BBVA CEO Lifts Profit Outlook After Strong First Quarter
- CEO Genc now sees ‘double-digit’ net income growth in 2024
- Spanish bank has been benefitting from higher euro area rates
The Banco Bilbao Vizcaya Argentaria SA (BBVA) headquarters in Madrid.
Photographer: Paul Hanna/BloombergThis article is for subscribers only.
Banco Bilbao Vizcaya Argentaria SA raised its profit guidance for 2024 after beating analysts’ estimates in the first quarter.
The Spanish lender expects profit to show “double-digit growth” this year, Chief Executive Officer Onur Genc said in a statement on Monday. Previously, BBVA had only guided for higher net income, with analysts polled by Bloomberg forecasting an increase of 2.3%.