April 29, 2019 / 4:00 PM / 3 months ago

BBVA first-quarter net profit falls 9.8 percent hit by Turkey

MADRID, April 29 (Reuters) - Spain’s BBVA on Monday posted a 9.8 percent drop in first-quarter net profit after the depreciation of the lira hit earnings at its Turkish unit in an impact that could not be offset by a strong performance in Mexico, its main market.

The bank said net profit reached 1.16 billion euros ($1.3 billion) in the quarter, above an average forecast of 1.15 billion euros in a Reuters poll of analysts, while net interest income rose just over 3 percent to 4.42 billion euros. ($1 = 0.8956 euros) (Reporting By Jesús Aguado, editing by Andrei Khalip)

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