of the largest Spanish banks and also owns the leading Mexican bank.
BBVA reported a decent second quarter with net profits increasing marginally to EUR 1,097 million from EUR 1,086 on constant exchange rates. We maintain our EUR 7.60/$8.50 fair value estimate and narrow moat rating.On the top line, BBVA fell short of its gross income figure of EUR 6.4 billion last year by just EUR 109 million, as an increase in recurring income was offset by lower net trading income. Net interest income grew EUR 268 million facilitated by good activities in emerging markets, w...
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.
We have operations in 27 countries.
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