BBVA : COVID-19 crisis could exacerbate the group’s weaknesses
>Q1 2020 characterised by substantial one-offs - The group's Q1 2020 results were again marked by hefty negative one-offs (goodwill impairment for BBVA US to the tune of € 2.1bn, additional provisions related to COVID-19 for around € 1.4bn), with a net loss of € 1.7bn (net profit adjusted for the goodwill impairment was € 292m, here again well short of expectations and consensus of € 939m). The underlying operating performance looks respectable albeit somewhat d...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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