Spanish Banks Defy Trend as Santander, BBVA Get Boost From Rates
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Spain’s largest banks reported the highest revenue ever as they continue to reap the benefits from high interest rates, defying a trend among some European peers that have seen lending income start to decline.
Banco Santander SA on Tuesday reported a 10% jump in first-quarter revenue, led by higher income from lending. A day earlier, Banco Bilbao Vizcaya Argentaria SA, raised its profit guidance for the year after gross income advanced 18%.