Categories: Economy

BBVA earns 1,846 million euros up to March, 39.4% more than last year

In the Spanish State, the entity has obtained a net profit of 541 million euros, 9.5% less than a year earlier, after paying 225 million in the extraordinary tax to the bank.

BBVA has obtained an attributable net profit of 1,846 million euros between January and March 2023, 39.4% more than in the same period of the previous year, thanks to the increase in income and despite the 225 million that it allocated to pay the Extraordinary tax on banks in the Spanish State.

In Spain, the entity earned 541 million euros, 9.5% less than a year earlier, due to the impact of the aforementioned extraordinary tax, with a credit portfolio that fell by 1.2% to 169,215 million and deposits that fell by 3.1%, to 213,311 million.

Mexico was, for another quarter, the subsidiary that contributed the most profits to the Group, more than double that of Spain, specifically 1,285 million euros, mainly due to the higher income it obtained thanks to the increase of more than 13% registered by credits.

Source: Eitb

Tifany

I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.