BBVA Beats Estimates as Lending Revenue Offsets Charges

BBVA SA posted first-quarter profit that beat analysts’ estimates as higher lending revenue and fees offset increasing provisions.

Spain’s second-biggest lender reported a 11% increase in net income to €3 billion ($3.5 billion) from a year earlier, it said in a statement Thursday. That compares with a Bloomberg-compiled estimate of €2.8 billion. Net interest income rose 18%.