Business News
Spain's BBVA bank earnings dropped 35 per cent in 2011
Feb 2, 2012, 10:13 GMT
Madrid - Banco Bilbao Vizcaya Argentaria (BBVA), Spain's second-biggest bank, saw its net profit drop by 34.8 per cent to 3 billion euros (4 billion dollars) in 2011, the bank said Thursday.
BBVA attributed the fall mainly to a 1-billion-euro charge on its US operations.
Spain's biggest bank, Santander, this week said its profit dropped 35 per cent to 5.35 billion euros, largely due to provisions taken against possible losses in the real estate sector.
