BBVA Reports Good 1Q, Achieves Capital Ratio Target for 2017
Banco Bilbao Vizcaya Argentaria reported good first-quarter results as it delivered revenue growth paired with cost-cutting initiatives in a move to digital. Net profit increased 79% on constant terms to EUR 1.2 billion compared with the first quarter of 2016, while the cost/income ratio of 49% came in below the 50% threshold we demand of an efficiently run bank. We like the enhancement of the fully loaded common equity Tier 1 ratio to 11%, despite a further ownership increase in Turkish bank Ga...
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