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BBVA’s Mexico Resilience Helps Group Beat Profit Estimates

  • Mexico unit thrives despite beginnings of economic slowdown
  • Spanish unit gains, bucking trend among struggling peers
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Banco Bilbao Vizcaya Argentaria SA’s Mexican business shrugged off an economic slowdown in the country, helping the Spanish bank make up for the effect of ultra-low interest rates in Europe.

The Mexico unit posted its highest quarterly profit in at least a decade, helping BBVA report group earnings that beat analyst estimates. That bucks a trend among Spanish banks that have been forced to reduce their forecasts as low interest rates persist.