BBVA May Report Profit Slump on Spanish Property Cleanup Costs
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Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest bank, may say third-quarter profit slumped on the cost of cleaning up its real estate holdings.
BBVA may say net income dropped to 331.8 million euros ($430 million) from 804 million euros a year earlier, according to the average estimate in a Bloomberg survey of eight analysts. The Bilbao, Spain-based lender is due to report earnings tomorrow before the market opens in Madrid.