Banco Bilbao Vizcaya Argentaria SA reported full-year 2016 profit of €3.48 billion, up by 31.5% from the previous year and its highest figure since 2010.
The result included an after-tax negative impact of €404 million related to a gross provision of €577 million, booked in the fourth quarter, to cover possible future claims relating to interest rate floors on previously sold mortgage contracts.
The bank's fourth-quarter 2016 net income reached €678 million, down on a yearly basis from €940 million.